(Last Updated On: May 12, 2020)

Practice Manager offers a wide variety of financial reports that allow you to stay on top of your account receivables in both detail and in summary. Each office becomes familiar with certain reports that will satisfy their office’s basic financial questions, yet every day users are still discovering reports that work better for their unique workflow. With such a variety of reports to help you track down money owed to you, we wanted to share some important details of our most recommended financial reports.

The Aged Insurance Receivable Report

The Aged Insurance Receivables report provides a listing of all open balances that have been billed to the insurance company. These aged charges are still awaiting insurance payments and are broken down by Insurance Company. The report shown below was generated by Last Bill Date which means, it is based on the last date the charge was billed to the insurance company, and this determines whether it is in the 0-30 days, 31-45 days, 46-90 days and over 90 days.

If you are looking to track down your oldest unpaid charges, you may also run this report by First Bill Date and change your Aging Columns by selecting the Other Criteria button as shown below.

From this report you can look for possible rejections on your 999 Report and Change Healthcare’s Customer Portal (Vision) (https://access.emdeon.com/CIHS/).  If a rejection is found, then you or your staff can make the necessary corrections and rebill the charge for your much-anticipated payment.

The Aged Patient Receivables Report

The Aged Patient Receivables report provides an aged listing of all open balances that are the patient’s responsibility currently, including phone numbers to enabling you to call your patients to make payment arrangements, or decide if they should go into collections.


The Charges Not Yet Billed Report

The Charges Not Yet Billed report allows you to see what charges have not been billed, which often forgotten, but very important to check! You can run this report for charges due from either Insurance or Patients quickly & easily by clicking the configuration drop down, shown below. Typically, these reports should be generated after you have performed billing to find any charges that did not make it through the billing process. Used in this manner, this report allows you make sure that all applicable charges are billed out on time, allowing you to see the charges that may still be deferred and should have been billed.

This is an example of Charges Not Yet Billed for Insurance. The Due From columns shows you what insurance the charge is out to, whether it is the Primary (Ins 1), Secondary (Ins 2), Third (Ins 3), or Fourth (Ins 4). In the example below, all these charges are out to the primary insurance.


The Aged Receivable Report

The Aged Receivable report gives you a good summary of your current financial flow.  This report lists the totals of all open balances due from all Patients and each Insurance Company, as well as Credits, Charges in Collections and charges that have Not Been Billed -at the time the report was generated. Note that credits are shown as a negative figure since it is money the practice owes and are therefore subtracted from the amount owed to you. This report should be generated immediately after you close each Month End and saved for future reference, because these totals change constantly as payments and charges are being entered in the system each day.


The Accounts Receivable Summary Report

The Accounts Receivable Summary report displays a running total of Accounts Receivable on a monthly basis. It displays information regarding previous and current month totals which is a great benchmarking tool, at a glance, as you can easily see trends in your A/R over time.  It can be generated based on Billing Provider, Facility, Practice, Provider, or Referring Provider. The report lists each Month End Date’s totals and a Current line as of [the date you ran the report]. The Amount This Period is calculated from:

MTD Charges – MTD Payments – MTD Write Offs = Amount This Period.

The Amount this Period will then be either added or subtracted from the Closing AR This Period from the prior month. NON A/R Payments are the total Capitated, Incentive and System Payments that were paid but not anticipated (hence Non A/R), and these are not included in the Amount This Period or Closing AR This Period totals. To match payment amounts from other reports, combine the A/R MTD Payments & NON A/R MTD Payments. **If the amount this period is a negative amount, that will show your receivables went down, which means less is owed to you, which is good!**

In Conclusion…

All these reports were created to steer you in the direction needed to work your aged receivables which is unique for each office. Regardless of which report(s) you use, nothing is more important than signing into Change Healthcare’s Customer Portal (Vision) to find those rejected charges, so you can make necessary adjustments and rebill as soon as possible. Looking up each outstanding charge to make sure they are all paid is the key to keeping money flowing in the door for years to come!

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