OrthoTrac: Setting Up Contracts and Payment Plans

Document created by tshaw Employee on Apr 15, 2016
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The Contracts and Payment Plans function enables you to enter and maintain contracts and payment arrangements. Four payment arrangement types are available:

  • Contracts: Enable you to enter a total contract balance and set up payments to be rolled in periodically, for example, monthly, quarterly, semi-annually, or annually, until treatment is completed. Production is updated as each charge is rolled in.
  • Payment Plans: Function the same as contracts, but production figures are not updated each month. Payment plans are used for services that are produced in a single visit or to refinance delinquent accounts without duplicating production. The patient is able to spread payment over a given period of time.
  • Visit Charges: Enable you to set up a charge that is applied to the account each time the patient checks out.
  • Monthly Fees: Enable you to set up a charge that is applied to the account each month with no contract.

The process for setting up any of the payment arrangement types begins in the Financial Functions — Contracts and Payment Plans window.

The top portion of the Financial Functions — Contracts and Payment Plans window contains basic patient information and includes Band Date and Est Comp fields. Change the dates in these fields by entering the new date directly into the field or by clicking on the Calendar icon and selecting the date from a calendar.

The left side of the window displays the contract description, total contract amount, and the portion allocated to each responsible party and insurance carrier. Below the responsible party grid are fields for the statement code, late charge amount, risk code, and discount for the responsible party or insurance carrier selected. Below these fields is a selection box that displays the contract type for the selected responsible party or insurance carrier.

The right side of the input area contains the payment arrangement details for the selected responsible party or insurance carrier. This portion of the screen changes, depending on the type of payment arrangements.

The payment arrangement details for a contract include the contract amount, initial fee amount, remaining balance (or amount financed), payment amount, number of payments, initial fee due date, and contract start date. The Contract Type selection box enables you to indicate if payments should be made on a monthly, quarterly, semi-annual, or annual basis. A payment grid displays all contract charges and enables you to vary the amount of charges in the case of a split down payment, balloon payment, or variable payment contract.

After a contract has become Active, you can change only the number and amount of uncharged contract payments. A Pending contract can be changed in any way or deleted.

After a contract has become Active, you can change only the number and amount of uncharged contract payments. A Pending contract can be changed in any way or deleted.

The contract status is indicated in two ways.

  • In the Financial Functions — Contracts and Payment Plans window, A or P is displayed to the left of the responsible party grid.
  • When a responsible party or insurance carrier is selected in the grid, the contract status (Active or Pending) is displayed at the top of the contract input display.

 

To access the Financial Functions — Contracts and Payment Plans window, do the following:

1.    Click the Financial Functions button in the patient chart. The Financial Functions — Charges and Payments window is displayed.

2.    Click the Contracts and Payment Plans button. The Financial Functions — Contracts and Payment Plans window is displayed.

OR

If you are working in another financial window, click the Contracts and Payment Plans button. The Financial Functions — Contracts and Payment Plans window is displayed.

 

IMPORTANT: Select Reports > Contract > Fact Sheet in the Financial Functions — Contracts and Payment Plans window to print a copy of the fact sheet, which contains all pertinent information about the contract and contract payments. This is the only area in the software where you can access this report.

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