Medical Debit Adjustment
Medical offices can create their own debit adjustment codes to perform debit adjustments within your practice management software system. Debit adjustment codes can be defaulted as either a positive or negative number.
Debit Adjustment Codes including; balance forward; finance charges, interest, refunds, statement charge, and sales tax are some of the many reasons why medical offices choose to utilize the debit adjustment codes within their medical office policies.
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One of the more basic uses of the debit adjustment code is to track interest insurance payments.
Insurance carriers are required to pay interest on payments made on older claims. As these interest payments are received many offices put them in a dummy patient file to track. With interest debit adjustments you can post the payment at the same time as you post the original visit payment. This not only saves the payment poster time but it's easy to track the interest payments in reports. |
Debit Adjustment Codes allows a medical office to manipulate money received and track it multiple ways within their Practice Management Software system.
To learn more about Medical Debit Adjustment and how to use this feature please Watch our FREE Medical training video series.
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