Occasionally it is necessary to correct an insurance company mistake. Sometimes they take money back from one payment in order to make up for a mistake on another. VersaForm provides the ability to handle these problems.
Question: The Insurance company sends a check for $200 for patient A. You post the payment against a $200 charge for patient A. Then the insurance company decides they should not have made that payment. They inform you that they are denying it, and that you owe them $200. Later they send you a check for $500 for patient B. Patient B has a $700 charge, and the insurance is paying $700, but $200 was kept back to make up for the previous overpayment to patient A.
How do we post this to the Ledger?
The Ledger needs to show that a payment of $700 to patient B was received. The deposit slip needs to show a deposit of $500.
On patient A's ledger, reverse the $200 payment that was paid on the $200 charge. Now patient A has a $200 credit.
Using the Add Payment Button, mark the original $200 charge Denied.
Transfer that $200 credit from patient A to patient B.
Click on Utilities, then Issue Refund or Transfer.
After clicking Transfer, you can select Patient B as the patient to transfer the money to.
Now Patient B will have a $200 credit.
On patient B's ledger, apply the $200 credit to the $700 charge leaving it with a balance of $500.
Finally, on patient B's ledger, apply today's $500 check to the $500 balance.