Performing Financial Functions
Use the Financial Estimator Setup tool to view an interactive display of fee presentation and contract information. Enter financial data and use slider controls to instantly update contract details. Present contract proposals to responsible parties to help increase same day starts and signed contracts.
To access Financial Estimator Setup:
From the patient chart, click the Financial Functions button. The Financial Functions window is displayed.
Click the Financial Estimator Setup button. The Financial Estimator Setup window is displayed.
Select options from the following sections:
Responsible PartyResponsible Party
This section displays responsible party information as assigned in the Patient Information section of the chart. Although the Financial Estimator Setup window only includes fields for RP1 and RP2, you can select any responsible party that is associated with the account.
Select options from the following fields:
Use this drop-down list to select a responsible party for the contract payments.
Use this drop-down list to select a second responsible party for the contract payments. If the account has multiple responsible parties, but only one will make payments on the contract, select None. If the account only has one responsible party assigned, this field is inaccessible.
Maximum Finance Duration (Months)Maximum Finance Duration (Months)
Use this drop-down list to select how many months the contract will last.
Select the following field:
Use this field to enter or update the entire amount due for the contract. This field is required.
This section displays discounts that can be applied to the total amount. You can rename these discounts as appropriate for your practice. For more information, see Renaming a Category or Transaction.
Select options from the following fields:
Courtesy DiscountCourtesy Discount
Use this field to enter or update a discount approved for this contract.
Professional DiscountProfessional Discount
Use this field to enter or update a discount approved for this contract.
Use this field to enter or update a discount approved for this contract.
User-Defined DiscountUser-Defined Discount
Use this field to enter or update a discount approved for this contract.
Insurance CoverageInsurance Coverage
This section displays insurance information that is associated with RP1 and, optionally, RP2, as assigned in the Patient Information section of the chart.
Select options from the following fields:
Use this field to enter or update the amount that the
insurance associated with RP1 will pay on the contract.
Use this field to enter or update the amount that the insurance associated with RP2 will pay on the contract. If the account only has one responsible party assigned, this field is not displayed.
After selecting options in these sections, the amount for the Patient's Total Responsibility is displayed. This amount updates dynamically when changes are made to other financial fields in this window.
Select options from the following fields:
This field displays the total amount that the responsible
party selected as RP1 will pay. You can type a new amount
in this field to update the total.
Existing BalanceExisting Balance
If a balance is present on the account, this field displays
the current amount for which RP1 is responsible. You can
type a new amount in this field to update the balance.
If you attempt to increase the existing balance, a message
is displayed, indicating that the amount entered should
be less than the existing balance.
Preferred Down PaymentPreferred Down Payment
This field displays the amount that the responsible
party selected as RP1 has agreed to as a down payment
on the total. You can type a new amount in this field
to update the down payment.
Minimum Down PaymentMinimum Down Payment
This field displays the minimum amount that the responsible
party selected as RP1 must submit as a down payment on
the total. You can type a new amount in this field to
update the down payment.
This field displays the total amount that the responsible
party selected as RP2 will pay. You can type a new amount
in this field to update the total.
If the account only
has one responsible party, this field is not visible.
Existing BalanceExisting Balance
If a balance is present on the account, this field displays
the current amount for which RP2 is responsible. You can
type a new amount in this field to update the balance.
If you attempt to increase the existing balance, a message
is displayed, indicating that the amount entered should
be less than the existing balance.
If the account only
has one responsible party, this field is not visible.
Preferred Down PaymentPreferred Down Payment
This field displays the amount that the responsible
party selected as RP2 has agreed to as a down payment
on the total. You can type a new amount in this field
to update the down payment.
If the account only
has one responsible party, this field is not visible.
Minimum Down PaymentMinimum Down Payment
This field displays the minimum amount that the responsible party selected as RP2 must submit as a down payment on the total. You can type a new amount in this field to update the down payment.
If the account only
has one responsible party, this field is not visible.
You can select one of the following:
Click Cancel to exit the Financial
Estimator Setup window without retaining changes.
Click Reset to restore the default
amounts for the account to the Financial Estimator window.
Click Save to confirm the information
and exit the Financial Estimator Setup window.
-OR-
To visualize and adjust financial details, click Financial Estimator. The Financial Estimator window for the selected responsible party is displayed.
Use the sliders to adjust the following:
The top of the Down Payment slider displays the total payment
due from the selected responsible party. The slider adjusts preferred
down payment amount. The minimum down payment required is displayed
at the bottom of the slider. Use the slider to update this value.
Monthly PaymentMonthly Payment
The top of the Monthly Payment slider displays the total amount
due minus the initial down payment. The slider adjusts what the
responsible party needs to remit each month to pay off the remaining
balance. The minimum amount necessary is displayed at the bottom
of the slider. Use the slider to update this value.
The top of the # of Months slider displays the length of the contract. The slider adjusts the number of months it will take to pay off the remaining balance. The minimum length of time needed is displayed at the bottom of the slider. Use the slider to update this value.
Each responsible party can
have a different contract length for remitting payment.
Verify that the following amounts are correct:
To select the day that payments are due, click the Payments due on day of the month drop-down list.
After confirming the amounts, select one of the following:
Click Print. The Print Options window is displayed.
Select Print to send the Financial Estimator information to the printer.
Select E-mail
to send the Financial Estimator information to an e-mail address
associated with the account.
Click OK to confirm the selected action, or Cancel to end the action and close the Print Options window.
Click Cancel to close the Financial Estimator RP window.
Click Save to store the contract information. The Financial Estimator Accepted Amounts window is displayed.
Click the X button to close the window.
-OR-
Click Print. The Print Options window is displayed.
Select Print to send the Financial Estimator information to the printer.
Select E-mail to send the Financial Estimator information to an e-mail address associated with the account.
Click OK to confirm the selected action, or Cancel to end the action and close the Print Options window.
After saving the information, the Contracts and Payment Plans view of the Financial Functions window is displayed. To view the Financial Estimator Accepted Amounts window, click the check icon in the contract section.
Configuring Financial Estimator Setup
Performing Financial Functions