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Payment Plan FAQs


Contents

  1. 1 What standard operating procedures (SOPs) should my practice have in place to effectively implement payment plans?
  2. 2 Can I still create a payment plan if I do not have any or the appropriate charges on file for the patient?
  3. 3 In step two of the creation process (Set Payment Plan Installments) must I use the “Generate Installments” criteria on the left hand side?
  4. 4 Do I have to Save in the Payment Plans tab & the Manage Account tab?
  5. 5 When editing payment plans what’s the difference between “Regenerate” and “Add” installments?
  6. 6 I don’t see paid or deleted payment plans, is there a way I can see these?
  7. 7 What should I do if I need to edit/remove an installment with payments?
  8. 8 How do I know which items are related to payment plans from the Patient Activity?
  9. 9 Are there any prices associated with the new patient statement options?
  10. 10 Will charges on the payment plan show on the statement? And if not, why?
  11. 11 For a payment plan statement to print does the Patient Type need to be “Payment Plan” or do they just need an active payment plan?
  12. 12 Will patients ever receive regular statements (when status is Balance due Patient) AND a payment plan statements?
  13. 13 Why are my payment plans in a different order than the last time I posted a payment?
  14. 14 What will the Apply Remaining button do when posting patient payments?
  15. 15 When manually posting a patient payment to a payment plan what is the difference between Apply Credit to Charges and Apply Automatically?
  16. 16 The payment plan does not have any charges on it, but I’ve made payments. Where is this money going in the system so I can use it later?
  17. 17 Does the Due Patient amount include Payment Plan Balance?
  18. 18 Can I find Payment Plan Credits under the Manage Credits tab?
  19. 19 If the payment plan does not have associated charges, where is the money going when applied?
  20. 20 What do I do if I deleted the wrong payment plan? Can I undelete a payment plan?
  21. 21 If a patient doesn't pay their payment plan, what should I do?
  22. 22 I set up a payment plan but our office policy is to automatically debit the card on file, how can I do that using CollaborateMD?

What standard operating procedures (SOPs) should my practice have in place to effectively implement payment plans?

It is recommended that the practice/office setup the following standard operating procedures based on personnel, current procedures, and preferences. Please note, this is only a recommended list and may not apply to every practice/office:

  • Eligibility Criteria: Define the types of patients (e.g., those with high deductibles) and/or procedures (e.g., those not covered by most insurance payers) that are eligible for a payment plan.

  • Administrative Fees: Determine if patients will incur any administrative fees opting into a payment plan.

  • Multiple Plans: Determine if patients may have multiple payment plans on file.

  • Plan Options: Define plan limitations, such as, payments must be made at least monthly, each payment must be a minimum of $10.00, payment plans cannot exceed one year in length, etc.

  • Patient Agreements: It is highly recommended that patients that opt in to a payment plan sign an agreement with the office. Please feel free to reference and/or use the Payment Plan Agreement form offered by CollaborateMD.

  • Payment Options: Determine the types of acceptable payments for payment plans.

  • Payment Plan Statements: Determine which type of statement the office will use and configure messages for patients. Note: Automated and Enhanced User Print statements may incur additional fees on your account with CollaborateMD.

  • Late Payments: Determine if there will be penalties for late payments. If needed, create a debit code to be used for this purpose.

  • Non-payment: Determine if there will be penalties for non-payments and/or if payment plan balances will be sent to collections and if so, when. Please reference the steps below for detailed steps on setting balances to collections.


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Can I still create a payment plan if I do not have any or the appropriate charges on file for the patient?

Yes, payment plans can still be created without associating any charges. You do not have to add charges to the payment plan in order to create and save the plan. In step one of the creation process, simply uncheck the Set to charges total box to manually enter the total amount to be paid on the plan.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

In step two of the creation process (Set Payment Plan Installments) must I use the “Generate Installments” criteria on the left hand side?

Yes. However, installments may be manually edited, added, or removed after the criteria is entered and installments are generated.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Do I have to Save in the Payment Plans tab & the Manage Account tab?

No. The Payment Plans tab is saved when clicking the Save button just under that tab. There is no need to select the additional Save button under the main Manage Account tab, unless changes have been made in any other tab. Note: There is a separate permission for Payment Plans.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

When editing payment plans what’s the difference between “Regenerate” and “Add” installments?

Regenerate will allow you to edit all installments at one time, while the Add option is reserved for making edits to a single or a few installments, such as when splitting an installment between two due dates. This is sometimes known as “Split Payments”.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

I don’t see paid or deleted payment plans, is there a way I can see these?

Yes. Using the available filter options under the Payment Plan tab you can choose to see payment plans that have been fully “paid” and/or those that have been deleted. Note: There is absolutely no way for deleted payment plans to be undeleted.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

What should I do if I need to edit/remove an installment with payments?

In this instance the payment will need to be deleted and posted again after edits to the installment are made. Follow the instructions below to complete these actions:

  1. Go to the Payments section > Manage Account tab

  2. Find or Open the patient

  3. Locate and select the payment in the Charges, Debits, & Credits tab

  4. Select the box to Delete transaction

  5. Click Save

  6. Reopen the patient and go to the Payment Plans tab to Edit the payment plan installment

  7. Go back to the Manage Account tab and undelete the payment


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

How do I know which items are related to payment plans from the Patient Activity?

  • Payments: Payments posted towards payment plan installments or charges will have a check mark in the Payment Plan? Column.

  • Credits: Payment Plan Credits will appear in a new Pymt Plan due to row.

  • Statements: Statements printed for payment plan installments will have a check mark in the Payment Plan? Column.

  • Summary Balances: All tables under Balance Breakdown and Aging Balance Summary have been updated to include information related to patient payment plans.

Are there any prices associated with the new patient statement options?

Yes. Automated statements will continue to be $0.77 per statement/per month and Enhanced User Print statements will continue to be $0.25 per patient/per month. There are no fees associated with Plain Text User Print statements other than in-office costs.


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Will charges on the payment plan show on the statement? And if not, why?

No. Only installments will display on any of the statement options available for patient statements. Since charges are not needed to use the payment plan feature and payments are made towards installments (and can be applied to charges at any time), charges are not included on the statement for patients. To see a detailed list of charges on a particular payment plan users should go to Manage Account > Payment Plans and review the associated charges.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

For a payment plan statement to print does the Patient Type need to be “Payment Plan” or do they just need an active payment plan?

For Plain Text User Print statements, the patient can either have a Patient Type of “Payment Planand/or have an active payment plan on file. For all other statement types (i.e., Automated and Enhanced User Print) the patient must have an active payment plan on file.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Will patients ever receive regular statements (when status is Balance due Patient) AND a payment plan statements?

Yes. If the patient has charges set to the status of Balance due Patient AND an active payment plan on file s/he can receive multiple statements depending on the office workflow. Meaning, the patient will receive a regular statement for the charges in the Balance due Patient status and a separate statement for the active payment plan. Note: Due patient balances and installment balances will never appear on the same statement.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Why are my payment plans in a different order than the last time I posted a payment?

When a patient has multiple active payment plans, the order of the payment plans will display based on the next installment due date. If two or more payment plans have the same due date the system will display the next installment due date for the plan created first.


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

What will the Apply Remaining button do when posting patient payments?

The Apply Remaining option will auto-apply payments across multiple payment plans or charges on a single payment plan.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

When manually posting a patient payment to a payment plan what is the difference between Apply Credit to Charges and Apply Automatically?

The use of either option will automatically distribute payment across charges on file for the payment plan.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

The payment plan does not have any charges on it, but I’ve made payments. Where is this money going in the system so I can use it later?

Payments made to a payment plan installments (i.e., not made to charges on a payment plan) will be saved as Payment Plan Credits. These credits can be accessed for posting either by using the Apply Payment Plan Credit option or in the Manage Account tab by Applying the Credit.


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Does the Due Patient amount include Payment Plan Balance?

No. We have split the balances for normal charges (Due Patient) and payment plans (Pymt Plan) for easy viewing on the Patient Dashboard. You can see both balances (if applicable) at a glance on the patient’s account. This also allows for separate reporting options to customize reports, as needed.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

Can I find Payment Plan Credits under the Manage Credits tab?

No, the Manage Credits tab is reserved for due patient or due insurance credits and will not include payment plan credits.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

If the payment plan does not have associated charges, where is the money going when applied?

In cases where payment is only applied to installments, the payment is being held in a Pymt Plan Credit box to be applied to charges at a later time.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

What do I do if I deleted the wrong payment plan? Can I undelete a payment plan?

Payment plans can never be un-deleted, under any circumstances. In the event you deleted a payment plan and need to re-create it, please follow these steps:

  1. Go to the Payment section

  2. Go to the Manage Account tab

  3. Search for and open the appropriate patient

  4. Go to the Payment Plans tab

  5. Choose the filter option to “Show Deleted

  6. Locate and expand the payment plan in question to view installments. Note: Charges and payments that were associated to the plan prior to deletion will no longer appear.

  7. Select the Add Payment Plan button to re-create the payment plan as desired.


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

If a patient doesn't pay their payment plan, what should I do?

In most offices, this means sending the patient’s balance to a collection agency to acquire the due amount(s) on the office’s behalf. You may also change the status of the balance in CollaborateMD to “Collections” using one of the two options below:


  • The payment plan has associated charges to be paid

    1. Go to the Payment section

    2. Go to the Manage Account tab and search for and open the desired patient

    3. Under the Charges, Payments, and Credits tab locate the appropriate charges

    4. Use the Status drop down to select “Collection” on all applicable charges

    5. Click Save once satisfied

  • The payment plan does not have associated charges to be paid

    1. If you have not already, create a debit code

    2. Go to the Payment section

    3. Go to the Manage Account tab and search for and open the desired patient

    4. At the top of the page, select the Debit Account button

    5. Populate the pop up with your debit code and the amount of unpaid payment plan balance

    6. Click Save

    7. Click Save in the upper left-hand corner of the screen to save your changes

  • These balances can now be found on either the Patients at Collections or Charges at Collections reports.


https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2

I set up a payment plan but our office policy is to automatically debit the card on file, how can I do that using CollaborateMD?

CollaborateMD does not currently offer this feature, however, if your office is using the Integrated Payment Processor (IPP) feature, TSYS offers an auto-debit option on their Transaction Express website. Please contact our Sales department for more information about this product. If you do not use the IPP feature and would like to see this feature in the CollaborateMD application, please submit an IdeaExchange request.

https://sites.google.com/a/collaboratemd.com/training/helppages/payment/9-2