General Escrow Items(Creating and Funding the Escrow Account)

Escrow is a feature that allows you to enter money that a patient has paid for services that have not yet been rendered.  For example, when a patient pre-pays for their IVF cycle, this money would go into their Escrow account, which will then be available to debit from as the patient accumulates charges.

Escrow Fee Schedule Set-Up

Begin by setting up the To Escrow Fee Schedule.  This is accessed by clicking on the Gears icon,  then selecting EMR Settings, and then To Escrow Fee Schedule.

The To Escrow Fee Schedule window will open.  Click on the paper icon to add a new item to the schedule.

Item the Item to be added and the Cost associated with the Item.  Click Save.

You will get a message that the Service and Supplies were Added successfully. Click OK to exit.

The newly added item is now seen in the To Escrow Fee Schedule.  Items can be edited by clicking the pencil icon.

Edit the fields as appropriate and click Save.

You will get a message that the Service and Supplies were Updated successfully. Click OK to exit.

Continue to build the Escrow Fee Schedule and when it is complete, you will be ready to set up the patient's Escrow account.

Setting Up the Patient's General Escrow Account

1. Click the Accounting button on the left navigation bar.

2. Click the Patient tab.

3. Use the search bar to locate the patient chart.

4. Click either the Escrow tab or Escrow Available hyperlink to access the escrow screen.

To create an Escrow account for a patient, click To Escrow.

Zoom:

Start by:

1.  Entering the date

2.  Select who the invoice is for, patient or partner

3. Select the location.

** For general escrow items not related to a package, disregard the package dropdown option.

Select the appropriate To Escrow Charge.

Once the item is selected, the other fields will auto populate based on the Escrow items that have been entered into your system previously.

Click Save to continue.

 

You will receive a notification that the escrow invoice was added successfully.

The general escrow has been added to the Escrow Item list. Now that the patient's Escrow Account has been set up, it will need to be funded.

Adding Funds to the Escrow Account

Once the Escrow account has been set up for the patient, you will need to apply the funds collected from the patient to the account.  Select the appropriate Date of Service (DOS) within the Escrow Tab.

The escrow item will highlight purple and details of the escrow item will display to the right.

Click the Dollar Bill icon to apply a payment.

Click  + Add New Record.

1. Enter any Notes in the free-text field.

2. Enter the New Payment information.

3. Click Save to exit.

The Payment Details screen will open, click Close to exit.

1. The DOS will now show the Available credit balance in the escrow item and the summary.

2.  Within the summary of the Escrow Account, the Deposits column indicates the amount credited to the account, in this example $600. The Amount Due column shows the remaining balance due to fund the escrow item, in this example $900.  The Amount Used will indicate the total amount debited from the Escrow Account, at this time $0.00.

Multiple payments for funding, for example on different days, can be added to the Escrow account.

Click the Dollar sign next to the IVF Deposit that was previously created.

Click + Add New Record

Add the additional payment information as appropriate.

Multiple payments have been entered for this account.

1. This patient's Escrow Account has now been fully funded.

2. The escrow money is now reflected in the Escrow Available balance.

Multiple Tax IDs

For clinics with more than 1 tax ID for various locations, you can create escrow items assigned to the different tax IDs.

Click on the dropdown and select the appropriate tax ID to where you would like the escrow posted.

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Escrow items will be filed separately under each tax ID. However, the Escrow Available balance will reflect the total escrow amounts across all tax IDs listed.

**All manuals are compliant with HIPAA regulations.  No patient information has been released.  All screenshots above were taken from a test clinic with fake patient information.