Monthly Financial Tasks

Estimated read time: 5 mins

Aging 

  • View your outstanding Accounts Receivable by Responsible Party, Patient, Office and Insurance using the Aging Module. 
  • Organizes account balances by aging bucket and can be easily sorted to identify the largest and oldest AR balances in each location. 
  • Use the breakdown button in the Responsible Party list to view a breakdown snapshot of AR for the guarantor on the account. 
  • When using the Office view, easily view multiple locations and compare overall aging balances as well as how much is patient responsibility vs. uncollected insurance.

Financials 

  • The Financials module provides practice-level financial trends as well as the ability to compare key financial metrics across all locations. 
  • Use the filter options to see production, collections, and adjustments for a particular provider, procedure code or line of business. 
  • In the Scorecard view, you can see Production and Collection information by count and total $ value, that can be filtered by entity and individual providers. 
  • Use the interactive donut graphs to obtain exact value amounts for each contributor then scroll down to view line item detailed information on a provider level.

Waterfall 

  • The Waterfall module allows Monthly Collections to be compared to the month the production occurred, providing a more accurate view of collections forecasting. 
  • The best way to analyze your collections compared to your production. 
  • The waterfall module shows the amount of production and how much of those dollars are then collected to give you a true collections rate month-over-month for the next 24 months. 
  • Currently, this module is not supported with Dentrix Core, Dentrix Ascend?, or Cloud 9 practice management systems. 

Operations>Payors 

  • Operations > Payors lays the data out for quick and easy analysis of which payors are bringing the most (or least) to your practice. 
  • View key metrics that pertain to each payor such as Gross/Net Production, Adjustments, and New Patient visits. 
  • Compare today’s values to last year by clicking through the tabs in this view.