Calculate Finance Charges

Use the Calculate Finance Charges routine to calculate and assess finance charge interest on delinquent amounts for the appropriate private patient accounts.

Notes:

• All patient accounts with Allowed Dunning set to Yes are considered for finance charges.

• Generally, you will calculate finance charges before you print patient statements.  For information on the timing and billing cycle tasks, see the Billing Overview.

• Finance charge rates are maintained during Finance Charge Maintenance.

• Below are some reasons why finance charges are not calculated for a patient's overdue balance:

• You did not select Include All Patient Responsible Charges

• The Patient Allowed Dunning is set to No

• The ticket's Journal Printed setting is not set to Printed

• The ticket has never been billed and it does not have a Bill Date

• The ticket is not old enough to qualify for the billing run

• The ticket has a zero balance

• The Insurance Accept Assignment flag is not set to No

• The Insurance Responsibility flag is not set to Patient or Other

• For more information about the buttons on the toolbar, see the Reporting Toolbar.

Directions:

To see directions for...

• Opening the Calculate Finance Charges Routine, Click More.

   

  1.  Click Billing Functions from the Menu Bar.

  2.  Click Calculate Finance Charges.
  
  Or, use the keyboard shortcut:  [ALT] [b] [c].

   

  Calculate Finance Charges Window Example:

  

   

• Choosing the routine selections, Click More.

   

  Calculate Finance Charges Prompts Tip:  To see more information about a field, click the hyperlink for the field name.
  Billing Workfile Has Been Built	If the Billing Workfile has been built, click to select the box. If the Billing Workfile has not been built, click Cancel to stop and close this window. Note:  You must build the Billing Workfile before proceeding with the Calculate Finance Charges routine.
  Include ALL Patient Responsible Charges	To include all patient charges with Insurance Accept Assignment set to No, select this box. To only include patient charges with private insurance, de-select this box. Note:  For more information, see How Insurance and Accept Assignment Determine Billing.
  	Displays the default printer number.  For more information, see Printing Options.
  	To run the routine and generate the report, click Print or press [ENTER]. Keyboard shortcut:  [ALT + p]
  	To escape from the routine click Cancel. Keyboard shortcut:  [ALT + c] Note:  Or, click Close .

   

• Report Sample(s), Click More.

   

  To see an example of the report, click Calculate Finance Charges Report Sample.