Setting up Payment Terms

Payment Terms may be set up on an account any time the hospital and the guarantor agree to do so.

To set up payment terms, enter the patient’s account number on the Hospital Base Menu or the Master Selection screen to advance to the Patient Functions screen. From the Patient Functions screen, select Payment Terms.

Any schedule may be agreed upon when terms are set up (weekly, monthly, etc.), but the system considers all payments within a 28-day billing cycle when reporting if the account is behind or current on payment terms.

Select Web Client > System Menu > Hospital Base Menu > Patient Visit # > Patient Terms

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Accounts Receivable - Patient Terms

•Terms Start Date: The date the account is placed on payment terms.

•Terms Code: This is a facility-defined payment code (M for monthly, W for weekly, etc.) This code is informational and does not affect the statement process. It is used for reporting purposes only.

•Payment Amount: The total amount of payment expected within the 28-day billing cycle (example: if an agreement is made for payments of $10 a week, the amount entered here should be $40).

•Remove Collect Code: Select this option to remove the Collect Code from the Guarantor/Ins tab on the Registration and ADT screen when setting up a patient on terms. This allows the Collect Code to be removed at the time a patient is setup on payment terms, instead of manually removing the code after terms are initiated.

Select Save once all information has been entered.

Once an account is set up for payment terms, it will not age unless Age Term Patients, in the A/R Collections Table is set to Y. To end the terms and resume account aging, remove the Terms Start Date. The system will prompt, "Remove Patient Terms?" Select Yes to end the terms. Select No to have the patient remain set up on terms.

NOTE: The Minimum Payment Analysis report is the most efficient way to keep track of payment terms accounts. It should be printed weekly for the appropriate billing cycle.