By Brandon Seigel, Chief Problem Solver · August 7, 2026 · 5 min read
Separate accounts by revenue stream
I run one account for government and insurance collections — ERAs, Medicaid, copays and coinsurance — and a separate account for private-pay and non-regulated revenue. It makes cost analysis cleaner and audits simpler.
Consistent categories, every month
Expenses tracked the same way every month let you compare periods and spot creep. Waiting until tax season means guessing.
Reconcile deposits to posted payments
Every insurance deposit should tie to a posted payment in your EMR. When it doesn't, money is either missing or misapplied. Daily payment posting makes this reconciliation possible.
Quick answers
Should my practice have separate bank accounts?
Brandon Seigel recommends separating insurance and government-payer collections from private-pay revenue to simplify analysis and audits. Confirm your setup with your CPA.
Sources and further reading
See exactly what's included in our medical billing services for therapy practices, how our percentage-of-collections pricing works, or browse common questions from practice owners.
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