Payment Plan Agreement Template for Medical Office

Sometimes it helps to set up a payment plan for your services with your patients. Here`s a handy tool to get you started, and here are some additional guides from George Conomikes of Conomikes Associates.Download the form here as a Word document and here as a PDF file. “Fast salary remittances can accelerate cash flow and reduce downstream recovery costs even further than a payment plan,” Clubb said. Brian Clubb, senior director of product management at Emdeon, said the ability to secure a payment at the point of service or within the first 30 days of the billing cycle is crucial and automatic payment plan tools are a great option. Another trend he observes is to offer a “quick payment discount” to patients who fully secure payments. Bill Marvin, president and CEO of InstaMed, said a good payment plan allows the doctor to securely collect and store the patient`s payment information and then automate scheduled payments based on the patient`s budget and the doctor`s settings. “Email notifications should also be automated to remind patients of any upcoming payments,” Marvin told Physicians Practice. “This method makes payment less burdensome for patients, but it adds to the doctor`s administrative work,” Marvin said. “In addition, it still does not guarantee the payment of the doctor. Whether doctors set up the payment schedule while the patient is in the office or after the invoice is sent, doctors need to securely collect payment information to automatically collect payments when they are due.

That said, “one of the most important points I would watch out for in a payment plan is `automation,`” Clubb said, noting that there is technology that eliminates the need to write card and bank account information on paper and store it in a file for future use. However, many doctors still support payment plans by managing a schedule indicating when each payment is due and calling patients to manually collect each payment each month. Here`s a simple form to download and use in your doctor`s office to set up a payment plan with patients. This raises a question for doctors` offices: what makes a good payment plan? Whether it`s because their insurance covers less than before or they can`t afford the insurance in the first place, many patients can`t pay a medical bill as a lump sum at any given time. It is not surprising that today more and more patients have payment plans, not only in hospitals, but also in doctors` offices. I say this from experience after being signed up for several payment plans. A local hospital`s plan is excellent – every month a certain amount is deducted from my bank account, and I have the option to reduce or increase that amount at any time. But other practices I work with aren`t as effective: on the one hand, I had to negotiate them verbally against what they originally wanted, sign a payment form and send it back, and then don`t forget to write and send a check every month. Click here to read the article originally published by Physicians Practice. .

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