Medicare Advance loan

How to Account for a Medicare Pre-Payment

by: Christine Schneider, Vice President

Do you have questions about how to account for a Medicare pre-payment? Read below for some helpful tips.

Create a Medicare Invoice

The best way to account for the Medicare pre-payment in RevolutionEHR is to create a Medicare invoice (inside of a dummy patient) and apply that payment to the invoice to generate an invoice credit.

Illustration of Creating a Medicare Invoice

Process EOB as Normal, But Apply Same Total as a Negative Amount to the Credit Invoice.

As Medicare begins its recoupment process, you will process your EOB like normal, then apply the same total as a negative amount to the credit invoice. This will account for the “who” and “what” inside of the payment and also in your accounting records.

Second Medicare image

Third Medicare image