Front Desk Training Module
Advantage Healthcare Systems

Financial Transactions

Processing Payments and Managing Financial Records

The front desk plays a crucial role in managing financial transactions at Advantage Healthcare Systems. This module covers essential protocols for processing payments, handling co-pays, managing financial records, and ensuring accurate documentation of all financial transactions.

Learning Objectives
Co-Pay Collection Protocol

Collecting co-pays at the time of service is a critical front desk responsibility. Following the proper protocol ensures accurate financial records and minimizes billing issues.

Co-Pay Collection Workflow:

Verification
Verify patient's insurance and co-pay amount
Notification
Inform patient of co-pay amount due
Collection
Collect payment via approved methods
Documentation
Record payment in MedHiWa and eClinical
Receipt
Provide receipt to patient

Key Co-Pay Collection Standards:

  • verified_user
    Insurance Verification: Always verify the patient's insurance coverage and co-pay amount before collection.
  • schedule
    Collection Timing: Co-pays must be collected at check-in, before the patient sees the provider.
  • payment
    Payment Methods: Accept cash, credit/debit cards, checks, and money orders. No personal checks for new patients.
  • receipt
    Receipt Generation: Provide a detailed receipt for all payments, regardless of amount or payment method.
  • note_add
    Documentation: Record all payments in both MedHiWa and eClinical systems immediately.
  • assignment_late
    Non-Payment Protocol: If a patient cannot pay, document the reason and follow the financial hardship protocol.
  • security
    Security: Never leave cash or payment information unattended. Follow PCI compliance guidelines for card payments.
info Financial Hardship Protocol

If a patient indicates they cannot pay their co-pay due to financial hardship:

  1. Document the patient's statement in both MedHiWa and eClinical
  2. Provide the patient with a Financial Hardship Application form
  3. Inform the patient that they will still receive care today, but payment will be expected at future visits unless a hardship waiver is approved
  4. Notify the billing department via email about the situation
  5. Follow up with the patient regarding the hardship application within 7 business days
Payment Processing Procedures

Different payment methods require specific handling procedures. Following these protocols ensures secure and accurate processing of all financial transactions.

attach_money

Cash Payments

Cash payments require careful handling and documentation to ensure accuracy and security.

  • Count cash in front of the patient
  • Provide a written receipt immediately
  • Store cash in the designated secure location
  • Record the payment in both MedHiWa and eClinical
  • Include the payment in the daily cash reconciliation
  • Never leave cash unattended
credit_card

Credit/Debit Card Payments

Card payments must follow PCI compliance guidelines to protect patient financial information.

  • Process cards through the approved payment terminal only
  • Never write down or store complete card numbers
  • Ensure the patient signs the receipt if required
  • Provide a copy of the receipt to the patient
  • Record the payment in both MedHiWa and eClinical
  • Securely store the merchant copy of the receipt
  • Include the payment in the daily card transaction reconciliation
account_balance

Check Payments

Check payments require verification and proper documentation to prevent payment issues.

  • Accept checks only from established patients (minimum of 3 previous visits)
  • Verify the check includes:
    • Current date (no post-dated checks)
    • Proper payee name (Advantage Healthcare Systems)
    • Matching written and numerical amounts
    • Signature
  • Record the check number in both MedHiWa and eClinical
  • Provide a receipt to the patient
  • Endorse the check immediately with the "For Deposit Only" stamp
  • Store the check in the designated secure location
  • Include the payment in the daily check reconciliation
receipt_long

Money Order Payments

Money orders are treated similarly to checks but with fewer restrictions.

  • Accept money orders from all patients, including new patients
  • Verify the money order includes:
    • Proper payee name (Advantage Healthcare Systems)
    • Correct amount
    • Signature if required
  • Record the money order number in both MedHiWa and eClinical
  • Provide a receipt to the patient
  • Endorse the money order immediately with the "For Deposit Only" stamp
  • Store the money order in the designated secure location
  • Include the payment in the daily reconciliation

Receipt Requirements:

All payments must be documented with a proper receipt. The receipt must include:

PAYMENT RECEIPT

Advantage Healthcare Systems

Receipt #: AHS-12345
Date: 05/20/2025
Patient: John Smith
Account #: PT-987654
Description Amount
Co-pay $25.00
Total $25.00
Payment Method: Credit Card
Card Type: Visa ****1234
Auth Code: 567890

Thank you for your payment!

For billing questions, please call (555) 123-4567

Daily Financial Reconciliation

Daily financial reconciliation is essential to ensure all transactions are accurately recorded and any discrepancies are identified and resolved promptly.

End-of-Day Reconciliation Process:

Generate Reports
  • Generate the daily transaction report from MedHiWa
  • Generate the daily transaction report from eClinical
  • Generate the payment terminal batch report for card transactions
Count Physical Payments
  • Count all cash received
  • Count and list all checks and money orders received
  • Verify card transaction receipts match the batch report
Compare and Reconcile
  • Compare the physical payment counts to the system reports
  • Verify that MedHiWa and eClinical reports match
  • Identify any discrepancies
Resolve Discrepancies
  • Investigate any discrepancies between physical counts and system reports
  • Check for missing entries or duplicate entries
  • Correct any errors found in the system
Complete Reconciliation Form
  • Fill out the Daily Reconciliation Form
  • Document any discrepancies and their resolution
  • Sign and date the form
Prepare Deposit
  • Complete the deposit slip
  • Place cash, checks, and money orders in the deposit bag
  • Secure the deposit in the safe until banking
Submit Documentation
  • Submit the completed reconciliation form to the office manager
  • Attach copies of all system reports
  • File copies of all documentation according to retention policy
warning Handling Discrepancies

If you identify a discrepancy during reconciliation:

  1. Document the discrepancy immediately
  2. Attempt to identify the source of the discrepancy by reviewing all transactions
  3. If the discrepancy is less than $10, note it on the reconciliation form
  4. If the discrepancy is $10 or more, notify the office manager immediately
  5. Never adjust cash amounts to match reports without proper investigation and documentation
  6. Complete an Incident Report for any significant discrepancies
Interactive Practice: Co-Pay Collection
Scenario: New Patient Co-Pay Collection

A new patient, Sarah Johnson, has arrived for her first appointment. Her insurance information shows a $30 co-pay requirement. She wants to pay with a personal check.

How should you handle this payment request?
The patient then offers to pay with a credit card. What information should you document?
Where should you record this payment?
Scenario: End-of-Day Reconciliation

At the end of the day, you're performing the financial reconciliation. Your MedHiWa report shows $450 in payments, but your physical count shows $470 ($300 cash, $170 in checks). What should you do?

How should you handle this discrepancy?
Knowledge Check

Test your understanding of Financial Transactions:

1. When should co-pays be collected from patients?

2. Which payment method is NOT accepted from new patients?

3. What should you do if a patient indicates they cannot pay their co-pay due to financial hardship?

4. What information should NOT be recorded when processing a credit card payment?

5. What is the proper procedure if you find a $15 discrepancy during end-of-day reconciliation?

emoji_events
Perfect Score: 5/5!

Excellent work! You've mastered the Financial Transactions protocols.

Correct Answers:
  • 1. At check-in, before the patient sees the provider
    check_circle
  • 2. Personal checks
    check_circle
  • 3. Document the situation, provide a Financial Hardship Application, and notify billing
    check_circle
  • 4. Complete card number
    check_circle
  • 5. Document it, investigate the source, and notify the office manager immediately
    check_circle
Financial Transactions Cheat Sheet

description Quick Reference Guide: Financial Transactions

Co-Pay Collection

Step Action
1 Verify patient's insurance and co-pay amount
2 Inform patient of co-pay amount due
3 Collect payment via approved methods
4 Record payment in MedHiWa and eClinical
5 Provide receipt to patient

Accepted Payment Methods

Method New Patients Established Patients
Cash Yes Yes
Credit/Debit Cards Yes Yes
Personal Checks No Yes (after 3 visits)
Money Orders Yes Yes

Documentation Requirements

  • Record all payments in both MedHiWa and eClinical
  • Include payment amount, method, and date
  • For checks: include check number
  • For cards: include last four digits and authorization code
  • For money orders: include money order number
  • Provide detailed receipt for all payments

Financial Hardship Protocol

  1. Document patient's statement in both systems
  2. Provide Financial Hardship Application form
  3. Inform patient they will still receive care today
  4. Notify billing department via email
  5. Follow up within 7 business days

Discrepancy Handling

Discrepancy Amount Action Required
Less than $10 Document on reconciliation form
$10 or more Document, investigate, notify office manager immediately

End-of-Day Checklist

  • Generate reports from MedHiWa and eClinical
  • Count all physical payments
  • Compare and reconcile amounts
  • Resolve any discrepancies
  • Complete reconciliation form
  • Prepare deposit
  • Submit documentation to office manager
file_download Download Printable Cheat Sheet
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