How to Finalize a Period

Finalizing a period is a process where all claims are processed and CareVision and Services Australia data has been reconciled, after which the period is locked and ready for funding source generation and rollovers.

This topic describes how to finalize a period after processing claims and reconciliation.

Keywords: finalize period, claims processing, statement period management, assign claims to period, claims reconciliation, funding source rollover, carevision claims, services australia reconciliation, generate funding sources, period closing process

Steps:

1. In the Claims Management Dashboard review all claims and check that their status is Processing before finalizing.

2. Click Finalize on each claim once it has been checked and all items have been reconciled.

3. Confirm by clicking Yes.

4. Click Assign to Period and assign the claim to the correct period.

5. In the Choose a Period dropdown, select the period the claim belongs to. You cannot add claims to a closed period. Each claim can only be added to one period.

6. Click Save.

7. Go to the Statement Periods Management Dashboard and locate the period you are closing. Under Actions click the three dots.

8. Select Finalize Period.

Once successful, the status of the period will be set to Closed. 

After finalizing the period you can proceed to roll over funding sources and generate funding sources for the next quarter. See article: How to Roll Over Funding Sources for a New Quarter.

This topic explained how to finalize a period after CareVision and Services Australia data has been reconciled, and how this prepares the system for creating funding sources. For more information about Claims Management, contact the CareVision Support Team.

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