Statements are generated once a month, typically around the 5th of the month for the previous month.
Example: On 12/5 (December 5), Denticon’s team will generate statements for all Responsible Party accounts which owe a patient-portion amount to the office. The statement date will be 12/1 (December 1).
Note: The statements will be generated and sent out 3 business days after the last day of the month at 5PM Pacific time.
Statements will:
· Indicate any Previous Balance due prior to the statement generation
· Itemize any financial transactions recorded in the account since the Responsible Party account’s last statement generation
Monthly batch statements are generated according to Denticon’s default parameters. To review the parameters:
· Click the word “Reports” and choose the “Statements” option from the drop-down box
· The patient-portion amount due in the Responsible Party account must be over $5
· The “Exclude accounts where patient portion is paid & insurance portion is expected” field indicates:
o If a Responsible Party account has a patient-portion balance less than $5, the account will not be generated a statement
o If a Responsible Party account has a credit patient-portion balance, the account will not be generated a statement
Denticon will “Update Statements” at the conclusion of the batch statement process, which will:
· Insert a line in the ledger to indicate a statement has been generated to the Responsible Party: Statement Sent ($XX.xx)
· Lock the Responsible Party account regarding financial changes to previously recorded transactions
Note: The Statement Sent Line will reflect in the ledger the next business day from the Scheduled On Date indicated in the Statement screen.
Prior to Denticon’s generation of the statements, the office is encouraged to generate a report in order to understand which accounts will generate a statement:
- Click the word “Reports” and choose the “Statements” option from the drop-down box
- Click the Print Statement Report button
If the Statement Report indicates an account which the office determines should not generate a statement, the office has the opportunity to resolve the account in the desired way:
- enter payments within the account
- enter adjustments within the account
- exclude Resp Party Type(s)
- remove the checkmark from the “Send Statements” box within the Responsible Party Information screen
NOTE: Account aging begins when a procedure is entered as completed. Account aging does not consider by which payment method the account balance is ultimately paid: cash, check, credit card, or insurance.
Finance Charges must be generated by the office. Please refer to this link to assist How can our office update our Finance Charge settings and apply the charges to our past due accounts?