Sometimes, a patient may need a summary of their entire year's transactions for tax purposes, which may include a period before their practice was migrated to CareStack.
The use cases behind viewing migrated transactions are explained below.
1. Financial Accuracy and Reconciliation
Managers need to verify that all historical financial data, including balances, payments, and adjustments, has migrated correctly. Viewing these transactions ensures that no discrepancies exist, facilitating accurate reconciliation with bank statements and patient balances.
2. Compliance and Reporting
Regulatory compliance often requires accurate record-keeping, which includes past transaction details. Having access to these transactions is essential to generate reports for audits, tax filings, and healthcare compliance.
3. Patient and Account Continuity
Migrated transactions maintain historical patient financial records, including payments and outstanding balances. This helps managers provide continuity of care and accurate account information when patients inquire or when reconciling accounts across visits.
4. Provider Payouts and Revenue Management
Viewing historical transactions helps in calculating accurate provider payouts, understanding revenue patterns, and forecasting future income. It also provides insight into trends in billing and collections for decision-making.
5. Billing and Insurance Verification
Accurate historical data allows the manager to validate that previous charges, payments, and insurance adjustments have been correctly carried over. This aids in quickly resolving patient or insurer disputes.
6. System Transition Confidence
Access to these records builds confidence in the transition to the new system, ensuring all data is complete and accessible. This mitigates concerns related to data loss or errors during migration.
7. Strategic Decision-Making
Analyzing past transaction trends helps managers understand cash flow, patient payment behaviors, and overall financial health, aiding in more informed decisions about practice growth and resource allocation.
Having comprehensive, accessible historical data strengthens operational efficiency and supports a smoother transition to improved financial management in the new practice management system.
You can easily print these transactions directly from the patient's overview. Let's get started.
Select the patient using the Global Search Bar.
- Navigate to the Patient Overview > Menu > Migrated Transactions.
- You can filter the transactions by Transaction Type for each migrated transaction, offering clearer insight into the purpose of each entry.
- Other filters include Transaction Type, Code, Description, Provider, or Location.
- Click Print Icon on the top right.
The printout of the Migrated Transactions List will be displayed in a new tab now with a 'Transactions' header.
This will provide you with a printable list of all transactions within these dates. Remember that this will only be visible for patients who had transactions migrated over to CareStack.