Daily Reports
After the daily routine of demographics, charge entry, claims processing etc are done, the accounting day is closed. This is a process wherein you are closing a particular day and opening the next day for data entry. After this process is completed and before any activity of the new accounting date begins, the following reports need to be taken.
Daily Report
– This gives the total value of charges, insurance receipts, patient receipts, write offs and charge adjustments and the number of procedure units entered on a particular accounting date and the gross AR as on that date by doctor.
Month End Reports & Financial
When the activities for a particular month comes to an end, the month close has to be run. This is similar to the day close, the only difference being the reports. The following reports need to be taken.
Aged Accounts Receivable Summary
– This report gives the total balance outstanding by patient type by age as at the end of the month.
Aged Accounts Receivable Detailed
– This report gives the balance outstanding by patient type by age for each patient as at the end of the month.
AR Days Outstanding
– This report shows what is the AR days for your project as at the end of the month. AR days shows how much of your daily charges constitutes the overall outstanding AR. For e.g. if the average charge per day for your specialty is $1000 and the Gross AR outstanding is $100K then your AR days is 100 days. The Average charge per day is calculated using the last three month’s charges.
Doctor Financial
– This report gives you the total charges, insurance receipts, personal receipts, charge adjustments, insurance write off & change in AR for each doctor for the month or as on date based on the parameters you run the report.
Patient Type Financial
– This reports gives you the total charges, insurance receipts, personal receipts, charge adjustments, insurance write off & change in AR for each patient type for the month or as on date based on the parameters you run the report.
Monthly Financial
– This reports gives you the total charges, insurance receipts, personal receipts, charge adjustments, insurance write off & change in AR for each month.
The above reports are presented to the doctors after every month close. The figures depicted by these reports show the efficiency or otherwise of the billing office. The major criteria for assessing a billing office’s performance is high collections and low AR. If the reports show otherwise, then the billing office is onto problems which may result in termination of contract.
Account Receivable specialist
Account receivable billing
Account receivable new provider
Account receivable reports
Account receivable common terms
