Payments and Adjustments are used to reconcile the finances in a patient’s account. Setting up the payment and adjustment types will ensure that the descriptions work for the organization and function the way that’s needed in order to ensure accurate accounting.
Payment Types
The payment types are used when collecting and posting patient payments as well as insurance payments. There are eight fields that make up the payment type.
Creating New Payment Types
- Once the Code and Description are entered, ensure that the type is set to ‘Payment’, and select the ‘Sub Type’ to match how the payment will be collected.
- For all payment types, the sign must be ‘minus’ and that cannot be changed.
- Select which class best matches the use for the payment type. All payment types aside from those with a sub type of Third-Party Financing can be shown in the payment portal.
- Example use cases by Sub Type:
- Cash:
- Check:
- Patient Payment
- Insurance Payment
- Credit Card:
- Insurance Payment
- Direct Deposit
- Patient Payment
- Insurance Payment
- None
- Patient Payment
- Insurance Payment
- Third-Party Financing
As a reminder, when selecting the Sub Type of Third-Party Financing, an additional class option is available for CareCredit Payment.
- Patient Payment
- Example use case by Payment Type Class
- Capitation Payment
- Access this screen from Transactions - Capitation Payment
- Collections Agency Payment (Transworld)
This example is shown on the patient payment screen the Transactions Entry
- Insurance Payment
- Insurance Prev. Balance
- None
- CareCredit Payment
Adjustment Types
Adjustments are used to modify balances in the patient’s ledger. There are 7 fields that make up the adjustment.