Features of the Resident Fund Management Service

1. Features of the Resident Fund Management Service By Mark Sanfacon

2. A Virginia Tech alumnus, Mark Sanfacon leads National Datacare Corporation as its chief executive officer. Mark Sanfacon oversees the company’s service to the more than 6,000 nursing homes that rely on National Datacare for patient financial account management. Focused on offering quality products that cater to the long-term care market, National Datacare created the Resident Fund Management Service (RFMS). The following are some features of the full-service solution. Introduction

3. 1. Ease of payment . RFMS allows nursing home residents to set up direct debits to automatically pay for facility services. This eliminates the manual process of writing and mailing checks and simplifies billing. 2. A reporting system that helps maintain regulatory compliance. RFMS runs statements every day a transaction is made. Detailed reports are available for an array of situations, from providing Asset Notification letters to issuing state-specific reports for Medicaid recertification. Resident Fund Management Service

4. 3. Separation of resident and institutional funds. The automated care cost payments feature splits recurring income payments for each resident. Funds required to pay medical fees are transferred from each resident’s account when direct deposits of recurring income checks are received. These funds are automatically forwarded to a facility operating account thereby simplifying collections and ensuring timely payment. The resident allowance stays in the individual account for personal use. Conclusion