Colleton will provide weekly and monthly reports to our clients in order to work with the client to maximize revenues.
Reports will detail each call that has been processed during the period. Each report is broken down by the payer and will list Medicare, Medicaid, each insurance company and private pay clients. Totals for the period will be reflected showing amounts billed, amounts collected, allowable and deductibles and remaining balances.
Colleton will provide a list of all deposits and electronic transfers to the county in order to reconcile payments and verify receipt of all monies. Weekly reports are sent to advise the county of money received during the week, pending amounts in the process and to allow the county to plan based on upcoming revenues.
Colleton Software makes information available to our clients as needed and required by the client. Our staff will supply weekly and monthly reports for review, evaluation and to verify revenues. All reports are available in Microsoft Excel and/or PDF format.
Colleton Software also provides weekly reports for calls in process, call that require documentation and calls that have been successfully submitted.
Daily reports will include the following provided to Bertie County
- a) Revenue report showing all transports billed. The report includes the date of service, incident number, patient name, origin, destination, procedure code, and gross charges.
- b) Report showing transports that cannot be billed including the reason the transport cannot be billed.
- c) Report showing the number and amount of claims filed with Medicare and Medicaid, including the confirmation information from Medicare or Medicaid acknowledging receipt of the claim.
- d) Reconciliation report showing the amount of cash receipts posted and how the amount ties to the daily bank deposit. Provide an explanation of any cash that is unable to be posted and include the reason.
Monthly reports will include the following:
- a) A monthly revenue report showing all transports billed. The report includes the date of service, incident number, patient name, origin, destination, procedure code, and gross charges.
- b) A monthly outstanding aged accounts receivable report sorted by payer including a total outstanding aged report. The Report should show four categories of outstanding accounts: 30, 60, 90, and more than 120 days outstanding. The report would also show the last date of activity on the account. The report should break down the categories into the current financial class of the account (where the next dollar payment is expected from).
- c) Monthly accounting period report for the cash collected each month.
- d) Monthly listing of all refunds processed for the month.
- e) Monthly report of all accounts sent to the collection agency or Debt Set-Off agency as applicable.
- f) Monthly report of all account denials broken down by payer and then by type of denial.
- g) A report of all claims denied by Medicare and Medicaid.
- h) Other reports on an as-needed basis that would be useful to the agency in monitoring and evaluating the agency’s EMS service and/or accounts receivable process.
Colleton Software’s services include the ability to produce over 300 different reports that can be used by the client to evaluate the service. Colleton Software has developed a series of a matrix that can be used to verify that the client is collecting within the industry standards and at the top levels.
Colleton will continually evaluate and work the account receivable. We dedicate 1 day each week to work the pending and incomplete call log and to work on any denials. This process allows us to maximize each and every possible revenue opportunity.