What Is Financial Accounting Entity?

You are here: Financial > Financial Accounting Entity > What Is Financial Accounting Entity?

A financial accounting entity is defined as any of the following types of payee/payers: Provider, Third Party Liability (TPL) Carrier, Member, TPL Employer, Attorney, Trading Partner, etc.

The changing aspects of health care industry have caused ND MMIS to reimburse members or refund carriers when required. To facilitate this, information about the payee/payer and recoupment rules are established.

Adding or updating information in the financial accounting entity area requires an accounting transaction request from a State department.

Providers, carriers, and members are automatically added as a financial entity. Providers and carriers are set up by ND MMIS during the enrollment process. Members are set up by entering their Medicaid ID and ND MMIS automatically populates the financial accounting entity using the member's information that is already stored in member portion of ND MMIS.

Default recoupment rules are used to populate the recoupment information. This information can be overridden during the establishment of the recoupment to allow for uniqueness of each recoupment case.

You use the financial accounting entity to update the default recoupment and electronic fund transfer (EFT) information for any entity within ND MMIS.

To facilitate electronic transfer of funds, banking information can be entered for the entity. This information is used during the claims payment and reporting cycle.

The contact information that appears in the financial accounting entity is maintained within each of the payee's respective area. For example, member information is maintained by Member Maintenance. Provider contact information is maintained by Provider Maintenance, including any bankruptcy information that is displayed by the financial accounting entity area.

Instructions

Field Descriptions