Receivables Activity – securing your office (version 10.3.43)

The Receivables Activity report gives you a snap shot of your current receivables – basically, how much money is outstanding at any given point in time. Invoices increase your receivables, and payments and adjustments decrease your receivables.

When you backdate an invoice, payment, or adjustment, you are actually affecting the receivables for that date in the past. Many security issues are related to staff being able to pre-date payments or adjustments far enough in the past to make them invisible to the practice owners.

In an effort to clean up your receivables and secure your practice, KIP is now limited to how far back you can date an invoice, payment, or adjustment. The default maximum number of days KIP allows is 45. This number is not modifiable by the end user at any password level.

What this means is, you must enter all your invoices into KIP within 45 days of when the patient was treated, and you must enter all payments into KIP within 45 days of when the money was deposited into the bank.

As you can see, these dates are quite reasonable, since many insurance companies now require that all claims be submitted within 90 days of the date of service.

By instituting these parameters, we have already uncovered improper accounting practices in several facilities. The offices are now more secure from payment tampering, and receivables numbers are now accurate and reliable.

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We are Knowledge is Power, Inc. (also known as KIP). Knowledge is Power, Inc. was first formed in 1989. We were one of the first to bring the price of power computing within reason. Over the years, we have learned a lot about your business, and your needs. We applied this knowledge to make the best system even better. The result: today’s KIP MediWeb™ is more than just an efficient way to move claims. It’s a solution so powerful that it will forever change your view of computing.


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