Auto-Apply Interest on ERAs

Auto-Apply Interest on ERAs

Release v4.8

Interest can be Auto-Applied on ERAs. The Transaction Codes for Interest are:

  • IIP: Insurance Interest Payment Credit
  • IID: Insurance Interest Payment Debit


Encounter Level

  • If the Interest is reported on the Encounter level, it will post to the first Line Item on the Claim.
  • Set up System Setting > Payments > INTERESTAUTOAPPLY > Yes


Claim Level

  • If the Interest is not reported at the Encounter level, it will be posted in one of two ways based on the System Setting selected.


Post to First Line of the First Encounter on ERA

  • Enter the word, First, in the System Setting > Payments > INTERESTSLUSHFUND > Enter First.


Post to Slush/Interest Fund

  • Set up a "dummy" patient as, Slush Fund or Interest Fund.
  • Create an Encounter on the Slush/Interest Fund patient.
  • System Setting: Payments > INTERESTSLUSHFUND > Enter the Encounter ID of the Slush Fund.






    • Related Articles

    • Post/Apply an ERA

      Reference Batch Received Date By default, the Received Date is populated by the Paid Date on the ERA File. If you want the Received Date to be a different Date, there is a System Setting to allow the entry of a Received Date on the Reference Batch ...

    • Manually Post Interest or Penalty

      Manually Post your Interest Payment or Penalty to the newly created Encounter, and use this same Encounter for future Interest/Penalty Payment from this Insurance. Create a Receipt for the Interest or Penalty Manually posted Payments create a Receipt ...

    • Setup for Manually Posting Interest and Penalty

      Set up an Interest Adjustment Transaction Code Create a custom Transaction Code to adjust the Interest/Penalty off the current A/R depending on your accounting practices. An alternative is to enter a Charge for the same amount as the Interest, but ...

    • Auto-Post

      Auto-Post Auto-Post applies the payment from the oldest Encounters to the newest with a Patient balance and resets the dunning message count according to the Payment Rules setup in Statement Profiles. Auto-Post is only available on Patient and ...

    • ERA Management Profiles, Rules, and CARC Crosswalk

      The System-delivered ERA Management Profile includes 22 Rules for ERA Payment posting. Additional ERA Profiles must be created to add new Rules based on the Insurance or Billing Group. Events override any Rules that are created. ERA Profiles Add a ...