Resident Trust Fund Management & Advisory Services

Increase Resident Satisfaction with a Compliant Program Your Community Can Trust

Residents who take advantage of your trust fund services need reassurance that their savings – and their livelihood – will be carefully guarded.

Failure to establish proper safeguards to protect these funds can leave your facility subject to theft, fraud and financial abuse. Not only are these citations costly mistakes to your bottom line, but your brand may never recover from its tarnished image.

When you enlist the help of Richter to help manage your trust fund accounts, not only will you enjoy the convenience of outsourcing tedious financial paperwork—you will significantly reduce the risk of mismanaged funds.

Trust Fund Management Challenges We Solve

• Ineffective program oversight
• Poor checks and balances/segregation of duties
• Inadequate records of your resident’s financial transactions
• Untimely distribution of required financial statements
• Unfavorable Medicaid and Medicare survey results
• Lack of employee training and awareness

How We Do It

With tight governmental controls on how trust fund accounts are held, monitored and distributed, you need a knowledgeable resource you can count on. The experienced staff at Richter keeps apprised of the continually changing legal landscape to keep you in compliance with all federal and state guidelines. Whether your facility needs interim support to get you back on track or all-inclusive ongoing program management, our goal will always be to protect you—and your residents.

Resident Trust Fund Management Services for Skilled Nursing and Assisted Living Facilities

• Clean-up to get accounts back into good standing
• Monthly bank reconciliation & transaction entry
• Process reviews & compliance audits
• Policy development
• Software implementation & conversion
• Comprehensive employee training
• Consulting

Enhance Resident Trust with Richter

To learn more about how Richter can help your facility achieve and maintain a compliant resident trust fund program, please fill out the form below to request more information or contact us here.