Collection Payments

Collection Payments


Collection Agency Setup

The Collection Agency should be set up in the Insurance Library. Learn more: Pre-Collection/Collections.


Post a Collection Agency Payment 

Create one receipt for the Collection Agency Payment. Even if it contains multiple Patients, you will post against this Receipt just as you would a Manual Insurance Payment Posting.

  1. ***If you received and posted in-office Payments for Encounters that are in Collections, you must post the Collection Agency Fee for those (negative) Payments first before posting the rest of the Receipt. See Post the Additional Collection Fees First.


  1. From Payments on the Left Side Menu, choose Post Payment.



  1. Create a Receipt as an Insurance Payment.
  2. Enter the Received Date.
  3. Insurance: Choose the Collection Agency.
  4. Received: Enter the Amount of the Collection Agency Payment.
  5. Select Manually Post.
  6. Select Save [F2].

 


Post Patient Collection Payments Received in the Office


When you receive a Patient Payment in the office on a balance that has already been sent to Collections, the recommended best practice is to sign the check over to the Collection Agency instead of posting it.

If you want to post the Payment instead of sending it to the Collection Agency, follow the steps below.


  1.  Create a Patient Payment receipt.



  1. In the Posting Method panel on the Post Patient & Collections Payments screen, choose Services with Collections Balance Only in the Show dropdown list.
  2. Check the appropriate boxes.
  3. Select Save [F2].



Collection Agency Fee for Patient Collection Payments

The Collection Agency will take their fee on Payments that Patients paid in the office after the Encounter was placed in Collections. On the check that you receive from the Collection Agency, those fees will be taken from the Payment. Follow these steps for posting the Collection Agency check.

 

Post the Additional Collection Fees First

For the Patient Payments paid in the office on Collection Balances, the Collection Agency Fees need to be posted before any Collection Agency Payments are posted. These fees will appear as negative Payments.

 

  1. Create the Receipt for the Collection Agency's check amount.

  2. Choose Do not Post before Saving the screen.

  3. Select Save [F2].

  1. Select the Post button.

  1. Enter the Encounter # (e1234) or lookup the Patient and select the Encounter.

  2. Select the Collection Agency.

  3. Paid: Enter the Collection Agency commission amount as a negative number (-4.99).

  4. Fee: Enter the Collection Agency Fee Amount as a positive number (4.99).

  5. Select Save [F2]

 

This will increase the Escrow amount so the remaining Collections Payments can be posted.  The Collection Fee is posted as a COLF adjustment, and the negative amount in the Paid column posts as an IPC.



Transaction Codes for Posting Collections

  • IPC: Insurance Payment Collections
  • PPC: Patient Payment Collections
  • COLF: Collections Fee Adjustment


Collections Reports

Collection Payments Report

  1. Use this report to reconcile your Collection Payments
  2. It can be run by Totals or Details


Pre-Collection Report

  1. This is a list of Encounters in Pre-Collections with Days in Collections and Patient Balances.
  2. You can choose to run by a Provider and/or Facility using the Filters.
    1. The Provider and Facility are not listed on the Report.

Pre-Collection/Collection Report

  1. Type: Pre-collection or In Collection Report
  2. This gives Totals by Provider and/or Facility.


Other Reports where Pre-Collection/Collections can be Included

  1. Custom Encounter Query: Select In Pre-Collections under Encounter
  2. Payments and Adjustments Report: Collections dropdown menu: Include, Exclude, Only
  3. Query by Form: Include Collections checkbox
  4. Receipt Management Report: Include Collections checkbox.
  5. Practice Analysis Report: Include Collections checkbox.

Learn More

  1. Collections/Pre-Collections Overview

  2. Add a Collection Agency

  3. Pre-Collections

  4. Place an Encounter in Collections

  5. Create a Spreadsheet to Upload to a Collection Agency

  6. Remove an Encounter from Collections



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