Client's business lost $20k due to undetected bank account fraud in their EMR system because there was no real-time reconciliation alert between the EMR deposits and accounting software.
Existing EMR systems prioritize data security but lack real-time deposit verification and automated reconciliation with accounting software, so fraudulent changes to bank accounts go unnoticed until reconciliation period.
Workarounds Described
- Bookkeeper manually noticed stopped deposits in QBO and raised concern
- Client checked bank statement feed instead of QBO
Implied Software Gaps
- Automated daily reconciliation of EMR deposits with accounting software
- Real-time fraud detection for changes to payment account information
ReconGuard Fraud Alert
ReconGuard is a fraud detection add-on that sits between EMR systems and accounting software, monitoring daily deposits for anomalies. It instantly flags when deposit amounts or bank account information changes, preventing theft before funds are lost. Unlike manual reconciliation, it provides real-time alerts and integrates with major EMRs.
- Real-time deposit verification against expected schedules
- Automated alert when bank account info changes in EMR
- Integration with QuickBooks and other accounting software
- Audit log of all EMR payment configuration changes
Existing Solutions Mentioned
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