Open Dental Webinar- Billing II: Billing/Finance and Late Charges

Learn how to set up and apply billing/finance and late charges.

Welcome to our webinar today we will be covering billing 2 finance billing and late charges in today’s webinar we will cover how to set up finance billing charges we will go over the finance and billing options we will also showed up show you how to set up late charges and go over the late charge options the billing and finance charges tool is used to apply

Finance or billing charges to accounts the charges will be applied to all guarantors that meet the filtering criteria entered we do have some required setup before we can go ahead and run our finance billing charge first required setup is to go ahead and make sure that you enable billing and finance charges feature to do this we will go ahead and go to setup

Advanced setup and show features the charge tools option is here and we are going to go ahead and enable billing finance charges radio buttons already selected there so i’ve already gone ahead and enabled them we’ll go ahead and click ok if it’s the first time you guys are enabling the other thing that we want to go ahead and make sure is that we set a billing

And finance charge adjustment type in account module preferences to create an adjustment type you’ll go to setup definitions and adjustment types you’ll click on add to give your finance or adjustment type a name i’ve named mine finance charge and then when you click on add it will also go ahead and give us either a plus or minus sign so that we can go ahead

And have the definition to be either a negative or positive adjustment i’ve already created that finance charge as you can see here it’s highlighted so i don’t need to create another we also want to go ahead and go into account module preferences so setup account here is our account module preferences and for the finance charge adjustment type i have it set

Here to finance charge we also have a billing charge adjustment type which i’ve already had created and set to billing charge so these are the options for those adjustment types we’ll go ahead and click ok because i’ve already set those up next we’ll go to tools to go over the features and options for our billing finance charges so this is our billing finance

Charges window in this window you can see that we have some options to filter through the first box here is the date last run this will go ahead and show you the last time that the tool was run date of new charges you’ll enter the date the new charges should be applied billing charge if we select the radio button for billing charge this will add a flat charge

To the account and the charge will be added to the account as an adjustment finance charges when we select the radio button for finance charges we apply a percentage charge or apr to the account balance this charge is calculated against the patient portion of the entire family it is recommended that you run it every month for an accurate apr and an adjustment

Will be added that equals one month of apr charges currently i have my apr set to 18 18 charge at least this option you’ll want to set the minimum finance charge amount so for example if i set five dollars here so if i were to enter the value of five dollars any finance charge amount from a penny to 499 will be charged as five dollars to the patient i just want

To go ahead and set it to zero only if over set the minimum amount of a calculated finance charge before apr is assessed so for example if the only if over amount is three dollars so let’s go ahead and set the value to three and the fine arts charge is less than that amount the patient is charged zero if both preferences are set the patient will be charged the

Charge at least amount but only if it is greater than the only if over amount so if i had five dollars in here and only if over three that’s how you’ll see how that works if the finance charge is greater than the charge at least amount the finance charge amount is applied and then compound interest this determines whether or not past interest adjustment charges

Are considered when calculating new interest charges check to charge interest on the total past due amount and if we leave it unchecked you’ll charge interest on the past due amount minus any past interest charges calculate and balances aged you’ll want to select the age of the accounts that should have the charge added so on my scenario we’ll only be applying

A finance charge if the account balance is over 90 days only apply to these billing types so you’ll want to go ahead and select which billing types should have the charge added for us we will go ahead and add that to all billing types that’s why they’re all selected and then we have billing finance filters here you’ll want to select options to have certain

Accounts excluded from receiving finance or billing charges so for example if we have a check box here for exclude bad addresses if the guarantor has no zip code we can exclude inactive family members so families with an inactive status we can also exclude so if this is checked it will exclude families with any insurance claims still pending ignore walk out in

Person statements this works in combination with excluding accounts not build sense setting if checked walkout statements will not be considered as being billed the exclude accounts with truth in lending check to exclude families that do not have a signed truth and lending agreement on record you can note that a patient has signed a truth and lending agreement

In the edit patient window on the other tab and for more information please see our web manual exclude if balance is less than you’ll set a balance below which families will be excluded and then exclude accounts not billed since the billing finance charges will not be applied to accounts that have not been sent a statement between the date entered and today’s

Date accounts that have been sent a statement between the date entered in today’s date will get a billing finance charge remove the date to include all accounts and here we have the assigned charges to we can go ahead and assign the charges to the patient’s primary provider or we can select the radio button to choose a specific provider for all of our billing and

Finance charges to be applied to but i’m going to leave it at the patient’s primary provider so once we are done we’ll want to go ahead and click run to process our billing or finance charges to include the accounts so finance charges have been added and it looks like it’s been added to eight accounts so we’ll go ahead and click ok so going back into tools and

The billing and finance charges now we have an undo billing finance charges so you can use the undo button to undo your most recent charge finance or billing and all adjustments made on the same date which have the same adjustment type will be deleted since we i ran the adjustments today it defaults to today’s date and it will undo all finance charges done for

Today’s date to undo finance charges for a different date you must manually go into each account and delete the individual adjustment and you can do that very easily by going to our finance charges um report which is located in standard reports in the monthly section and you’ll click on finance charges so let’s show you where that’s at here’s our monthly section

And this is the finance charge report you can go ahead and change your date range to run that report we’ll go ahead and click cancel close out of there so now we’re going to go ahead and go into late charges the late charges tool is used to apply late charge adjustments to accounts with statements that have an unpaid balance the charge amount is calculated based

On the current remaining patient portion of production items on statements sent between a set number of days the charges will post to the account of all guarantors and super family heads that meet the filtering criteria and again with late charges there are some setup requirements so one of them being we need to go into show features please keep in mind that

With the late charges and or billing finance charges you can only have one enabled so it’s either going to be the billing finance charges that the office has enabled or late charges the required setup for late charges will be back again into setup advance features and then show features this time we’ll go ahead and select the late charges radio button and click

Ok once this is enabled late charges will be available in the tools menu we’ll also want to go ahead and set the late charge adjustment type in the account module preferences and we’d already gone over how to go ahead and do that a little bit earlier so now that we’ve enabled that we’ll go into tools and we’ll go into late charges notice that now that i’ve enabled

Late charges i do not have the option for billing finance charge tool because like i said before we can only have one option enabled late charges and this is our late charges option so the date last run is the date on the previous posted late charges adjustment the date of new charges you’ll enter the date the new charges should be applied it will default to today’s

Date and then these late charge settings down here exclude accounts with truth in lending you’ll check to exclude families that do not have a signed truth and lending agreement on record and again you can find more information on that on our web manual or please see the link below exclude existing late charges check to exclude statement balances that already have

Late charges the exclude if balance is less than do not generate late charges for families that have a balance less than or equal to this set amount after insurance estimates percentage fee on amount due here we can set the percent of the late charge fee the percent applies to the current remaining balance of production items on statements that meet the late

Charge criteria set to zero or leave blank to apply a flat flea minimum charge set the minimum light charge so for example if set to five dollars so let’s go ahead and set that to five dollars any late charge amount calculated that’s from a penny to 499 will be charged at least five dollars or the minimum of five alternatively this can be used to apply a flat

Flat fee when the percentage is set to zero or left blank and the maximum charge you can set the maximum late charge amount so for example if set to 15 any late charge amount calculated as 1501 or over will be charged as 15 and then the apply to statements between set the number of days to consider late charges late charges are calculated based on the unpaid

Balances of the production items on statement sent on or between this set number of dates if a patient does not have a sent statement within this range no late charge adjustment is applied to the account so i’m going to go ahead and put my values in because i want to go ahead and at least go back from 1 to 90 days only apply to these billing types here we’re

Going to go ahead and select the billing types to apply the late charges the charge is only applied if the guarantor of the family has one of the selected types i want to go ahead and apply to these right here and then we can go ahead and save these as a default uh to save the selected lit late charge settings as a default so let’s go ahead and do that how to

Fix my little errors and now we can go ahead and save that as a default we can assign charges to the guarantor’s primary provider or we can choose a specific provider with the radio button and our drop down menu here i’m going to choose the guarantor’s primary provider and then we’ll want to go ahead and click run to apply late charges to all included accounts

Run late charges okay displays a pop-up to show how many late charges have been applied to the accounts and now you see that the tool has gone away so if we want to go ahead and go back to tools and late charges we have the undo late charges so to remove the recently charges you can click undo all adjustments made on the same date with the same late charge

Adjustment type will be deleted to undo late charges for a different date you must manually go into each account and delete the individual adjustments late charge adjustments attached to a payment or dynamic payment plan cannot be deleted with this tool when you click undo you will receive a pop-up explain explaining some late charges will not be deleted and to

View a list of patients with light charge adjustments that cannot be deleted you’ll click yes when prompted and then you’ll go to each patient on the list and manually detach the adjustment from the pace list or dynamic payment plans to delete adjustments if needed this was a brief overview of our billing finance and late charges tools if you have any questions

Please feel free to give us a call thank you for joining us for today’s webinar if you have additional questions please call our support line at 503-363-5432 or access our complete online manual at opendental.com and to make sure you’re staying up to date on our latest training videos don’t forget to subscribe to our channel and turn on notifications

Transcribed from video
Open Dental Webinar- Billing II: Billing/Finance and Late Charges By Open Dental Software