NextGen Office Monthly Financial Summary- Analysis Grid

NextGen Office Monthly Financial Summary

Analysis Grid

This article describes the Monthly Financial Summary Analysis Grid, which you can use to review important financial values by provider, such as transactions and payments, using a custom date span.

Highlights

The logic used to compile reporting values is designed to match only the payment-related columns of our old Monthly Financial Summary. All other columns are calculated differently.
We updated charges, adjustments, and write-offs to only report by the transaction’s ledger date, thus helping users comply with accurate balancing procedures. These values will not match to the old Monthly Financial Summary.
Reporting these values by ledger date guarantees these values will not change when comparing them at two different points in time as long as the the month has been closed.
When entering transactions, the ledger date always defaults to the current date and is thus comparable to the created date unless it is changed at the time of entry.

Recommendations

After the month is closed, you must not void any payments posted in the system. Failure to do so will result in changes to the reported payment values for past closed months. Only ledger date-based reports will not change if payments are voided after month close.
We recommend that you apply all payments to a claim or tag the payment to a provider before closing the month. This is necessary to confirm all payments are reported to a provider at month close. Failure to do so will result in inaccurate allocation of payments to each provider.

Reporting Data

Combines transaction, payment, and charge data
Data is updated daily at 11:59 PM PT
Data is available starting January 1, 2016

Navigate to Reports

From the Practice Management menu bar, hover the cursor over Reports and then click Reports.

Generate a NextGen Office Monthly Financial Summary Report

For Report Type, select Practice Performance.
For Report Name, select Monthly Financial Summary – Analysis Grid.
Select a reporting period.

For details on each Date Type as they relate to each report column, see Report Details.

Select a Time Period or enter a Start Date and End Date.
Click Generate Report.

NextGen Office Reporting

NextGen Office Reporting 2

Report Details

We define columns and date types as they related to each column. To match these columns to a detailed report, use the recommended reports in the Matching Reports column.

Column	Definition	Deposit Date	Payment Created Date	Payment Date	Matching Report
Provider	Provider = servicing provider If no servicing provider, it is the rendering provider. If no servicing or rendering provider, it is the billing provider.
Visits	Unique date of service per service line per patient	Created date of the service lines	Created date of the service lines	Created date of the service lines	Use the Service Line Details – Analysis Grid to calculate
Charges	Identifies all charge transactions that increase or decrease the insurance or patient balance.	Ledger date of the transaction	Ledger date of the transaction	Ledger date of the transaction	Transaction – Analysis Grid by ledger date Sum charges and group by servicing provider.
Work RVU	Sum of Work RVU for charges created in the selected time period. Column is hidden by default.	Created date of the charge	Created date of the charge	Created date of the charge	RVU – Analysis Grid by created date Sum Work RVU and group by servicing provider.
Gross Applied Payments	Formula: Applied Insurance + Applied Patient + Overpayments Identifies all payment transactions that are applied to a claim. Column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Detailed Applied Payment – Analysis Grid
Applied Insurance	Identifies all insurance payment transactions that are applied to a claim. This column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Detailed Applied Payment – Analysis Grid Sum insurance payments and group by servicing provider.
Applied Patient	Identifies all patient payment transactions that are applied to a claim. Column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Detailed Applied Payment – Analysis Grid Sum patient payments and group by servicing provider.
Overpayment	Identifies the overpayment amounts applied from the payments reported in the selected time period. Column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Overpayment – Analysis Grid Sum overpayments and group by servicing provider.
Unapplied Payments	Sum of unapplied payments. Refunded amounts are not included. Column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Payments – Analysis Grid Sum unapplied payments and group by provider.
Capitation/Other Payments	Sum of all payment types except insurance and patient (e.g., capitation, quality incentive payments). Column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Payments – Analysis Grid Sum unapplied payments and group by provider.
PMT ADJ	Sum of positive and negative payment-level adjustments. The values are displayed as the inverse from the entered amount to reflect their impact on payments. A negative payment-level adjustment entered indicates a positive impact on payments (increases revenue), thus it is displayed as a positive number in this report. Column is hidden by default.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Payment Level Adjustment Analysis Grid Sum amount and group by provider.
Total Receipts	Formula: Gross Applied Payments + Unapplied Payments + Capitation/Other Payments + Payment Level Adjustments (PMT ADJ)	Deposit date of the payment	Created date of the payment	Payment date of the payment	Total Receipts = Total Amount from Payments – Analysis Grid Only the total for all providers combined will match to the Payments – Analysis Grid. The providers reported in the Payments – Analysis Grid are identified by the payment tag available when a payment is posted in the system. Payments are not typically associated to a provider until they are applied.
Refunds	Identifies all refunds posted.	Deposit date of the payment	Created date of the payment	Payment date of the payment	Payments – Analysis Grid Sum refund amount and group by provider.
Net Receipts	Formula: Total Receipts – Refunds	Deposit date of the payment	Created date of the payment	Payment date of the payment	Use formula
Voided	Identifies the total amount of payments voided that were originally posted in the selected reporting period. The created date of the void is not considered. This column can be used to evaluate receipts that changed over time. The sum of Total Receipts will not change as long as payments are not voided after the month is closed.	Deposit date of the original payment	Created date of the payment	Payment date of the payment	Billing > Payments > Search Payments For Payment Status, select Voided Payments
Adjustments	Identifies insurance adjustment transactions by ledger date.	Ledger date of the transaction	Ledger date of the transaction	Ledger date of the transaction	Insurance Adjustment – Analysis Grid by ledger date Sum amount and group by servicing provider.
Write-offs	Write-offs are reported by the ledger date.	Ledger date of the transaction	Ledger date of the transaction	Ledger date of the transaction	Write-off Analysis Grid by ledger date Sum amount and group by servicing provider.
Change in AR	Formula: Charges – (Applied Insurance Payments + Applied Patient Payments + Adjustments + Write-offs) These are the only columns included because they are the only ones that either increase or decrease the total balance (AR).	Use formula	Use formula	Use formula	Use formula
Total Balance	Identifies the open AR balance from the start of time to the end of the month being closed. The end date of the selected reporting period is used to identify the month being closed. If the reporting period overlaps with one or more months, the end date month minus one month is identified as the month being closed (e.g., the open AR balance from the beginning of time to June 30, 2016 will be reported if any of the following date spans are entered: 06/01/2016-06/30/2016, 06/04/2016-07/05/2016, 06/01/2016-06/29/2016, 03/01/2016 – 07/03/2016). This value will change when comparing at two different points in time. We recommend locally saving this report to refer to the end of month open AR balance. As an alternative, the AR Roll Forward reports automatically store the end of month AR balance. These balances may differ due to overlapping transactions, which are only calculated in the AR Roll Forward reports.	Date of service of the charge	Date of service of the charge	Date of service of the charge	AR by Servicing Provider – Summary from the start of time until the last day of the month being closed.

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