Production & Collections Report
Confused about how to interpret your Production/Collections Report? Here's the skinny:
The Production/Collections Report displays all production and collections for a specific date range. The Start Day takes into account what happened right after midnight, and the End Day takes into account right before midnight of the dates you select. This report displays the information by doctor or by office. The Production/Collections Report requires a password. If you need to be granted permissions, see the related article, Staff Permissions, below.
To access this report, go to Reports > Production/Collections.
What you will find in this report:
Production is the total amount produced by the practice for the reporting period. It is anything that causes the patient to owe you money. The detail for this figure can be verified in Matrix > Transactions/Audit Trail > Production for the same reporting period.
[+]Contract Adjustment is made within the contract worksheet window and increases the total amount of the contract. The detail for this figure can be verified in Matrix > Transactions/Audit Trail > [+] Contract Adj for the same reporting period.
[-]Contract Adjustment is made within the contract worksheet window and decreases the total amount of the contract. The detail for this figure can be verified in Matrix > Transactions/Audit Trail > [-] Contract Adj for the same reporting period.
Net Production is the amount of money the practice expects to receive actual payment for. Tops displays a Net Production column. This Net Production figure is calculated by taking the gross production, adding in the positive contract adjustments, and subtracting the negative contract adjustments. The only number that is not included in this Net Production figure is the Negative Account Adjustments.
Some practices do not want this number to be included in their Net Production figures, so if it is the protocol of your practice to include the negative account adjustments into your Net Production totals, you will need to subtract this figure from the Net Production totals.
Fees are the total amount charged by the practice. The detail for this figure can be verified in Matrix > Transactions/Audit Trail > Fees for the same reporting period.
Collections are the total amount of payments received by the practice for the reporting period. The detail for this figure can be verified in Matrix > Transactions/Audit Trail > Payments for the same reporting period.
[+]Adjustments are transactions made through the New Transaction Window that indicate that no funds were collected (Returned Check, Refund). The detail for this figure can be verified in Matrix > Transactions/Audit Trail > [+] Account Adj for the same reporting period.
[-]Adjustments are transactions made through the New Transaction Window that indicate you are not expecting to collect this amount (Sibling Discount, Courtesy Discount). The detail for this figure can be verified in Matrix > Transactions/Audit Trail > [+] Account Adj for the same reporting period.