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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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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medisoft-statement-management-overview

Introduction

After receiving payment from the insurance carriers, the next step in the billing process is to bill patients for any remaining amounts. This process often includes the need to collect from patients on balances not paid. This chapter will discuss the different methods of billing statements, as well as the ways Medisoft can enable your office to better collect outstanding debts owed by patients. Additionally, we will discuss the process for collecting charges owed but not paid by insurance carriers.

Types of Balances

When billing patients for their outstanding balances, it is crucial that you have an understanding of the different types of balances. Within Medisoft, there are two types of patient balances. There are also 3 insurance balances

  1. Patient Reference Balance: The patient reference balance contains all charges in the patient’s ledger that have any outstanding balances. As soon as a charge is entered it is reflected in the patient reference balance. If a transaction is set to be billed to an insurance carrier, the patient reference balance is the only balance it resides in until the claim is billed. When looking at the Transaction Entry screen, the field labeled Account Total will show you the patient reference balance.
    Standard patient statements will include patient reference balances.

  2. Patient Remainder Balance: Patient remainder balances contain charges for which no insurance carrier is responsible AND charges that have been complete payments made by all responsible insurance carriers. By “complete” we mean that the payments entered for the insurance carriers and that payment has been applied and marked “complete” in the payment application screen.
  3. Primary Insurance Aging Balance: When dealing with primary insurance aging balances, we are looking at the amount that is owed by all primary insurance carriers. A charge enters this balance at the point it is billed to the primary insurance carrier. A charge leaves this balance at the point a payment is applied from the primary carrier AND that payment is marked complete.
  4. Secondary Insurance Aging Balance: This balance functions similar to the primary insurance aging balance. A charge enters this balance when the primary insurance carrier makes a complete payment AND when the secondary claim is billed. A charge leaves this balance at the point a payment is applied from the secondary carrier AND that payment is marked complete.
  5. Tertiary Insurance Aging Balance: The tertiary insurance aging balance functions like the secondary insurance aging balance. A charge enters this balance when the secondary carrier makes a complete payment AND when the tertiary claim is billed. A charge leaves this balance at the point a payment is applied from the tertiary carrier AND that payment is marked complete.
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MultiLink Entry

MultiLink codes are used to enter multiple charge transactions at the same time. Many provider offices will find that they are entering the same groups of procedure codes for the same types of visit. An example of this would be a well-patient exam. MultiLinks allow you quickly enter all of those transactions.

MultiLink codes must be set up prior to clicking the MultiLink button in Transaction Entry. This is done by clicking the Lists menu and MultiLink Codes. You will see a list screen similar to the other list screens. Click the New button. The following screen will appear:


Code: The MultiLink Code field functions like the code fields in the other Medisoft list windows. The code is the value you will enter within transaction entry in order to enter charges for all the linked procedure codes.

Description: When entering the Description, it is important to make an entry that adequately describes the group of procedure codes. This will allow you to more easily determine when it would be appropriate to use this code.

Link Codes: The Link Codes are used to specify which codes will be entered into Transaction Entry when this MultiLink code is used. The transactions will be entered in the order they are entered into these fields. You can type the procedure code, or select it from the drop-down menu. If you need search capabilities, click the magnifying glass.

Tips and Tricks:

You can only enter charge type codes into MultiLinks. You cannot use MultiLinks to enter payments or adjustments.

Once you have finished setting up the MultiLink code, click Save.

After setting up your MultiLinks, they can be entered into Transaction Entry by clicking the MultiLink button.


Once you click the MultiLink button, you will see the following screen.


In the field labeled MultiLink Code, enter the code for the group of transactions you wish to enter. The Transaction Date field will automatically default to the program date specified in the lower right corner of the Medisoft screen. Once you are have selected the correct information, click Create Transactions. The desired charges will be listed in Transaction Entry. Click Save Transactions.

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