Outstanding Balances

Overview of the Outstanding Balances Page

The Outstanding Balances Page is a comprehensive tool designed to help you track and manage unpaid balances for your accounts. This page offers detailed insights through filters, charts, and tables, making it easy to analyze overdue amounts and take action where needed. Key Features of the Outstanding Balances Page 1. Summary Metrics At the top of the page, you'll find quick metrics summarizing the outstanding balances: - Total Outstanding: The total unpaid amount across all accounts. - Collected From Balances: Displays the amount collected from outstanding balances during the selected time period. - Balances Closed: The number of accounts with fully resolved balances. - Amount Older Than 30 Days: Highlights overdue balances exceeding 30 days. 2. Filters The filters allow you to customize the data displayed to focus on specific accounts or categories: - Outstanding Accounts: Filter accounts based on their status. - All Types: Narrow results by balance type (e.g., Patient Portion, Insurance Portion). - Filter by Aging Bucket: View balances grouped by the age of the debt (e.g., 30-60 days, 120-150 days). - Date Range: Select a custom date range to analyze balances for a specific time period. 3. Charts Visualize your outstanding balances with interactive charts: - Collected from Balances: Displays the amounts collected over time. - Outstanding by Aging Bucket: - Breaks down balances by their aging categories to help prioritize collections. - Outstanding by Balance Type: - Segments balances into Patient Portion and Insurance Portion for clarity. 4. Table of Outstanding Accounts The detailed table provides granular information for each account: - Account: Displays the name and identifier of the account holder. - Total Outstanding: The total balance owed by the account. - Account Portion: The portion of the balance owed by the patient. - Insurance Portion: The portion of the balance covered by insurance. - Aging Bucket: Groups balances by their age (e.g., 30-60 days, 720+ days). - Days Past Due: Indicates how many days the balance is overdue. - Status: Shows whether the account is active or inactive. Using the Outstanding Balances Page 1. Analyze Key Metrics: - Review the summary metrics and charts to understand the overall state of your outstanding balances. 2. Focus on Priority Accounts: - Use filters to highlight overdue balances or specific aging buckets for immediate follow-up. 3. Take Action: - Drill down into specific accounts in the table to view more details or initiate payment collection activities. Benefits of the Outstanding Balances Page - Streamlined Analysis: Quickly identify priority accounts and overdue balances. - Actionable Insights: Use filters and charts to target specific issues and plan collections strategies. - Improved Collections: Focus efforts on the most critical accounts to optimize recovery. The Outstanding Balances Page simplifies managing unpaid balances by combining powerful visualization tools with actionable data. For questions or assistance, contact your account manager or reach out via real-time chat support!

Understanding Outstanding Balances

The Outstanding Balances section provides a detailed breakdown of the amounts owed by each account. It separates the total outstanding amount into two key components: Account Portion (or Patient Portion) and Insurance Portion (or Insurance Estimate). This data is not only reflected on the Account Detail Page but also forms the basis for Auto Collection Rules. Key Components 1. Total Outstanding - Definition: The combined amount owed by the patient and the insurance company. - Formula: Total Outstanding = Account Portion (Patient Portion) + Insurance Portion (Insurance Estimate). - Purpose: Provides a complete view of the total unpaid balance for an account. 2. Account Portion (Patient Portion) - Definition: The amount the patient is directly responsible for paying. - Details: - Also referred to as the "Patient Portion." - Represents the out-of-pocket amount not covered by insurance. - Use Case: - Focus on collecting this amount from patients as part of payment collection activities. 3. Insurance Portion (Insurance Estimate) - Definition: The amount expected to be covered by the patient’s insurance provider. - Details: - Also referred to as the "Insurance Estimate." - Reflects the projected payment from the insurance based on coverage details. - Use Case: - Monitor and follow up with insurance companies to ensure timely reimbursement. How This Data is Used 1. Account Detail Page - The Total Outstanding, Account Portion, and Insurance Portion are prominently displayed on the Account Detail Page. - This breakdown allows you to quickly see the financial responsibility split for each account and take informed actions. 2. Auto Collection Rules - Foundation for Rules: - The Account Portion is used to trigger auto collection activities for overdue balances. - Balances with an Insurance Portion are excluded from auto collection, focusing efforts on amounts the patient owes directly. - Customizable Rules: - Auto collection rules can be tailored to target specific aging buckets, total outstanding thresholds, or patient balances. How to Use This Information 1. Track Balances: - Quickly identify how much is owed by the patient versus the insurance provider for better prioritization. 2. Focus on Collections: - Prioritize collecting the Account Portion (Patient Portion) to reduce outstanding balances. 3. Leverage Auto Collection: - Use the data to set effective rules for automated payment reminders and collections. 4. Insurance Follow-Up: - Ensure claims are processed and reimbursed for the Insurance Portion (Insurance Estimate). This breakdown simplifies managing outstanding balances by clearly distinguishing between patient and insurance responsibilities, while also enabling efficient automation through auto collection. For further assistance, contact support or your account manager. 4o

How Outstanding Data is Synced

The Outstanding Balances data is an integral part of managing your accounts, providing clear visibility into what is owed by patients and insurance providers. This data is automatically synced from your connected EHR/PMS system to ensure accuracy and consistency. Here's an overview of how the synchronization works and how you can manage this data. How the Sync Works 1. Daily Sync: - By default, the outstanding balances are pulled daily from your connected EHR/PMS system. - This ensures the data reflects the most up-to-date financial details for all accounts. 2. Increased Sync Frequency: - If you need more frequent updates (e.g., hourly syncs), we can increase the sync frequency upon request. - Contact your account manager or support team to customize the sync settings for your practice. 3. Real-Time Accuracy: - The sync includes updates to account balances, aging buckets, patient portions, and insurance estimates to provide an accurate snapshot of outstanding amounts. Managing Outstanding Balances 1. Adjust Balances on the Account Detail Page - Editable Data: - If discrepancies arise or adjustments are needed, you can manually update the outstanding balance directly on the Account Detail Page. - Steps: - Navigate to the specific account. - Edit the Patient Portion or Insurance Portion to reflect accurate amounts. - Save changes to ensure the updated balance is displayed across all relevant views. 2. Monitor Aging and Collection Activity - The synced outstanding data is also used to populate: - Aging Buckets: Helps categorize overdue balances by how long they’ve been outstanding. - Auto Collection Rules: Ensures the correct balances are targeted for automated payment reminders or collections. Benefits of Synced Outstanding Data 1. Accurate Financial Tracking: - Automatically pulls data from your EHR/PMS to eliminate manual updates and ensure consistency. 2. Customizable Sync Frequency: - Adjust sync intervals to meet the specific needs of your practice for more frequent updates. 3. Flexible Balance Management: - Allows manual adjustments to resolve discrepancies or address changes in patient or insurance responsibilities. How to Request Sync Changes If you need to increase sync frequency or encounter any issues with the outstanding data: - Contact Support: - Reach out to your account manager or use our real-time chat support. - Custom Configuration: - Our team can configure sync settings tailored to your practice’s requirements. By syncing outstanding data directly from your EHR/PMS system and providing tools for manual adjustments, we ensure your balances remain accurate and actionable. For any questions or additional support, don’t hesitate to reach out!

How to Edit Outstanding Balance Data

Steps to Edit 1. Click the "Edit" Button: - In the Financial Details section, click the Edit button located in the top-right corner. 2. Update the Values: - Adjust the Patient Portion (out-of-pocket responsibility) or the Insurance Estimate (expected insurance payment) fields. - If you want the updates to override integration data, toggle Ignore Integration Sync on. 3. Save Changes: - Click the Update button to save the changes. - The updated values will immediately reflect in the account's financial data. Use Cases for Manual Edits - Discrepancy Resolution: - Adjust balances when discrepancies arise between synced data and actual amounts. - Overriding Integration Data: - If an integration sync is incorrect, you can manually override it by enabling the Ignore Integration Sync toggle. - Custom Adjustments: - Update balances to reflect adjustments not captured by the synced data, such as manual corrections or specific business rules. Impact of Edits 1. Updated Data Across the Platform: - Changes made to the Patient Portion or Insurance Estimate will update all relevant views and reports. 2. Auto Collection: - Adjustments to the Patient Portion directly influence Auto Collection rules, ensuring the correct amount is targeted for collection. 3. Accurate Financial Tracking: - Keeping the financial details up to date ensures precise financial reporting and collection activity. By allowing manual edits to the outstanding balance, the Account Detail Page ensures you have full control over the financial data for your accounts. For questions or further support, contact your account manager or use the real-time chat support feature.