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The Financial
Summary Report gives the provider a quick overview of
the financial health of his/her practice. Here is a sample
Financial Summary Report generated
by the Team Chart Concept:
The above Financial Summary Report has been divided by color
into the following five sections:
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Insurance
CLAIMS That NEED TO BE FILED:
-
Insurance
CLAIMS That HAVE BEEN FILED:
-
PATIENT
RESPONSIBILITY:
-
OUTSTANDING
CHARGES:
-
PROVIDER
CHARGE BREAKDOWN:
By looking at the numbers
in each of the above sections, you can quickly determine where any
financial problems may be within your practice.
The Insurance
CLAIMS That NEED TO BE FILED section summarizes all of
the Insurance Claims in your office that have NOT yet been filed
(sent to) the Insurance Company.
Charges that are marked as 'NOT OK To Bill' may be waiting
on Pathology Reports to come back, or perhaps (horrors) the provider
has not finished entering his/her dictation. If numbers are
large in this section, it points to a problem in your office.
The Insurance
CLAIMS That HAVE BEEN FILED section summarizes the amounts
on all outstanding Insurance Claims. It is divided into claims
less than 45 days old and claims greater than 45 days old.
Large amounts greater than 45 days old indicate problems at the
Insurance Company, and your billing staff should act accordingly
on those claims.
The PATIENT
RESPONSIBILITY section summarizes the amounts of all
outstanding charges that are the responsibility of the Patient.
It is also divided into charges less than 45 days old and charges
greater than 45 days old. Again, large amounts here may indicate
problems with Patients paying their bills, and your billing staff
should act accordingly.
The OUTSTANDING
CHARGES section displays aging information for each provider
in your practice. The sample report above only has one provider.
Large amounts here should again encourage your billing and collection
staff to take appropriate action.
The PROVIDER
CHARGE BREAKDOWN section displays a 6 month Productivity
summary for each provider in your practice. The provider and/or
billing staff can take whatever action is deemed necessary based
on the numbers shown here.
As you can see, the Financial Summary Report
gives the provider and relevant staff members an immediate 'how-are-we-doing'
look at the overall financial health of the practice. This
Report is available with one mouse click from the toolbar for all
users authorized to have access. No more waiting for office
staff, billing clerks, or accountants, to come up with the numbers.
Here they are.
Every time a Financial Summary Report
is run, it is saved to the Timeline for historical purposes
so that you can compare old reports to your current situation.
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Financial
Summary
