Placing Claims on Hold and Advancing Payment Schedules in Collection-Master
We’ve been closely monitoring how the COVID-19 virus has been impacting our clients and community. Vertican would like to offer some relief to issues the pandemic may have caused to your business.
This Collection-Master Town Hall, Placing Claims on Hold and Advancing Payment Schedules, was presented by Joe Woodward, Team Lead of Client Services for Collection-Master. It covered the following:
In Collection-Master 9.1D.012, a new feature has been added as part of Veritcan’s Stimulus package. The new feature is for existing consumer payment schedules and facilitates the following:
Push Payment Due Dates Ahead in Bulk
Payment Schedule Diary Dates may be “bumped” ahead X number of days.
The new feature facilitates providing the consumer with a grace period due to the Coronavirus.
Payment Schedule Diary Dates may be “bumped” back
Backward bumps are typically done to correct a bump forward mistake.
Payment Schedules may be pushed ahead on a claim-by-claim basis.
There is a new Payment Schedule Bump icon on the Payment Schedule Screen toolbar.
Forbearance on Payment Schedules with Payment Calculator
Payment Schedules may be pushed ahead in bulk using a new Smart Document Formula function.
New Security Policies to Place Claims on Hold
In 9.1D.012, we’ve added new policies to place claims on hold due to COVID-19 in Collection-Master.
Set the policy by user or user group.
Add a +COVID-19 Tag to the claim to have the policy affect the claim.
An additional +HOLD Tag has been established for future use to place claims on hold with these policies.
Tags are easy to add to individual files or in bulk.
One policy will do the following:
Block access to review the claim in the Paperless File.
Block Payments from posting.
Block cost disbursements.
Block documents from merging.
Another policy will do the following:
Warn on entry in the Paperless File the claim is on hold.
Warn when posting payments that the claim is on hold.
Warn when cutting cost checks that the claim is on hold.
When the pandemic is over, simply turn off the policy to release the COVID-19 hold.
Did you attend our Collection-Master Town Hall? Let us know your thoughts in the comments section below.
Access the presentation here and view the recording of Town Hall here.
We will continue to monitor the situation and offer assistance to our clients whenever possible. Stay tuned for more information on our Stimulus Package. Vertican considers our clients to be partners and realizes that now, more than ever, we need to work together through this complicated time.