Axxess Hospice now enables users to enter a sequestration rate in each Medicare payer’s setup. The sequestration rate entered in a Medicare payer’s setup will be used to automatically calculate sequestration at the time of revenue generation.
This enhancement streamlines operations and ensures accurate financial reporting so organizations can make exact revenue projections.
To enter a Medicare payer’s sequestration rate, users must have permission to view and edit insurance payers in Axxess Hospice.
To give a user permission to view and edit insurance payers, edit the user’s profile and navigate to the Permissions tab. In the Administration section, select View and Edit next to the Insurance/Payers and Authorizations permission. Click Save to finish granting the permissions to the user.
People tab ➜ People Center ➜ Edit ➜ Permissions tab ➜ Administration section ➜ Insurance/Payers and Authorizations ➜ View/Edit ➜ Save
To add or update a payer’s sequestration rate, navigate to the lists menu ( ) and select Insurance/Payers. Locate the appropriate insurance/payer and select Edit under Actions.
On the Edit Medicare screen, navigate to the Sequestration section and click Add Rate to add a sequestration rate. Enter the sequestration percentage and effective date. The end date can be left blank if unknown. Once the information has been entered, click Save to save the rate.
To view the sequestration percentage, effective date or end date for a past sequestration rate, select Show History.
Sequestration amounts will be calculated at the time of revenue generation. This will reduce accounts receivable and be accounted for in general ledger accounts, as well as flow to the General Ledger Report and Payment and Adjustment Activity Report.
Updated on 02/08/2023