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Financial Types

The Financial Types form defines various modes of payment options available to patients. The application is built with certain predefined financial types which suits your business demand. As per your business requirement, you may edit the existing modes of payment options.

The in-built financial types and their definition are listed below:

CodeFinancial Type NameDefinition
CPCapitatedPayment will be made through Capitation
SPSelf-PayPayment will be made by the patient
CMCommercialPayment will be made through a Commercial Agency, Insurer, Independent Practice Association (IPA), etc.
MEMedicarePayment will be made through Medicare
OTOtherPayment will be made through other means

How to Create a new Financial Type​

  1. Click RIS Settings > Financial Types.

  1. Click New. Upon click, the application adds an empty row at the bottom of the existing financial types and Active checkbox is checked.
  2. Type in the name of the new financial type in the Financial Type Name text field.
  3. Type in a unique code to represent the new financial type in Code text field. It can be alphanumeric.
  4. Click Save.

Default Financial Type:​

The value displayed in drop-down denotes the default financial type. The default financial type can be changed to suit the business requirement (frequently used) by using this functionality.

  1. Click the down arrow in the Default Financial Type drop-down menu to view the list of various financial types.
  2. Select the desired financial type.
  3. Click Save. The chosen financial type will be set as default financial type. This could be found in Demographics tab of Patient Info screen.

The application is set to display "SELF-PAY" as the financial type in the Demographics tab of the Patient Info screen. This default can be changed in System Configuration.

Duplicating an Existing Financial Type

If business demands require the creation of a new financial type similar to an existing financial type, the duplication feature can be used.

  1. Select the name of the financial type which is most similar in functionality from the list available.
  2. Click Duplicate. Upon click, the application will create a copy of the chosen financial type.
  3. Click on Code text field and rename code. The code must be unique. It can be alphanumeric.
  4. Click on Financial Type Name text field and rename the financial type.
  5. Click Save.
Sequencing Financial Types

The sequence of financial types can be determined by clicking on the red up or down arrows. The sequence in which the financial types is set will remain constant. Frequently used financial types are on the top and the least commonly used financial types are at the bottom.