Residential Funding

 

Residential Funding | VCare International

Residents admitted to a residential care facility (rest home or hospital) often have a variety of funding sources. They can receive funding from different organisations, including government and local body agencies and/or family sources. Global templates are used to record the standard funding sources and the amounts. For example, in VCare™, templates can be set up for the single person’s pension, a fully funded rest home resident etc.

Prices for residential care are set for each contract and depend on the level of care the resident is receiving. An additional room premium can be added for each bed type (e.g. an additional charge for an en-suite room etc.)

When the resident is admitted, their various funding sources and the amount of funding are recorded within VCare™. Staff can select from the templates or add funding details specific to that resident. VCare™ will ensure that each resident has sufficient funding to cover the cost of their care and any additional room premiums. Management screens are provided to allow those residents with incomplete funding to be easily located.

The invoicing functionality uses these funding details to produce invoices both to the resident and to governmental agencies or other funding streams. The debtors ledger is then used to receipt payments for these invoices. A Proposed Payment Schedule (PPS) screen is provided to allow administrative staff to match the details recorded in VCare™ against the PPS received. Once the PPS details are confirmed VCare™ will automatically generate invoices to the District Health Board with matching receipts.

Price changes can be entered for future changes or retrospectively. VCare™ will automatically issue credits for bed days already invoiced after or prior to entering a price change, and then issues new invoices at the revised rates. If the funding templates are also updated, VCare™ will update all residents with the new funding amounts, leaving the staff to update only those residents with individualised funding.

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