The Transfer Balance Feature Has Arrived!

Highlights

• The new Transfer Balance feature in cloud-based ChiroTouch streamlines the ability to transfer balances between patients and payers.
• Rather than manually edit every charge in a patient ledger, you can transfer balances by using the bulk action menu.
• This feature makes it easier to transfer balances when patients have maxed out their insurance benefits or to write off balances following a personal injury settlement.

ChiroTouch in the cloud has introduced a new Transfer Balance feature that streamlines the process of transferring balances between patient ledgers to optimize chiropractic biller workflows. This feature lets billers move balances from one payer to another with a simple drop-down menu, simplifying the process for complex cases involving a change of payer or a balance write-off.

This new Transfer Balance feature helps practices run more smoothly and efficiently, leading to improved profitability.

You Asked, We Delivered: ChiroTouch’s New Transfer Balance Feature

In response to customer feedback, ChiroTouch has implemented a new Transfer Balance feature for chiropractic billers. This new capability, available in our cloud-based ChiroTouch, simplifies the chiropractic billing process.

Transfer Balance allows billers to quickly move balances in the patient ledger without having to edit each charge individually. By selecting multiple invoices, they can transfer the total balance all at once, saving time and increasing efficiency for the entire practice.

Here is how the new feature can help simplify chiropractic billing:

Change of Payer

Patients who visit your practice multiple times per week or month may have limits on how much or how many chiropractic sessions their insurance company will cover. This means that once these patients hit their maximum benefit, they aren’t covered for services for the rest of the year.

These repeat patient visits often result in a large number of invoices. It may take the insurer up to 30 days to send a determination of non-payment, leaving your practice with multiple unresolved invoices that pile up for weeks or months at a time.

With Transfer Balance, you can transfer the primary insurer balance to the patient when they max out their insurance benefits. Instead of spending hours editing individual invoices or waiting on insurance rejections, you can quickly transfer all remaining balances to the patient.

When inside the patient ledger, find the date the patient’s insurer stopped providing benefits, then select all open invoices from that date forward. You can then use the transfer function from your dropdown menu to finish the transaction, choosing the maximum benefit code from the dropdown menu to record the reason for the balance transfer.

Balance Write-Offs

Due to popular demand, chiropractic billers can now write off balances for nonpayment and personal injury settlements using the Transfer Balance function in ChiroTouch. If you frequently treat personal injury patients at your practice, you may encounter situations where a patient settles their personal injury case and needs to pay for their care with the settlement funds.

This often occurs when a patient has been in a car accident and seeks treatment for their injuries. For instance, you treated a patient for their injuries and billed them $5,000. To finalize the settlement, their attorney must pay off all medical liens from the patient’s providers. The attorney may approach your practice with an offer of $4,000 as payment in full, leaving you with a remaining balance of $1,000 on the patient ledger.

In this scenario, your practice must record the $4,000 payment and write off the remaining balance. You can now use the multi-select option to transfer the balance from insurance responsibility to an adjustment or write-off.

Visual Guide to Using Transfer Balance

The Transfer Balance feature in ChiroTouch can help you manage your practice’s finances more efficiently. Until now, when you viewed a patient’s account in the ledger, you saw open charges, including charges attributed to the patient and insurer.

You needed to manually edit the charge’s details to adjust the payer responsibility or patient expectation for a particular charge. This could be time-consuming and confusing, especially if you have several charges to manage for one patient.

With the Transfer Balance feature, you can quickly and easily transfer balances between the patient and the payer.

To do this, select the charges you want to transfer and choose the Transfer Balance option from the bulk action menu.

From there, you will see a popup of the Transfer Balance menu. You can choose to transfer the balance from the primary payer to the patient.

You must also choose a code for your transfer balance. For instance, if there is a change of payment responsibility from the insurance company to the patient, you can select from the code drop-down menu.

For a patient who has reached their maximum insurance benefits, you can choose the maximum benefit code, PR-119.

Select the settlement write-off code from the drop-down menu if you need to adjust the balance.

Using Transfer Balance saves time and streamlines your practice’s financial management processes. Rather than manually editing every charge, you can make bulk transfers and adjust payer responsibilities with just a few clicks. This can help you stay organized and ensure your practice accurately tracks all financial transactions.

This feature helps practices build better patient relationships and improve patient satisfaction by ensuring accurate billing information. Chiropractic billers improve patient communication by providing detailed billing statements explaining the patient’s payment responsibility. This feature can help patients better understand their bills and make more informed decisions about their healthcare.

Take Advantage of ChiroTouch’s New Transfer Balance Feature

The Transfer Balance feature in ChiroTouch is an innovative feature that can save you time and effort when managing your patients’ accounts. It streamlines your workflow by allowing you to easily transfer balances, whether you need to move responsibility from a payer to a patient or write off charges that cannot be collected.

With cloud-based ChiroTouch, you can count on the latest technology and dedicated support to help your chiropractic practice grow and succeed. ChiroTouch’s user-friendly interface and advanced features help you manage patient data and minimize errors to increase reimbursement rates with customizable macros and automatic insurance coding.