Version 21.3
Overview
This section describes the A/R Aging information found on the A/R Summary tab of the Billing Overview.
Billing Center: Overview
Why is this Important?
An Accounts Receivable Aging ("A/R Aging") report helps is a key metric in the financial status of a practice. It shows how long beyond the date of service insurance companies and patients are taking to pay their bills.
A/R Aging Grid
This grid presents a high-level snapshot. The most current A/R -- money owed with dates of service 0-30 days ago -- is presented on the left, with the oldest A/R on the right. The money is divided into aging "buckets" of 30 days. Receivables appear in two segments: insurance amounts in the top row, and patient amounts in the bottom row. The percentage reflects how much of the total A/R for that segment is in that aging bucket. In general, healthy A/R appears on the left of the grid; A/R beyond 120 days gets harder to collect. Having "fresh" A/R that's <30 days old suggests you had a busy month last month. "Old A/R" may be past timely filing or may need significant effort or correction to collect. That said, a practice that simply writes off money any time it encounters a challenge may have fabulous-looking A/R but a skinny bank account. In any event, seeing the details of what's in each bucket helps you understand why. Here are a few ways to get drill down details:
- In Billing > A/R, choose one of the available report types to see buckets broken down by payer, provider, and location. You can see summary totals or individual patient-level details.
- You can see unpaid insurance-side and patient-side amounts at the claim level by going to the Billing Center (F9) and selecting the Claims (A/R) tab. Use the dropdowns in the panel to isolate by Payer, Provider, Date Range and/or Location to work your A/R in sections.
Refreshing the Grid
The grid should be recomputed every time you daysheet. Otherwise, your aging amounts will not show the most current information. The Last Daysheet ID shows the ID number of the last daysheet created by your office. The Last Daysheet processed for shows the ID number after which you last updated the grid.
If these numbers don't match, an Update button will appear. Click the Update button to process all daysheets since you last clicked the button into your A/R Aging grid.
Version 14.19
Overview
This section describes the A/R Aging information found on the A/R Summary tab of the Billing Overview.
Billing Center: Overview
Why is this Important?
An Accounts Receivable Aging report is a key metric in understanding the financial status of practice. It shows who owes money and for how long.
A/R Aging Grid
- What is this?
- A high level snapshot is presented, showing money owed by patients’ insurance and money owed by the patients directly. The data is presented from most current A/R to the oldest A/R from right to left with a percentage following each Aging Bucket.
- Keeping it Healthy
- A/R is healthiest when the highest percentages are the most current.
- Monitor for any changes in the total A/R and ask yourself.
- Were more patients on the schedule or did I receive fewer payments?
- Watch for any change to the percentages. Any increase in 0 to 30 is great, any decrease should cause you to investigate.
- For More Information
- Go to the Reports Menu to the A/R Aging Analysis Report for a grid with drill down information to see more about the outstanding charges.
- Go to the Claims + A/R tab “All daysheeted claims (A/R)” and OP will display all outstanding claims. Use the dropdowns in the panel to isolate by Payer, Provider, Date Range and/or Location to work your A/R in sections.
Why is this Important?
The two Daysheet IDs that are listed below should match. If they do not, press Update to refresh your A/R information based on the most recent daysheet. To maintain the most current Aging report, the 'Update' process should be run after running the last daysheet of the day.
Last Daysheet ID
- What is this?
- OP lists the identification number associated with the last daysheet the practice has processed.
Last Daysheet Processed for A/R
- What is this?
- This is the last daysheet that has been incorporated into your A/R reports.
