MedLook Weekly Tip For 01/27/2006

MedLook allows you to add interest to patient statements. To do this there are three sections you need to edit. First select Tools->Options. On the Options dialog there is a section for Interest. You can enter the APR as a percentage and the number of Days before Accrual (e.g. 5% and 60 days). This sets the interest rate and starting point for generating interest.

Next, each patient can individually be flagged as being charged interest or not on the Patient Edit dialog under the Billing section. The Add Interest field can be set to Yes or No. This can be set by default on the Options dialog under New Patient Default Settings::Add Interest (Yes/No).

Finally, in Patient Batch Billing the Add Interest option can be enabled or disabled. The date of last (DOL) interest calculation is shown in parenthesis.

When Patient Batch Billing is processed the appropriate statements will include a new debit line for interest and the debit will be included in the patient's accounts.

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