Accounts Receivable.

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stamwitz
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Joined: Wed Oct 10, 2012 10:39 pm

Accounts Receivable.

Post by stamwitz » Wed Oct 10, 2012 10:53 pm

I am buying a practice and the dr. has medisoft. He wants to sell me his accounts rec. within 0-90 days. When he gives me the report it is the "Practice Analysis" from 1994 (when he installed it) to present day, but he also gave me 90 days. Is there a way to run a report showing what was billed and what was not yet paid for the last 90 days. As far as he thinks his A/R is 135k....but that is starting in 1994. HELP

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Gavin Walker
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Re: Accounts Receivable.

Post by Gavin Walker » Thu Oct 11, 2012 8:01 am

you could run the patient aging report. it details out into 30/60/90 day columns. you will also want to run practice analysis to see what adjustments he has been taking. you need to find out how much of that 135k is collectible. :wink:
Gavin Walker
Walker Tek Solutions, LLC
417-890-6777 x0
fax: 417-763-6386

stamwitz
Posts: 2
Joined: Wed Oct 10, 2012 10:39 pm

Re: Accounts Receivable.

Post by stamwitz » Thu Oct 11, 2012 1:43 pm

Thanks.
We got the 30-60-90 report. Is there such a thing as 0-30?
He said 0-90 days was all the A/R he was going to have me buy, after 91 days he was going to write off. The confusing part is that the 31-90+ A/R totals 44k. On the Practice analysis history 1994-presentt, the total A/R is 135k.
Do I make sense?

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Gavin Walker
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Re: Accounts Receivable.

Post by Gavin Walker » Thu Oct 11, 2012 9:56 pm

Go to File -> Program Options -> Aging Reports tab and make sure 0, 30, 60, and 90 are entered in the Patient Aging frame. Then run the Patient Aging report and you should get totals for 0 to 30, 31 to 60, and 61 to 90 days old for the entire practice.

Next you will want to examine practice analysis. If they have had a $1 million in charges and $333 thousand in adjustments then you know around a third of that money will need to be written off because of contractual adjustments. All of this assumes that data is even being entered in properly into Medisoft.

You might be better off paying him a percentage of what is collected and start a new Medisoft database for your practice.

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