Efficiently Manage Aging Reports in Medisoft for Better Accounts Receivable

Aging reports are crucial for managing accounts receivable and ensuring your practice stays on top of outstanding balances. Medisoft provides a range of tools to help you efficiently track patient and insurance balances. Understanding how Medisoft processes aging, customizing aging columns, and leveraging the AR tracker for real-time updates will help you streamline your workflow and stay organized.

Understanding Aging in Medisoft

Medisoft provides a range of tools to manage aging reports efficiently. Whether you’re tracking patient or insurance balances, understanding how Medisoft processes aging is key to maintaining a healthy cash flow in your practice.

• Customizing Aging Columns:
  Medisoft allows you to customize aging reports to better suit your practice’s needs. You can adjust the default aging categories—0 to 30 days, 31 to 60 days, 61 to 90 days, and 91+ days—or add additional columns to tailor reports for your business.
  
  
• The AR Tracker: Your Interactive Solution
  Introduced in Medisoft v22, the AR Tracker is a game-changer for working your aging reports. Unlike traditional paper reports, the AR Tracker is interactive, enabling you to apply filters in real time. For example, you can quickly generate reports for patients or insurance accounts that are 90+ days overdue and even assign tasks to staff members directly from the AR Tracker.

  By simply right-clicking on a record, you can assign follow-up tasks or update statuses to keep track of your collections efforts. This tool is ideal for practices seeking to improve the efficiency of their accounts receivable processes.

• Patient Aging vs. Patient Remainder Aging:
  It’s important to distinguish between patient aging and patient remainder aging reports. While patient aging reports show the total balance a patient owes, patient remainder aging reports focus on the actual amount the patient is responsible for after insurance payments have been applied. This gives a more accurate view of what your practice needs to collect from the patient.
  
  
• Additional Aging Reports:
  Medisoft also offers an extensive library of reports under the Aging Power Pack, which includes features like the ability to extend insurance aging to 180 days or generate patient aging by allowed amounts. These additional reports give you more granular insights into your aging process, helping you plan collections more effectively.
  
  

Why You Should Use The AR Tracker

Watch the Video for More Insights

In this video, we demonstrate how to navigate the aging reports in Medisoft, set up custom aging columns, and leverage the AR Tracker for maximum efficiency. We also cover how to manage patient and insurance balances more effectively, so you can optimize your practice’s financial health.

Watch Here: