Medical Practices + Bankruptcy Filing: The Challenge
As medical practice owner, preparing bank statements for bankruptcy filing is a common but time-consuming task. Bankruptcy attorneys and filers need 6+ months of bank statements for means testing, Schedule I/J preparation, and trustee review in Chapter 7 and Chapter 13 cases.
How BankScan AI Helps Medical Practices with Bankruptcy Filing
Convert practice bank statements to Excel to reconcile insurance reimbursements, patient payments, and vendor costs for accurate practice financial management. For bankruptcy filing specifically, BankScan AI extracts Current Monthly Income (CMI) for means test, payments to creditors in the 90 day automatically.
How Medical Practices Handle Bankruptcy Filing
When preparing bank statements for bankruptcy filing, medical practices need to Medical practice administrators reconcile ERA (Electronic Remittance Advice) payments from insurance companies against claims submitted, verify patien. BankScan AI automates the data extraction step.
Key terms you'll encounter: ERA payment, EOB, claim denial, CPT code.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 6 months of statements for means test (CMI calculation); trustees may request up to 2 years to identify preferential or fraudulent transfers of statements for bankruptcy filing.
AI extracts what you need
Our AI extracts Current Monthly Income (CMI) for means test, payments to cre — formatted for medical practices workflows.
Complete your bankruptcy filing work
Download Excel files ready for bankruptcy filing. Income averaged over 6-month look-back period per means test form (B122A/B122C); expenses categorized per Schedule J; transfers over $600 in prior 2 years identified for SOFA
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Medical Practices — Bankruptcy Filing
- Built for Medical Practices — Saves 4-6 hours per week on insurance payment reconciliation and patient payment posting for a practice with 5+ providers
- Software compatible — Output works directly with QuickBooks, Kareo, athenahealth
- Built for Bankruptcy Filing — Convert bank statements to Excel for quick means test analysis, income/expense categorization, and complete financial disclosure required by bankruptcy courts.
- Key data extracted — Current Monthly Income (CMI) for means test, payments to creditors in the 90 days pre-filing (preferential transfers), insider payments in prior year, cash on hand at filing date
Compliance: Medical Practices + Bankruptcy Filing
When medical practices prepare bank statements for bankruptcy filing, specific compliance requirements apply.
- Medical practices must comply with HIPAA for financial record security, Medicare and Medicaid billing regulations, and Stark Law and Anti-Kickback Statute requirements. State medical board requirements affect licensing costs. IRS 1099 reporting is required for independent contractor physicians. Malpractice insurance costs must be tracked accurately.
- Legal basis: 11 USC section 707(b) (means test for Chapter 7); 11 USC section 521 (debtor duties including document production); Bankruptcy Rules 1007 and 4002
Bankruptcy Filing — Built for Medical Practices
Bankruptcy petition triggers automatic stay immediately; however, required documents (including bank statements) must be filed within 45 days or the case may be dismissed
Try Free — Medical Practices + Bankruptcy Filing