There are three options that clients can use to set up their accounting in CareRight.
- Practice
- Account
- Invoice
Dashboard> Administration> Accounting;
| Practice: | This means that they are looking at their practice as a whole. They would need to set up all doctor's Medicare/eclipse to pay into a single account and accounting is done by looking at the business as a whole. NOTE: This can still be broken up by locations if necessary but all accounting is done as a single entity |
| Account: | This means there will be Certain principles in the business (associates of the business) Each one of these works like individual sole subsidiaries. |
| Invoice: | Every doctor at the practice works as a sole subsidiary. This becomes an issue when a locum fills in for a doctor but works well for specialist practices where locums cannot be used due to the specialist nature of their work. |
This selection details the banking reports so that any cash collected in a single location can be slit into the correct areas when banking.
Please note: Medicare Proda banking details must match this selection to ensure money goes to the correct doctor/practice account.
The system can then generate three types of reports;
- All Receipts and All Refunds can be used to look at money received split up by the Location / Account Provider so that practice can generate a report to clawback a percentage of fees associates are being paid directly if using patient accounting or can be used to generate a report detailing a percentage to be paid to the doctor if using practice accounting
- Drs Payment reconciliation reporting on receipts allocated to services performed. This matches money allocated to the patient account/location level showing money being added and subtracted for each service. This report can be used to clawback a percentage of fees associates are being paid directly or at the location level and can be used to generate a report detailing the percentage to be paid to the doctor
- Doctors Payment Report This is based on the services (revenue) generated at the *invoice level* for individual doctors
In all cases, our larger practices use *practice accounting*
Queensland is one of the first to introduce payroll tax to healthcare providers so to avoid this we may start seeing practices trying to move from the practice accounting model to the Associate (Account) model where the practice would then charge a percentage of money deposited with the doctor for the service the practice does for them.
Reports Ready to Import to CareRight:
Based on the model of Accounting described above, Download the appropriate Report for your practice.
1.(a) All Receipt.report
Example Data:
1.(b) All Refund.report
Example Data:
2. Drs Payment reconciliation - Invoicing & Receipting .report
3. Doctors Payment Report (ABC) - Detailed - v10 - ALL DOCTORS.report
Example Data:
