by Professional Practice Systems, Inc.

Billing statements are printed for accounts with balances due. Finance charges are automatically calculated and added to the bill on the second and subsequent statements. Statements are usually sent to private patients 15 days after the feeslip entries are made and to patients with insurance coverage after 40 days. These statement delays are variables which are set by you according to your individual preference.

Billing statements are usually generated weekly, spreading out your work flow and speeding up your cash flow. OPTO will automatically figure out who needs a bill that week.

Patients billed to a participating plan such as Medicare or VSP (which pays you directly) are kept on a separate account. Patients will receive a bill only for the amounts they are responsible for.

Accounts Receivable Aging Report

A weekly accounts receivable aging report is produced showing all of the open accounts along with information needed for a credit manager to contact overdue accounts for payment arrangements. This report separates out all of the overdue accounts automatically and is much more efficient than sorting through a stack of ledger cards.

Enough financial information is kept on each family to replace paper ledger cards, converting payment information to a credit rating based on how fast the account was paid off.

A current listing of what is owed by each participating plan is also a part of this report.

Daily Reports

Deposit slips and daysheets are completed and totaled at the end of each day to provide an audit trail of all of your transactions. This gives you a day to day report of how your production is progressing.

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