Manage Your Cash Flow Like A Pro!

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1 Manage Your Cash Flow Like A Pro! An in-depth review of features associated with payments, workflow and reconciliation Kristina Cochran Brightree

2 Show me the money! Have cashflow issues? Does your AR look like something out of a scary movie? Is there a breakdown in reimbursements?

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4 Cause Held AR Unconfirmed Sales Orders Price table not current Invoices with a balance-open Denials don t get worked ERL Management follow-up Effect Claims not being billed Revenue is not booked or billed Correct Charges not billed Secondary/Patient invoices won t bill Timely filing- Write-off-lose revenue Claims never reach payer for payment

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6 What can you do? Manage Price Tables Setup Manual Hold Reasons for tracking held AR Utilize WIP States on Sales Orders to track workflow and bottlenecks Run/Schedule Reports Utilize Revenue Cycle to track Activities such as Denials, Patient Collections, Timely Filing Print paper claims-primary or Secondary Work rejections and denials quickly Post payments accurately and timely in order to bill subsequent invoices for additional collections Print Statements for patient balances Apply Unapplied balances in order to reduce AR

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8 Some things to think about. Where can funds come from? What are my requirements for copying, scanning or retention of the original EOBs? What information will be required for deposits in Brightree to establish consistency? How will I post Patient Payments? What are Payments on Account? What are Unapplied Payments? Which reports will I need to run daily/weekly to track posted/unposted money? Where do I create payment reasons? How do I adjust my ERN Settings for Allowable Adjustments?

9 Lets answer that. Funds come from a variety of places-checks, Credit Cards, EFT, Retail Payments (if applicable), POD (if applicable), POA Establish a set of guidelines for EOBs-How and where they will be stored so they are easily accessible for follow-up. Required deposit information needs to be accurate such as, Deposit Date, Payment Date will establish accurate reporting criteria Establish set guidelines on posting patient payments via Invoices, POA, or Deposits POA or Payments on Account creates a daily deposit to track and post invoice or unapplied payments

10 Lets answer that. Unapplied Payments is a way to receive payments that cannot be applied to an invoice/invoices There are several reports which we will discuss Payment Reasons can be established for tracking and reporting based on payment type Branch office ERN Settings establish specific guidelines for the Auto Posting Feature in Brightree and if setup correctly will minimize the time spent posting payments thru ERNs

11 Deposit Types

12 ERN Deposits Received automatically, a deposit and receipt are created in the amount of the check, Brightree interprets data on EOB in order to create and apply payments to invoices found in Brightree. ERNs will need review for accuracy for verification of additional adjustments in order to establish correct invoice balances.

13 Deposit Types Manual Deposits Created by the user and establish EOB information based on Deposit and Payment Dates, user creates a receipt and the user then interprets and searches for Brightree Invoices to create and apply payments to invoices found in brightree. Users will need to ensure that all adjustments are made to establish correct invoice balances.

14 Deposit Types POA Deposits System generated deposits for Cash and Cash Equivalents, Credit Cards and Other Payment Types. This is to ensure that all payments collected through the Payments on Account will be included on a deposit. These include invoice payments and unapplied payments.

15 Cash Posting Work Flow ERN No Paper EOB Create Deposits Yes Review Create Receipts Deposit Apply Edit Deposit Receipts to related Invoices Deposit and Receipts equal $ 0 Deposit contains Denials and Balance Transfers Yes No Payment Amount greater than Deposit Yes Recoupment was applied to deposit No $ 0 Balance on Deposit Yes No Payment Amount Less than Deposit Yes Remaining Deposit goes to Legacy A /R Reconcile all Unbalanced Deposits Reconcile Recoup to Invoice Verify Funds ( update system ) Post Deposit

16 Cash Posting Workflow Receive ERN Review and edit deposit Verify funds Post Cash!

17 Cash Application Steps A Closer Look-ERN Deposits ERNs are found under the AR Management menu with a search criteria of Unposted to work unposted ERN Deposits. Users can view or print the EOB by selecting the EOB hyperlink. Edit Deposit-Review Deposit tab for accuracy ERN Tab-This is where you will work your invoice balances and make any necessary adjustments. *It is important to note that if invoice balances are not $0 when posting the secondary or patient invoice will not open for billing. There are a few reasons why a balance may remain, Denials or line items were not paid on same ERN.

18 Cash Application Steps A Closer Look-Manual Deposits Manual Deposits are created by the user instead of the system. Must create the receipt. Multiple checks can be added to one deposit in the form of multiple receipts. Apply Payments, Apply Mass Payments, Add Recoupments are the options when creating manual deposits Concept is the same as ERN, reduce invoice balances to $0 unless a denial is present or a line item has not been paid on the same EOB.

19 Reports to Know Cash Activity Report: This report will provide a summary report of all deposits and receipts. Based on criteria this report will give the users a breakdown of payment reason totals for each day or given time period. Unapplied Payment Report: This report will help users track unapplied balances still remaining on patient accounts in order to apply those balances to open invoices. AR Activity Reports: This report is a very detailed report and will give the user Payment Type and Reason for payments posted during a given time period. Deposit Summary: This can be ran directly from the deposit, which is very detailed, or this can be ran as a summary report for Posted or Unposted Deposits. Billing Register: This report will also output payment information based on the claims that were billed based on date criteria.

20 Bringing It All Together Cash Posting is a vital part of managing AR. If payments are not posted correctly AR can quickly get out of control Setting specific guidelines will play a key role in ensuring posting is done correctly, timely and organized Reports play a key role in working AR and managing invoice balances Working rejections and denials quickly will ensure that reimbursements are not delayed Accountability is key. Make sure that each user that will be posting cash knows their responsibilities and are trained properly on cash posting processes Cash Flow is the bloodline-keeping up on what is happening will keep the cash coming in and keep operations running smoothly.

21 Resources Brightree Online Community Brightree Learning Center -including videos and pdf documents Lunch and Learns Brightree University Classes One on One Training

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23 Thank you