Post-a-Payment-Medical-Billing-health-and-medicine-homework-help

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When a patient or the insurance carrier makes a payment on a patient’s account, the data reflecting this payment must be entered into the organization’s accounting system. The Remittance Advice forms that contain this data are not standardized; therefore, they will look different from payer to payer and use the payer’s preferred descriptors. In this assignment, you will use an Excel spreadsheet to capture patients’ Remittance Advice information.

To complete this assignment, do the following:

  1. Download the Remittance Advice document below. This document contains Remittance Advice information for the patients you will be working with for this assignment.
  2. Download the Excel spreadsheet below. This spreadsheet contains a sample posting for you to use as a guide.
  3. Beneath the yellow sample row in the spreadsheet, record the payments received for each patient contained in the Remittance Advice Information document. Use the following guidelines in capturing the data:
  • Payments received for individually charged items also need to be posted.
  • If needed, calculate the total amount reimbursed based on payment information provided.
  • Record the date the payment was received (Payment Date) in the format MM/DD/YY.
  • Record the Medical Record Number (MRN) and account/encounter number (Acct#) without leading alpha characters or dashes.
  • Format payment amounts as currency, in whole numbers and using the dollar ($) sign (for example, $10 or $1,000).
  • Record payment method as one of the following: Cash, Personal Check, Insurance Payment.
  • Any payments made by the patient themselves, need to be recorded as a separate line item, the same as if it was separate insurance

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