Health Informatics: Medisoft Financial Reports and Analysis Report

This report provides an overview of Medisoft financial reporting within healthcare facilities, focusing on the creation and analysis of various financial reports. It begins with an executive summary and table of contents, followed by an introduction that highlights the significance of financial reporting in healthcare, particularly in recording patient health and payment information using Medisoft software. The report details the three primary types of day sheets: patient day sheets, which track daily patient activities and insurance payments; procedure day sheets, which record all procedures performed in a day; and payment day sheets, which document payment transactions. The report also covers the analysis report, which is used to evaluate billing and practice revenue. The document references several sources and includes tables illustrating the structure and data contained within each type of report, such as patient and procedure day sheets. The conclusion emphasizes the importance of financial reporting in supporting healthcare operations and the functionality of Medisoft in generating these reports.

Running Head: Health Informatics
HEALTH INFORMATICS

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Health Informatics
Executive summary
This report highlights on the preparation of financial reports based on patient’s data within a
health care facilities. Medisoft has been considered as effective and renowned system software
with the aid of which health care providers can record payment data of patients. This report has
provided gist regarding three types of day sheets which are used by health care facilities on a
daily bases such as patient’s day sheet, procedure day sheet, and payment day sheet.
Additionally, it has also provided an analysis report which takes into account all cost or revenue-
related transactions that have taken place within a specified period.

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Health Informatics
Table of Contents
Introduction......................................................................................................................................4
Medisoft financial reports................................................................................................................4
Patient day sheets.........................................................................................................................5
Procedure day sheets....................................................................................................................6
Payment day sheet........................................................................................................................8
Analysis report.............................................................................................................................9
Conclusion.......................................................................................................................................9
Reference list.................................................................................................................................10
Appendix: Practice analysis report................................................................................................12

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Health Informatics
Introduction
Financial reporting in healthcare facilities plays a significant role in terms of recording of
patients health-related and payment-related information. Medisoft reporting tool is one such
reporting or accounting tool which records data related to payments of patients. It has added
features to manage health insurance information to support billing code requirements. Within the
system, various types of reporting can be prepared, which includes patient’s day sheet, payment
sheets, and procedure day sheet. All these sheets record patients’ regular activity and payment
activity so that health care facilities can get access to information whenever needed. This report
will focus on applying knowledge of preparing medical financial reporting, along with creating
three patients day sheet.
Medisoft financial reports
Medisoft network professionals provide an integrated software system with the aid of
which patients payment statements can be prepared. As opined by Hitt & Tambe (2016), it can
be used within a network environment to support the smooth flow of the medical billing system.
This software provides various types of the financial reporting system, which can be used to
record patient payment history (Wu et al. 2017). Three major types of day reports which are used
daily by health care facilities are discussed below.
Figure 1: various types of day sheets available in MNP
(Source: Hitt & Tambe, 2016, p.838)

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Health Informatics
Patient day sheets
Patient’s day sheets record everyday activities of a particular patient. It is known as an
electronic document which takes into consideration daily charges of patients along with activities
of insurance payable (Weiner et al. 2016).
Patients name: Ken Adams
Entry Date Docume
nt
POS Descripti
on
Provider Code Amount
380 21/07/20
19
10907050
10
11 2 CHVCP
AY
-15
421 21/07/20
19
15452889
21
11 2 99211 36
422 21/07/20
19
10552281
67
11 2 84576 29
Patients
charges
Patients
receipts
Adjustme
nts
Patients
balance
$65 ($15) $0 $50
Table 1: Patients day sheet maintained by Cleveland clinic
Patients Name: John Kowaski
Entry Date Docume
nt
POS Descripti
on
Provider Code Amount
544 21/07/20
19
10070689
01
11 1 90452 15
558 21/07/20
19
18001025
42
11 1 90702 29
567 21/07/20
19
15670020
18
11 1 CHVCP
AY
-15
Patients
charges
Patients
receipts
Adjustme
nts
Patients
balance
$44 ($15) $0.00 $29
Table 2: Patients day sheet maintained by Cleveland clinic

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Health Informatics
The above two sheets represent patients’ day sheet of two different patients. It has
showcased activities took place within a day concerning payments and receivables.
Procedure day sheets
A procedure day sheet is referred to as electronic documents which take into account all
kinds of activities which took place within a day. As opined by Dehmer et al. (2016), it does not
reflect information related to only one patient; instead, it shows the whole procedure that the
health facility has encountered within a full day.
Entry Date Chart Name Docume
nt
POS Debit ($) Credit
($)
29580/39
2
21/7/201
9
GARDIJ
HO
Gardiner,
John
13402255
67
11 121.5
Total of
29580
Quantity
1
0
84576/42
2
21/7/201
9
ADKN Adams,
Ken
10552281
67
11 29
Total of
84576
Quantity
1
0
90452/54
4
21/7/201
9
KOWSJ
OO
Kowaski,
John
10070689
01
11 15
total of
90452
Quantity
1
0
90702/55
8
21/7/201
9
KOWSJ
OO
Kowaski,
John
18001025
42
11 29
Total of
90702
Quantity
1
0
99211/42
1
21/7/201
9
ADKN Adams,
Ken
15452889
21
11 36
Total of
99211
Quantity
1
0
99250/38
5
21/7/201
9
GARDIJ
HO
Gardiner,
John
10020088
81
11 54
Total of Quantity 0

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Health Informatics
99250 1
99255/38
2
21/7/201
9
RANLSA
RH
Randall,
Sarah
10090670
08
11 36
Total of
99255
Quantity
1
0
CHVCP
AY
380 21/7/201
9
ADKN Adams,
Ken
10907050
10
11 -15
567 21/7/201
9
KOWSJ
OO
Kowaski,
John
15670020
18
11 -15
Total of
CHVCP
AY
Quantity
2
0 -30
OHCCP
AY
395 21/7/201
9
RANLSA
RH
Randall,
Sarah
10065018
82
11 -20
Total of
OHCCP
AY
Quantity
1
Total of
codes
$340.50 -$50
Balance $290.50
Table 3: Procedure day sheets maintained by Cleveland clinic
In the above table procedure day sheet has been made by taking into account the details
of all the patients and their transactions, which has taken place within a day. As stated by
Maclean & Saloner (2018), it has provided a total of transactions which has received and charged
by the hospital.

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Health Informatics
Payment day sheet
In case of payment day sheet, information is recorded within the system concerning all
payments that have transacted on a particular day. According to Wage, Lee, & Glaser (2017),
record details are organized as per provider maintained within the healthcare facilities.
Entry Date Document Descriptio
n
Chart Code Amount
($)
1 Perry,
Katherine
567 21/7/2019 156700201
8
KOWSJO
O
CHVCPA
Y
-15
395 21/7/2019 100650188
2
RANLSAR
H
OHCCPA
Y
-20
Count 2 Provider
total
-$35
2 Ryder,
John
380 21/7/2019 109070501
0
ADKN CHVCPA
Y
-15
Count 1 Provider
total
-$15
Report
total
Total
number of
payments
3
Total
payments
-$50.00
Table 4: Payment day sheet maintained by Cleveland clinic
The above report has showcased payment transactions which have been made by patients.
It has recorded only those transactions which included payments received from patients side
upon charging for services by the hospital.

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Health Informatics
Analysis report
Analysis report provided within the system software of Medisoft focuses on preparing
reports related to specific billing status or practice. As opined by Maxey, Norwood, & Osburn
(2016), in case of a billing analysis report, it takes into account all the payments that have been
incurred within a specific period. On the other hand, practice analysis report emphasizes on
analyzing revenue of a specific practice within a stipulated period (Bouidi, Idrissi, & Rais, 2017).
In the Medi, Software analysis report can be prepared by choosing an analysis report from report
option in the menu (Refer to appendix).
Conclusion
Thus it can be concluded that medical financial reporting aids in supporting operational
activities which take place within a medical facility. Medisoft software provides an integrated
system which helps in generating a smooth flow of work. It has various functions and features
concerning recording payment and receivable transactions of patients. Additionally, it also
provides an option for preparing analysis report that can be used in analysing data related to
revenue or cost, which has been incurred within a year or month.

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Reference list
Bouidi, Y., Idrissi, M. A., & Rais, N. (2017). Adopting an open source hospital information
system to manage healthcare institutions. LIFE: International Journal of Health and Life-
Sciences, 3(3). Retrieved on 26th July, 2019 Retrieved From
https://grdspublishing.org/index.php/life/article/view/932
Dehmer, G. J., Jennings, J., Madden, R. A., Malenka, D. J., Masoudi, F. A., McKay, C. R., ... &
Rumsfeld, J. S. (2016). The national cardiovascular data registry voluntary public
reporting program: An interim report from the NCDR public reporting advisory
group. Journal of the American College of Cardiology, 67(2), 205-215. Retrieved on 28th
July, 2019 Retrieved From http://www.onlinejacc.org/content/accj/67/2/205.full.pdf
Hitt, L. M., & Tambe, P. (2016). Health care information technology, work organization, and
nursing home performance. ILR Review, 69(4), 834-859. Retrieved on 26th July, 2019
Retrieved From: http://iecon.net/wp-content/uploads/2016/02/ILRR-Nursing-Homes-
1.pdf
Maclean, J. C., & Saloner, B. (2018). Substance use treatment provider behavior and healthcare
reform: Evidence from Massachusetts. Health economics, 27(1), 76-101. Retrieved on
26th July, 2019 Retrieved From
http://www.cla.temple.edu/RePEc/documents/DETU_15_11.pdf
Maxey, H. L., Norwood, C. W., & Osburn, L. L. (2016). The US health system. In Clinical
Informatics Study Guide (pp. 23-46). Springer, Cham. Retrieved on 30th July, 2019
Retrieved From
https://www.researchgate.net/profile/Xinning_Gui/publication/332770582_Unpacking_th
e_Infrastructuring_Work_of_Patients_and_Caregivers_around_the_World/links/
5cd75b66458515712ea4b6ef/Unpacking-the-Infrastructuring-Work-of-Patients-and-
Caregivers-around-the-World.pdf
Wager, K. A., Lee, F. W., & Glaser, J. P. (2017). Health care information systems: a practical
approach for health care management. John Wiley & Sons. Retrieved on 29th July, 2019
Retrieved From
https://erl.ucc.edu.gh/dspace/bitstream/123456789/3013/1/%5BKaren_A._Wager
%2C_Frances_W._Lee%2C_John_P._Glaser%5D_H%28BookZZ.org%29-1.pdf

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Weiner, L. M., Webb, A. K., Limbago, B., Dudeck, M. A., Patel, J., Kallen, A. J., ... & Sievert,
D. M. (2016). Antimicrobial-resistant pathogens associated with healthcare-associated
infections: summary of data reported to the National Healthcare Safety Network at the
Centers for Disease Control and Prevention, 2011–2014. infection control & hospital
epidemiology, 37(11), 1288-1301. Retrieved on 27th July, 2019 Retrieved From
https://www.cdc.gov/nhsn/pdfs/datastat/2014-ar-data-summary-nhsn.pdf
Wu, H., Ambavane, A., Mukherjee, S., & Mao, S. (2017). A coherent healthcare system with
RDBMS, NoSQL and GIS databases. Retrieved on 28th July, 2019 Retrieved From
http://ir.kiu.ac.ug/xmlui/bitstream/handle/20.500.12306/1474/Chinecherem
%20Umezuruike.pdf?sequence=1&isAllowed=y

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Appendix: Practice analysis report