Why are you not running the month end process? Is it because you might need to edit something on the ledger or change a clinical note? These are not good reasons to hold out on running your month end process. Now I realize some of you might not agree with me. However, I think most accountants and attorneys would agree that this is not best practices.
Running the month end is so important and critical to having accurate numbers and legal documentation. I was recently teaching a class and one of the audience members refuses to run month end because she wants the ability to edit the ledger. If I was a business owner, this would send up huge red flags for me.
The month end process tackles five key things that help your system run better and more secure…
- It locks up your patient ledger into history, so you cannot make edits to charges, payments or adjustments. You can still edit an open claim if needed. If you need to delete a claim and resend the charges to a different insurance plan, you can still do that as long as the claim is still open and no payments have been made to it.
- It locks up your clinical notes into history, so you cannot edit the note or delete it. If you need to edit a clinical note or it was accidentally posted to the wrong patient, you can make an addendum. This process is the legal and more responsible way to handle your clinical documentation.
- The month end process will reset the insurance benefits used back to zero if the insurance plan renews that month. This will help your team give more accurate treatment plan estimates.
- During month end, the ending balance from the previous month will be moved into the beginning balance of the new month. This will ensure that your accounts receivable balances are more accurate on reports like the Practice Analysis, Analysis Summary and the Provider A/R report.
- Your patient balances are moved from one aging category to the next during the month end process. If you never run month end, then your account balances will always stay current.
Be responsible and put the month end process at the top of your priority list each month. There are new updates coming with the month end process so keep your eye out for a blog on that coming soon.
Dayna loves her work. She has over 25 years of experience in the dental industry, and she’s passionate about building efficient, consistent, and secure practice management systems. Dayna knows that your entire day revolves around your practice management software—the better you learn to use it, the more productive and stress-free your office will be. In 2016, Dayna founded Novonee ™, The Premier Dentrix Community, to help cultivate Dentrix super-users all over the country. Learn more from Dayna at www.novonee.com and contact Dayna at firstname.lastname@example.org.