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The Financial data model conveys when the patient owes something for a medication, lab, test, or other care (e.g., bed charges). The data model contains details about the product or service, as well as details like date, time, amounts, and participating organizations and persons. Healthcare organizations typically use the Financial data model for their billing process and internal cost allocation.

Almost all EHR systems support the Financial data model in order to facilitate financial transactions between the main EHR system, third-party systems producing charges, and any external billing systems. Typically, this is facilitated via a DFT HL7v2 interface or proprietary API.

The Financial data model differs from the Claim data model in that financial charges usually occur on the fly during a patient's care while claims are generally a summary of patient care that's sent or received after an admission or encounter is concluded. If you're looking to handle claims to send to payers, check out the Claim data model.