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Accounts Receivable

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The module is required to provide and manage the charges, the aged unpaid invoices, the credit facilities and limits, the guarantors accounts, and their various splits
Accounts Receivable module should take into consideration Customers as :
Patients , Employees , Business , Education , or Government Institutions , Insurance Companies and other Guarantors.

The following has been extracted from a recent RFP. I've included it here for your reference. It may prove useful for anyone preparing such a document.
Please feel free to comment on this list, and propose any items that you think should have been included in this list. 

Accounts Receivable

The module is required to provide and manage the charges, the aged unpaid invoices, the credit facilities and limits, the guarantors accounts, and their various splits
Accounts Receivable module should take into consideration Customers as :
Patients , Employees , Business , Education , or Government Institutions , Insurance Companies and other Guarantors

>>> General
1   Ability to maintain comprehensive customer information
2   Ability to receive and maintain items from Billing module , as well as items entered directly.
3   Ability to Streamline payment application with cash application
4   Ability to manage draft creation and remittance
5   Ability to Update worklists for credit managers
6   Ability to use customer profiles and inquiry to track credit issues
7   Allow for online account inquiry with a real-time update of customer demographic information
8   Provide for account follow-up and management reports on demand
9   Provide for uniform access to all accounts: inpatient and outpatient, unbilled, accounts receivable, and bad debts
10   Provide for complete account details and history for all account statuses
11   Possibility to view /print all changes, payments, adjustments, refunds, and late charges for an account based on transaction type selected
12   Ability to list all input transactions on audit trails
13   Ability to provide for closed item reporting
14   Ability to allow closing of open items by selecting equal debits and credits from the customer account
15   Ability to reinstate closed items
16   Ability to have once cheque split into multiple payments
17   Ability to support the application of partial payments to specific statements
18   Ability to allow for user defined automatic cash application algorithms , and possibility to re-sequence
19   Ability to have automatic cash application algorithms defined to select open item based on summarized open item selection criteria: a) by total balance b) by combinations of aging categories c) by period
20   Ability to provide a facility to automatically apply payments to an open item and report the results
21   Ability to have payment amounts which do not match open item amounts applied as cash on account
22   Ability to have cash placed on account by automatic cash application
23   Ability to generate cash receipts
24   Ability to have user defined automatic write-off tolerance level ( ex: by amount or percent of payment )
25   Ability to have users create a chargeback against a specific receivable
26   Ability to write-off debits and credits ( document reason )
27   Ability to write-off individual open items to bad debt
28   Ability to have write-off reversed
29   Automatically generate reminder letter for overdue invoices.

>>> Maintaining Customer Information
30   Customer types
31   Customer number and name
32   Bill-to address
33   Contact name, phone
34   Default currency
35   Credit terms: credit limit and payment period, effective dates
36   Payments: cheque number, date, invoice number, discounts, accounts charged
37   Free text format
38   Ability to assign customer identifiers automatically
39   Ability to maintain customer information interactively online
40   Ability to transfer customer information from Human Resources and Patient Data Base
41   Ability to maintain multiple levels of customer relationships, with their own credit profiles
42   Ability to maintain unlimited addresses and contacts
43   Ability to user define payment terms
44   Ability to set up classification codes , including customer type and risk class
45   Ability to set up credit analysts and collectors
46   Ability to maintain complete history of customer dispute status, credit hold, and collection status
47   Ability to drill down to variety of customer information for items inquiry
48   Provide for automatic purge of inactive customers per user-defined criteria
49   Ability to identify an account by patient name , number, unit number, or guarantor’s number
50   Ability to edit demographic data , inquire on the billing and collection history, reproduce bills and claims, add comments, reminders, and letters
51   Ability to display accounts from most recent to oldest

>>> Updating Customer Information / Tracking and Write-off
52   Track and report charges entered for inactive account numbers
53   Assign unique transaction number to all charges for audit trail purposes
54   Support entry of individual messages to print on selected patient’s statement
55   Support automatic small balance write-offs by user-defined parameters for each insurance
56   Print list of accounts with credit balances for supervisor review
57   Cross check credit balance accounts to patient’s other open ( or bad debt ) accounts
58   Process patient refunds online with interface to accounts payable for printing refund checks
59   Support payment contracts and calculate payment schedules for private pay patients
60   Allow automatic write-off of bad debt accounts by user-defined parameters
61   Print audit report of account write-offs
62   Show accounts flagged for bad debt in active A/R records

>>> Receiving Items and Deposits
63   Ability to receive items automatically from Payroll Module or reverse
64   Ability to enter items interactively
65   Ability to receive items automatically from Billing Module
66   Ability to enter items in total or by line item
67   Ability to correct billing interface errors online
68   Ability to enter payments manually or use an EDI interface where legal legislation allows it
69   Support multiple banking destinations for transfer of payments
70   Ability to receive deposits from a cash control account

>>> Item Maintenance
71   Ability to process any kind of item : invoices, debit memos, credit memos
72   Ability to view detailed invoice content in Billing Module
73   Ability to distribute line items to General Ledger
74   Ability to perform matches , transfers and other maintenance functions
75   Ability to automatically match debits and credits
76   Ability to define unlimited entry types and reason codes
77   Ability to define payment terms to calculate due dates
78   Ability to flag disputed items
79   Ability to archive closed items as needed

>>> Cash/payment Application, Receipts Processing
80   Ability to identify, apply, and post payments online or through batch processing
81   Ability to base item selection on any information maintained about items
82   Ability to identify customers by name , identifiers , or any other reference
83   Ability to apply payments to more than one customer, among business units, without dividing or splitting the payment
84   Ability to process cash through automatic payment application based on user-defined methods
85   Ability to create multiple deductions per payment, with user-defined entry type and reason code, for analysis and tracking
86   Supply item identifier for a new item created by a deduction as desired
87   Ability to establish prepayments based on item identifiers
88   Ability to Write off receivables using user defined control options
89   Ability to create partial items payments or deductions when payment is less than item amount
90   Ability to maintain complete history of all activity by item
91   Ability to Write off small remaining balances based on user defined tolerances
92   Ability to enter and apply payments in any currency to items in any currency
93   Support online cash receipts posting with immediate update to accounts
94   Ability to validate online cash receipt entry for valid patient account numbers
95   Ability to display online warning if cash receipt entry will create a credit balance on patient account
96   Allow distribution of single payments among multiple accounts
97   Print or display list of account activity on demand
98   Support batch entry and posting of payments with batch control totals

>>> Analyzing Customer Credit
99   Ability to generate worklists- personalized , online lists of follow-up customers- according to user defined credit conditions
100   Ability to suppress various recurring conditions from displaying on worklists
101   Ability to keep track of customers that need follow-up attention, and set review dates
102   Ability to dial customers automatically from item inquiry panels
103   Ability to record and track conversations with contacts and customers
104   Ability to examine customer history, aging, and activity through inquiries and profiles
105   Store history and aging data for divisions within customers
106   Display all the open items for a customer, and drill down to view detail on a single item
107   Ability to prepare finance charge invoices
108   Ability to define user rules to control unlimited levels of dunning letter creation, and exclude items as desired
109   Establish user defined correspondence text and formats
110   Allow transfer of accounts from accounts receivable to bad debts
111   Allow reinstatement of zero accounts, retrieving all customer information in history file

>>> Journal Voucher Processing
112   Prohibit posting of payment batchs that are out of balance
113   Print detail cash and adjustment journal showing detailed receipts and adjustments
114   Print summary cash and adjustment journal showing total of receipts and adjustments by payor
115   Provide reference to returns/ allowances to support credit memos
116   Provide for advance recording of receivables
117   Capability to Chargeback
118   Provide for multiple General Ledger account distributions per memo
119   Capability to reverse payments ( bad cheques/errors )

>>> Accounts Receivable Ledger Posting
120   Allow posting payments and adjustments up to 15 digits of monetary value
121   Provide for General Ledger posting in detail or summary at user option
122   Provide for daily summarization and update of individual General Ledger accounts
123   Provide for Correction of prior period/ year transactions
124   Support Contra accounts – offsetting billings with Accounts Payable
125   Support user specified General Ledger account overrides
126   Provide for Daily fiscal journals
127   Provide for Accounts Receivable transactions and controls
128   Provide for transaction listing and totals report

>>> Queries
129   Online access to customer accounting detail
130   Provide ability to page forward and backward when viewing account detail online
131   Display account status showing balance, charges, payments, and adjustments
132   Provide direct search and access to account transactions by date, without having to scroll through screens of transactions
133   Support online search for patient accounts by last name
134   Support online search for patient accounts by phonetic ( soundex) last name search
135   Support online search for patient accounts by account number
136   Support online search for patient accounts by guarantor name
137   Maintain and allow inquiry into a bad debt history file
138   Inquire about specific deposits, payments, customers, and payments for vendors
139   View automatic cash application exceptions and errors
140   Online inquiry for summary of delinquent account
141   Online inquiry for delinquent account
142   Minimum balance inquiry
143   Credit balance account inquiry

>>> Reports
144   Automatically print account statements at user-defined periods
145   Print daily and monthly days in A/R report including totals by financial class, inpatient, and outpatient
146   Provide ability to print A/R reports with user-defined report parameters ( ex: sort order, selected data , etc..)
147   Print standard payment agreement form for patient’s or guarantor’s signature
148   Print bills based on terms of payment contracts
149   Print monthly report of accounts transferred to bad debt by financial class
150   Period-end aged accounts receivable analysis report
151   Prepare customer statements, finance charge invoices, dunning letters, and follow-up letters
152   Accounts receivable collection analysis reports
153   Minimum balance listing
154   Credit balance account listing
155   Accounts receivable analysis
156   Total aging
157   Account receivable self-pay analysis
158   Inpatient self-pay analysis
159   Outpatient self-pay analysis
160   Accounts receivable status report
161   Dunning statements:- Number of statement selection parameters ( cycle length )
162   Dunning statements:- Allowance for contract billing
163   Dunning statements:- Availability of data mailers
164   Dunning statements:- Statements produced on request ( daily , weekly ,..)
165   Dunning statements:- Statements include next payment date
166   Dunning statements:- New accounts receivable from billing report by : financial class , and other
167   Dunning statements:- New accounts receivable from transaction input report present by : financial class, other
168   Dunning statements:- Deleted accounts receivable report by : zero balance, administrative write-off
169   Dunning statements:- Changed account receivable report
170   Dunning statements:- Cash receipts and adjustments report
171   Dunning statements:- Contractual allowances report: summary by transaction, detail by patient

>>> Control Reports
172   Batch controls ( comparison of batch header or trailer record totals with machine accumulated totals)
173   Validation reject report
174   Posting reject report
175   File balancing controls ( control record for each file )
176   Log of valid and posted transactions
177   Print zero account audit report
178   Accounts receivable update exception ( error ) report
179   Statement exception ( error ) report
180   Cash receipts and adjustments report
181   Diagnosis delinquency report
182   Self-mailing statements

>>> Aged Trial Balance ( ATB)
183   Print aged trial balance with account number, name, dates of service and last statement, payor code, and balance
184   ATB should include number of statements, last payment date and amount, current credits and payments, billed-to insurance date
185   Print separate ATB for inpatient and outpatient
186   Print ATB in alpha order of patient last name
187   Print ATB in descending order of account balance
188   Print ATB by financial class
189   Print ATB by bill date
190   Print ATB by guarantor
191   Print ATB of accounts over certain age
192   Print ATB summary with up to nine aging categories, showing amounts, percentages, and number of accounts
193   Compare aging trial balance in summary or at the detail level
194   User definable aging
195   Aging by activity date, due date, effective date
196   Dispute items aged as current
197   Ability to have aging buckets defined
198   Ability to have the number of aging buckets = 7
199   Guarantor aged trial balance
200   Doctor aged trial balance

>>> Archive
201   Support archival of all reports to microfiche, tape, optical disk or other media
202   Ability to delete accounts that have not have any activity
203   Ability to flag customers for deletion ( or deactivate or reinstate)
204   Maintain zero accounts history for Hospital defined time period

>>> Integration
205   Order Management system
206   Billing
207   General Ledger
208   Accounts Payable
209   Payroll

Last Updated ( Tuesday, 28 October 2008 01:10 )  

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