Payment Plans

Medical bills can seem overwhelming to many patients. Balances often exceed the amounts that patients can pay at one time. For this reason, doctors assign patients to payment plans. A payment plan specifies a certain amount that must be paid each month (or other specified time period) until the balance is paid off. Medisoft can track which payment plan is assigned to each patient. Additionally, it can flag patient accounts if payments are missed.

Creating Payment Plans

To create a payment plan, take the following steps:

  1. Click the Lists menu and Patient Payment Plans.
  2. Click the New button.


  3. You are going to see the following screen. Here you can give the plan a description, as well as specify the day the first payment will be due, how often payment will be due, and the amount of payment that will be due each period. Make your selections and click Save.


Assigning Payment Plans to Patients

After creating a plan, you need to specify which patients will be on that plan. To assign a plan to a patient, take the following steps:

  1. Open the Patients/Guarantors and Cases screen by clicking the Lists menu and Patients/Guarantors and Cases.
  2. Find the patient you wish to assign the payment plan to and double-click on that patient. This will open that patient’s record.
  3. Click the Payment Plan tab. Here you will be able to select the appropriate payment plan for this patient. After making your selection, click Save.


The program will now track the scheduled date for the next payment and the amount to be applied.  If the patient follows the payment plan (e.g., the patient pays the required amount by the required date), the account is excluded from any collection letters that might be prepared.  If the patient does not follow the plan, the account will be included in any collection letters that might be prepared.

 

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A facebook fan asked how she could add a modifier to her procedure code, and I asked if she had a modifier column in Medisoft Transaction Entry and she said “No” , so I started this video training with only that narrow focus.  But when I got into it, I realized how much more useful your Transaction Entry Screen; Statement Management Screen; Claims Management Screens can be if you added a few customizing “Tricks”, so I created a really neat “customizing Medisoft” video training for everyone to watch.
Part 1 – is where I just add the Modifier column;
Part 2 – is where I customize the Transaction Entry Screen with time saving information that will save you hours of time – This trick shows you how to add the TOTALS of the patient payments; Ins 1 , 2 and 3 payments; Adjustments; and Remainder.  By implementing this customization, you no longer have to manually “add up” the payments from the bottom part of the payments screen to get totals and remainders;
Part 3 – is where i customize the Statement Management Screen to show you how old the statement is in days; when it was first printed; second time it was printed and last time printed; and how many times statement was printed.  Using this info, you can quickly “sort” by # of statements of Days Old to quickly identify patients for followup; collections, or write-offs;
Part 4 – is where I show you how to customize any of the “lists” in Medisoft (I give the example of the Patient\Chart and Case lists, but same method can be applied to Insurance list; procedure c ode or Diagnosis lists; provider list; referring provider list; address list or others) to look for missing data or “Wrong” data.  Lets say an insurance company changed names and or addresses and you wanted to change all existing cases to add the new data – using this method you could quickly find the patients with that insurance company and change the info.

Please click on the following link to watch the video:

[jwplayer mediaid=”1468″]

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Cycle Billing

Cycle billing is a feature that can increase the cash flow to the office. Using cycle billing allows an office to send statements out more than once a month without sending multiple statements for the same transactions. This feature is most useful in offices that do not require frequent, regular visits for their patients. To use cycle billing, take the following steps: (Note: Steps 1-3 are only required for initial setup of cycle billing. Once these steps are completed, you can begin the process of billing starting with step 4.)

  1. Open the Program Options screen to the Billing tab.


  1. You will see a section of the screen labeled Statements. In this section, there are two fields that must be configured in order to use Cycle Billing. Place a check mark in the field labeled Use Cycle Billing. You will also need to specify the length of your cycle. This is done in the field labeled Cycle Billing Days. This field should usually have 30 entered in it. With this number we are specifying the number of days that must elapse before a statement is printed again.


  1. After setting these values, click the Save button.


  2. Open Statement Management by clicking the Activities menu and Statement Management.
  3. There are certain fields that are useful when doing cycle billing. These fields do not default into your grid display within Statement Management. You will need to add these fields to the grid. Click the small black dot to modify the grid.


  1. The Grid Columns window will open. Click Add Fields.



  2. While holding the [CTRL] button down, click on the fields labeled Last Billing Date and Next Statement Date. This will select both of the fields. Click OK.


  3. You will see those two fields added to the Grid Columns window. Click OK.
  4. You will now see columns in Statement Management labeled Last Billing Date and Next Statement Date.
  5. If you follow the steps outlined above for billing your statements, you will see these fields populated. As long as you are using cycle billing, the transactions attached to statements will not appear on another statement until the date listed in the Next Statement Date field.


As previously stated, Cycle Billing is not a tool that all offices would find useful. If patients have multiple visits during a particular month, it is possible that they could get multiple statements during that month. If patients are only seen few times each year, cycle billing will allow them to send statements as often as they would like, without sending multiple statements to the same patients/guarantors.

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Change Status

Pressing the Change Status button will allow you to change the status for a group of statements. Pressing this button will bring up the following screen.

The first thing you will need to specify is which statements you wish to change. This can be done by selecting the Batch option or the Selected Statement(s) option.

Batch: Selecting Batch will allow you to specify a certain batch number, and change the status for all statements within that batch.

Selected Statement(s): This option will allow you to change the status for a statement or group of statements regardless of batch number. In order to select multiple statements, you will need to hold the [CTRL] button down and click on the statements you wish to change. This must be done PRIOR to pressing the Change Status button.

After selecting which statements you wish to change, you will need to specify the current status of the statements you wish to change. The Status From field will allow you to only change statements that have a certain status. You also have the ability to change all selected statements regardless of status. This is done by selecting the Any status type field.

Once you have selected the current status you wish to change, you will need to select the new status you wish to assign to the statements.

If you would like, you can change the billing method from paper to electronic or vice versa. This is done using the Billing Method From and Billing Method To fields.

The process is completed by clicking the OK button.

 

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List Only

Over the course of time, a practice will send out thousands of statements. Eventually, these statements are paid, and marked as done. Many or most of these statements will not be needed at any point in the future. Because of this, it is sometimes tempting to delete statements in order to clean up the Statement Management screen. This is NOT a recommended way of cleaning up the screen.

The recommended method for cleaning up your screen is to use the List Only button at the top of the Statement Management screen. Clicking this button will bring up the following screen.

Here you will be able to filter the view to include only statements that match the criteria you specify. We will not discuss the details of each field. We will focus on the Exclude Done field.

Placing a check mark in this field will cause Statement Management to automatically hide any statements that have the status of Done.

Tips and Tricks:

If you are looking at specific transactions, and those transactions are listed as being on a specific statement, you may not be able to find that statement in Statement Management. If this is the case, you will usually find that the statement is marked as done, and the Exclude Done box is checked.

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Billing Patient Statements

After creating your statements, you are now ready to bill them. When a statement is first created, it is not marked as either a paper statement, or an electronic statement. This gives you the option of sending the statement either way.

Printing Paper Statements

In order to print your paper statements, take the following steps:

  1. Create your statements using the process outlined previously.
  2. Click the Print/Send button.


  3. The following window will appear. Select Paper. You will also see a field labeled Exclude Billed Paid Entries. This field will cause the statements to ignore any transactions that have a balance of zero, regardless of whether the entire statement has been paid or not. We recommend that you check this. Once you have made your selections, click OK.


  4. You will now be asked to select a format for your patient statements. Medisoft comes standard with the formats listed. You also have the ability to modify these formats in order to create your own. If the statements you have created are remainder statements, you MUST select a remainder statement format. If the statements you have created are standard statements, you MUST select one of the other formats. After making your selection, press OK.


  5. The program will now prompt you to select where you would like to output your statements. In order for the statement to be marked as billed, you must select either the option to Print the report on the printer or Export the report to a file. Make your selection and click Start.


  6. You will see the Data Selection Questions screen. This screen will allow you to filter your statements. The Statement Total Range will default to 0.01 to 99999. This means that you will only get statements with a total between 1 cent and $99,999. If you want zero or negative balance statements, you will need to modify this value. You will also see a Statement Number Range. This filter will default to a range including the entire range of statements in statement management. Do not change this filter. Make any other selections you wish to filter on and click OK.


  1. The statements will be sent to the output device previously specified.

You will note that Statement Management works in a much different manner than Claim Management. The statements printed are NOT limited to those statements with a status of Ready to Send and a batch set to 0. You will get any statements that have charges with outstanding balances on them.

Additionally, if the same patient or guarantor has multiple statements created in statement management, those statements will NOT print out on separate forms. They will be combined into one statement when printed. There is one exception to this condition. If you have created statements in both the standard and remainder formats, the statements will not merge with other statements with a different type.

Tips and Tricks:

It is possible that charges appear on a remainder statement prior to being paid by the insurance carrier. This has to do with the allowed amount settings. See the Allowed Amount handout for more information.

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Billing Patient Statements

After creating your statements, you are now ready to bill them. When a statement is first created, it is not marked as either a paper statement, or an electronic statement. This gives you the option of sending the statement either way.

Printing Paper Statements

In order to print your paper statements, take the following steps:

  1. Create your statements using the process outlined previously.
  2. Click the Print/Send button.


  3. The following window will appear. Select Paper. You will also see a field labeled Exclude Billed Paid Entries. This field will cause the statements to ignore any transactions that have a balance of zero, regardless of whether the entire statement has been paid or not. We recommend that you check this. Once you have made your selections, click OK.


  4. You will now be asked to select a format for your patient statements. Medisoft comes standard with the formats listed. You also have the ability to modify these formats in order to create your own. If the statements you have created are remainder statements, you MUST select a remainder statement format. If the statements you have created are standard statements, you MUST select one of the other formats. After making your selection, press OK.


  5. The program will now prompt you to select where you would like to output your statements. In order for the statement to be marked as billed, you must select either the option to Print the report on the printer or Export the report to a file. Make your selection and click Start.


  6. You will see the Data Selection Questions screen. This screen will allow you to filter your statements. The Statement Total Range will default to 0.01 to 99999. This means that you will only get statements with a total between 1 cent and $99,999. If you want zero or negative balance statements, you will need to modify this value. You will also see a Statement Number Range. This filter will default to a range including the entire range of statements in statement management. Do not change this filter. Make any other selections you wish to filter on and click OK.


  1. The statements will be sent to the output device previously specified.

You will note that Statement Management works in a much different manner than Claim Management. The statements printed are NOT limited to those statements with a status of Ready to Send and a batch set to 0. You will get any statements that have charges with outstanding balances on them.

Additionally, if the same patient or guarantor has multiple statements created in statement management, those statements will NOT print out on separate forms. They will be combined into one statement when printed. There is one exception to this condition. If you have created statements in both the standard and remainder formats, the statements will not merge with other statements with a different type.

Tips and Tricks:

It is possible that charges appear on a remainder statement prior to being paid by the insurance carrier. This has to do with the allowed amount settings. See the Allowed Amount handout for more information.

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Transactions

The Transactions tab will show you which charges are attached to this statement.

You will also have the same options on this tab as you did on the corresponding tab within Claim Management.

Add: Clicking the Add button will allow you to add eligible transactions to this statement. In order for a transaction to be eligible for addition, it must meet the criteria required for the type of statement you are editing. This means that all conditions discussed during the Troubleshooting Creating Statements must be met.

Split: If you click the Split button, you will be able to split transactions off of the existing statement and onto a new statement.

Remove: Clicking the Remove button will take the highlighted transaction off the statement. That transaction will then be subject to addition to another statement if it remains eligible.

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Editing a Patient Statement

Once your statements are created, you can view and edit those statements from within Statement Management. To edit a statement, simply double-click the statement you wish to print. The following screen will appear.

The upper portion of the screen will be available regardless of which tab you have selected. This section of the screen will tell you the statement number, who the guarantor is, the remainder balance, and the date the statement was created.

General

On the general tab, you will see general information regarding this statement.

Status:  The Status field tells you where in the billing process this statement is.  When a statement is first created, it has a status of Ready to Send.  When a statement is first billed the status is changed to Sent.  Once the balance of all transactions on the statement reaches 0, the status is changed to Done.  The other status fields are used for your own purposes.  If you wish to use these other codes, you must manually set the statements to these status codes.

Billing Method:  The Billing Method field lets you specify whether you want to print out a paper statement or whether you want to send the statement electronically.

Type:  The Type field specifies whether the statement is a standard or remainder statement.  As you can see, this field is not one you can modify.  If you need to change this for any reason, you MUST delete the statement and recreate it.

Tips and Tricks:If you create standard statements and wish to change them to remainder statements, you will not be able to create statements for all of the patients originally listed in statement management.  This is because standard statements look for any charge with a balance, while remainder statements only look for charges making up the patient’s remainder balance.

 

Initial Billing Date:  This field specifies the first date the transactions attached to this statement were actually billed on a statement.

Batch:  The batch number is updated the first time a statement is printed or sent.  All statements billed at the same time will be assigned the same batch number.

Submission Count:  The Submission Count field tracks how many times the transactions attached to this statement have been billed to the guarantor

Billing Date:  The Billing Date field will tell you the last time these transactions were billed to the guarantor.

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Capitation Payments

Capitated plans are a different type of insurance plan. This type of plan pays the doctor or group a specific amount of money to see a group of patients each month. This amount is paid regardless of how often these patients are seen. This means that the payments are not related to specific charges.

To enter a capitated payment, take the following steps from within the Deposit List:

  1. Click the New button.


  2. In the Date field, enter the date you received the capitation payment.
  3. Select Capitation in the field labeled Payor Type.
  4. The screen display will change. You will note that the code fields will no longer be available to you.


  5. In the field labeled Payment Amount enter the amount of the capitation payment you received.
  6. The Insurance field should contain the insurance code for the carrier making the payment.
  7. Enter any other fields as necessary.
  8. Click Save.

You will see the capitation payment listed on your deposit list. You will not be able to apply it. Because the payment is not for specific charges, you do not need to apply it. Any charges that were entered into capitated accounts should have been written off at the time of entry.

Neither capitation payments nor charges have any affect on your practices AR. Because you cannot apply the payment, it will never appear on most of your accounting reports. The only report that will show capitation payments is the Deposit List report. The only file affected through this process is the MWDEP.ADT file.



 

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