Understanding Patient Ledger & Balance Calculations

Balancing Transactions in MDiTek

Balancing transactions ensures that all financial activity recorded in MDiTek matches your actual collections, including cash, credit cards, checks, and insurance payments (ERA). Performing this process daily helps maintain accurate financial records and prevents billing discrepancies.

Overview

At the end of each day (or batch period), you should verify that:

• All payments are correctly entered
• Insurance payments match ERA deposits
• Adjustments are accurate
• No transactions are missing or duplicated

Step-by-Step Process

1. Run Daily Payment Reports

Navigate to:

Billing → Reports → Financial Reports

• Select the Daily Payments Report
• Set the correct date range (typically the current day)
• Apply filters if needed (provider, location)
• Generate the report

Verify Total Collections

Compare MDiTek totals with actual collected amounts:

• Credit card terminal totals
• Cash collected
• Checks received
• Insurance deposits (ERA)

 These totals should match exactly.

Reconcile by Payment Type

Review each category:

• Cash
• Credit Card
• Check
• Insurance (ERA)

Confirm:

• No duplicate entries
• No missing payments
• Correct payment amounts

Review Adjustments

Check all adjustments applied to accounts:

• Contractual adjustments (CO)
• Patient responsibility (PR)
• Write-offs

Ensure:

• Adjustments align with payer contracts
• No excessive or incorrect write-offs

Check Unapplied or Unmatched Payments

Navigate to:

• Activities → Batch Payments
• ERA payment screens

Look for:

• Unmatched claims
• Payments not linked to encounters

Resolve by:

• Matching payments to correct patients/claims
• Reposting if necessary

Run Accounts Receivable (A/R) Report

Generate an A/R report to verify:

• No negative balances
• No unexpected spikes in balances
• Aging buckets appear accurate

Common Issues

• Duplicate payment entries
• ERA batches posted more than once
• Payments not attached to encounters
• Incorrect adjustment codes
• Payments posted to wrong patient

Fixing Errors

If discrepancies are found:

1. Locate the incorrect transaction
2. Edit or delete the entry
3. Repost correctly
4. Re-run reports to confirm accuracy

End-of-Day Checklist

• Payments match actual collections
• ERA totals match bank deposits
• No unmatched or unapplied payments
• Adjustments reviewed and accurate
• Reports saved or exported

 Best Practices

• Balance transactions daily
• Always verify ERA batches before posting
• Use consistent date ranges when running reports
• Maintain a reconciliation log for audits

Key Principle

If MDiTek totals do not match your actual bank or payment totals, there is a discrepancy that must be resolved.