PracticeWorks: Setting Up Statement Information

Document created by tshaw Employee on Aug 24, 2016
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When deciding what to put on your statements, the most important field to include is Print amount due and date. There are many other options to help you determine what, when, and how to print your statements.

 

To set up statement defaults, follow these steps:

 

1.   In the PracticeWorks software, click the File menu, and select Preferences > Statement setup. The system prompts you for your initials and password, which you must enter to continue. The Office Wide Statement Setup window is displayed.

 

2.   Check the appropriate boxes in the Should we print area.

  • Make sure that Print mail statements is always checked.
  • Enter the smallest amount for which you will prepare a statement in the Minimum balance to print field.
  • Check Print zero balances to show the payment amount that pays off the balance. This tells the system to print one statement for the patient after a $0.00 balance is achieved and then stop.
  • Check Print credit balances to print statements for accounts with a credit balance.

 

3.   Check the appropriate boxes in the When to print area.

  • In the Billing cycle fields, check monthly for monthly statements or check in days __ and enter the number of days for the billing cycle if you want to send statements more frequently than once a month.
  • For daily billing, enter 0 in Day of the month to print to have the PracticeWorks software calculate the appropriate billing date for each account. If you do not want cycle billing, you can enter a day, such as 10, so that statements are due to be printed on the 10th of every month.
  • If you entered 0 as the day of the month to print, check the Reset when balance paid box to reset each account’s statement cycle when it is paid off.
  • If you entered 0 as the day of the month to print, check the Reset when ins pmt received box to send a statement and reset an account’s statement cycle whenever you post an insurance payment to the account.
  • The New activity delay __ days field determines how many days to wait after an account goes from a zero balance to a positive balance (usually after a visit), before the first statement is sent.
  • Check the Delay until ALL insurance clears box if you want to wait for all insurance payments on the account to clear before sending a statement to the patient.

         Note: Doing this results in no statements being sent to a patient if there is an outstanding insurance claim.

 

4.   Check the appropriate boxes in the What to print area.

  • To print specific payment instructions, check the Print amount due and date field, and set the number of days you want between the statement date and the due date. It is recommended that you check this box and set the due date to 10 - 25 days from statement printing. Do not set it to more than 29.
  • Check the Subtract ins estimate from amt due box if you want the insurance estimate amount to be subtracted from the amount due. It is recommended that you check this box.
  • Enter a number in the Claim is stale after __ days field if you check the preceding box. This enables you to set a time to wait for insurance to pay before you ask the patient to pay the full balance.
  • If you want ADA codes to print on your statements, check the Print procedure code box. This is useful if you do not accept assignment of benefits and do not print insurance forms for your patients.
  • If you want your statements to print the name of the provider who performs each procedure, check the Print provider information box.
  • Check the Print account age message box if you want statements to print the 30 days, 60 days, 90 days, or 120 days information.
  • Check the List outstanding claims box if you want the statement to print information about the patient’s outstanding insurance claims.
  • Under Transactions to print, select since last statement to print only new transactions on the account, or details of balance to print all the transactions still reflected in the account balance.

 

5.   Enter the appropriate information in the Charges to add area.

  • Check the Charge interest box if you want to charge interest on an outstanding balance.

         Note: Because of the way the software handles account aging, you should not select Charge interest on your first statement run.

  • If you use payment plans, you can check the Charge interest on pay plan box to charge interest on the entire account balance, including the amount deferred to the payment plan. If you do not check this box, interest is charged only on the amount due.
  • If you charge interest, enter a percentage in the Monthly interest rate field. Multiply this number by 12 to determine the annual interest rate you are charging. For example, a monthly rate of 1.5% equals an annual rate of 18%.
  • If you want the PracticeWorks software to assess a re-billing fee instead of a small interest charge, enter an amount in the Minimum interest charge field. When interest is calculated and it is less than the amount in this field, this amount is charged and referred to as a re-billing fee.
  • Enter a number in the Interest grace period [days] field to determine how many days to wait from a transaction date before charging interest.
  • Enter an amount in the Minimum balance to charge interest field to avoid charging insignificant interest amounts to small balances. This should match the amount in the Minimum balance to print box.
  • Enter an amount in the Late charge field if you want to charge your patients for not remitting payment by the due date.
  • If you elect to have late charges, you can set a grace period in the Late charge grace period [days] field. This number, when added to the number of days from the statement that payment is due, should not be greater
    than 29.

 

6.   Check the appropriate boxes in the Walkout statement options area. These apply only to walkout statements.

  • Check the Print amount due box if you want the current amount due for each account to print on walkout statements. This amount is the amount due from the last mail statement, minus any payments received.
  • Check the Print walkout statement after checkout box if you want the Print and Submit Options window, which pops up after checkout, to default to having this option checked.
  • Check the Print today’s date in DUE DATE box if you want the amount to be due right away.

 

7.   When you have finished in the Office Wide Statement Setup window, click OK. You can return to this window any time, before or after your first statement is processed.

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