Payment Plans
Allow patients to make arrangements to pay off high balances over a period of time by placing them on a payment plan. Putting a patient on a payment plan may significantly increase the chance that a bill is paid, due to the simplicity of charging the agreed upon amount each period until the balance is paid.

In most cases, payment plans can be offered to patients that have high deductibles, self-pay patients that cannot pay at the time of service, or patients that are unable to pay their co-insurance amount after the payer has processed the claim.

After arrangements are made, you can easily allow patients to make payments online through our Patient Payment Portal. Through the portal, patients can conveniently make payments towards their plan which can save staff time following up on payment arrangements and manually processing payments.


The following help pages are supported by the current version of CollaborateMD. Please follow the curriculum outline to receive the proper training associated with this section.


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The Payment Plans tab allows users, who have the Payment Plan permission to create, modify, and track patients Payment Plans.

For more information related to setting permissions, please refer to the Admin Help Pages.

Best Practices

  1. Create a Standard Operating Procedure (SOP) that outlines how to manage Payment Plans for your practice. Be sure to include information such as what type of patients/balances qualify for a payment plan (e.g., balances greater than $500.00), who the payment plan has to be approved by (e.g., must be approved and signed by Office Manager), forms that need to be completed and where they’re saved (e.g., Credit Card Authorization forms, uploaded to patient’s record via CMD), as well as step by step instructions on how to create the payment plan in the application (feel free to use this Help Page as a resource when creating your SOPs).

  2. For reporting purposes, update the account Type for the patient to “Payment Plan” or “Payment Plan Collection”.

  3. Have an agreement in place with your patient. CollaborateMD offers customizable form-based superbills, which can be created for payment plan agreement letters. Download and customize our sample Payment Plan Agreement form. This form can be uploaded to CollaborateMD as a Form Based Superbill so that you can easily print it from the application.

  4. Set up statements for patients with payment plans using any one of CollaborateMD’s statement options. Having statements in place will ensure an easy transition for staff to focus on collecting payment plan balances. Click here to learn more about the statement options.

  5. Manage payment plans using CollaborateMD’s new Dashboard gadget called Payment Plan Balances. This gadget can be added to your dashboard and shared between necessary staff members. Click here to learn more about adding this gadget.

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

Create the Payment Plan

Follow the instructions below to create a new payment plan for the patient:

  1. Go to the Payment section > Manage Account tab.

  2. Click the Find or Open <Patient> button to search for and open your desired patient.

  3. Go to the Payment Plans tab.

  4. Click the Add Payment Plan button.

Step 1: Set what this Payment Plan Covers

First, you will need to specify the total amount of the payment plan. This can be accomplished in two ways, either by defining the specific amount, or adding charges that should be paid through a payment plan.

Option 1: Manually Specify the Total Plan Amount

Specify the total amount of the payment plan, without associating patient charges. This option is commonly used for procedures that must be paid upfront.

  1. Uncheck the Set to charge total box and enter your desired total plan amount.

  2. Click the Next button.

Option 2: Manually Associate Charges or Debits

Associate charges or debits to the payment plan to allow the system to automatically calculate the total of the charges for the plan. This option is commonly used for procedures that have already been rendered or account debits that have already been added to the patient’s account.

  1. Click the Add Charges button.

  2. The Add Charges window will show all charges on the patient’s account, check the box within the Add column next to the charge(s) you wish to add toward the payment plan.

  1. Once satisfied with your selections, click the Add Selected Charges button.

  2. Once you're satisfied with your charge selections, click the Next button.

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

Step 2: Set the Payment Plan Installments

Next you will need to set up the installments, due dates and the amount due for each installment. After generating installments, you can manually edit, add, or delete installments as necessary.

Auto-Generate Installments:

Auto-generate installments by selecting your desired options and following the steps below:

  1. Select your installment options:

    • Starting on: Select the due date of the first payment.

    • Receive payment every: Select the frequency of the payment due date.

      • Months: Every month on the same date you scheduled for the first payment.

      • Weeks: Every week on the same day of the week you scheduled for the first payment.

      • Days: Every day after the first date you scheduled the first payment.

    • Each installment will be: Enter the expected payment amount that will be due for each installment. Select this option for the system to automatically calculate the number of installments.

    • Payment plan ends: Select this option for the system to automatically calculate the amount of each installment based on when the payment plan should end. Select from one of the following options:

      • After # installment: Select this option to have the system automatically calculate the amount due based on the number of installments you enter.
      • On MM/DD/YY: Select this option to have the system automatically calculate the number of installments and amount due until the date you enter.

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If the options selected result in a total amount that goes over or under the total plan amount, the system will automatically distribute balances across installments. Please note this option can be disabled by unchecking the box.


  1. Click the Generate Installments button.

  2. The installment Amount, Due Date, & Description will appear and can be individually modified if needed.

  3. Once satisfied with your selections, click the Next button.

Manually Enter Installments (Optional):

Select this option to manually adjust an installment amount. For example, if a payment has to be collected to initiate a payment plan. Please note, adjustments made to installments must match the total plan amount.

Manually add installments by following the steps below:

  1. From Step 2 - Set Payment Plan Installments, click the Add button.

  2. Enter the installment Due Date and Amount due.

  3. Continue this step until you have entered all installment dates and amounts.

  4. If you wish to delete an installment, click the Delete button.

  5. Once satisfied with your selections, click the Next button.

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

Step 3: Review and Finalize the Payment Plan

In the last step, you will review the options selected in the first two steps. Additionally, this step allows you to make any final edits, including adding or removing charges and installments, modifying due dates, installment amounts, and descriptions.

  1. Review your payment plan details:

    1. Name: A default Payment Plan name will appear with the date of creation. Simply click on the default name to edit as desired.

    2. Description: Click the Description button to enter a description about this payment plan for you and your CollaborateMD users to reference.

    3. Regenerate: Click this button if you wish to modify all installments, due dates, or amounts. Optionally, click Add to insert a new installment and modify amount, due date, and description. Please note, adjustments made to installments must match the total plan amount.

    4. Delete: Click this button if you wish to remove an installment from the plan. Note: This will not modify the total plan amount, however the total installment amount will highlight in yellow if it does not match the overall plan amount.

  1. Add Charges: Click this button if you wish to add other charges to the payment plan. Note: This will not modify the installments or total plan amount.

  2. Remove Charges: Click this button if you wish to remove a charge from the payment plan. Note: This will not modify the installments or total plan amount.

  1. Once satisfied with your selections, click the Save button.


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

Posting Payments to Payment Plans

Create Patient Payment

 

Follow the instructions below to post a patient payment towards a payment plan.

  1. Go to the Payment section.

  2. Click the Payments tab and select the New Payment sub-tab.

  3. Select Patient Payment.

  4. Click the magnifying glass beside Payment By to search for the patient.

  5. Optional: Check the Print receipt box to print the patient a receipt.

  6. Enter the payment details (e.g., Amount, Date, etc.)

  7. Select the payment Type followed by the Source of the payment. Note: If the Credit Card Processing feature is enabled, complete one of the following options:

    • Option 1: Click on the “Swipe” button to swipe the patient’s credit card with the credit card reader.

    • Option 2: Place cursor in the “Card #” box and swipe the patient’s credit card reader.

    • Option 3: Manually enter the credit card number followed by the expiration date.

  8. Choose to apply the payment: Apply Automatically, Apply Manually.


Note: If the Credit Card Processing feature is used based on one of the options above, after applying the patient's payment in Step 8, CollaborateMD will send the payment for approval and collect a response from TSYS®. If the payment was successfully processed, you will receive a confirmation. If the payment was not successful you will receive an error message. Please refer to the Transaction Express Integration Guides for more information regarding error messages.

http://training.collaboratemd.com/helppages/payment

Apply Payment Automatically

Selecting this option will allow you to automatically distribute the payment towards payment plan installments.

  1. After the payment information has been entered, click the Apply Automatically button.

  2. When the drop-down menu is displayed, select the option to Apply to PAYMENT PLAN INSTALLMENTS starting with the oldest.

  3. If the Show a preview before applying option is selected, review the payment and click Save Payment once satisfied.

  4. If the payment will create a payment plan credit, a pop up will appear allowing users to select a Provider and Office location for the payment. Click Save.

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

Apply Payment Manually

Selecting this option will allow you to manually apply the patient payment towards specific payment plan installments and charges.

  1. After the payment information has been entered, click the Apply Manually button and select the option to Apply to Payment Plans.

  2. Initially, the next installment(s) will be shown. Choose from one of the options below to post the payment:

    1. Option A: Click the Apply Remaining button to apply the payment automatically to the nearest installment date(s).

  1. Option B: Enter the amount of payment to be applied to installments and click the Apply Credit to Charges button to apply the payment automatically to the charges on the payment plan, if applicable.

  1. Option C: Enter the amount of payment to be applied to installments and click the Apply Credit to Charges drop-down menu, followed by Apply Automatically to apply the payment automatically to the charges on the payment plan, if applicable.

  2. Option D: Enter the amount of payment to be applied to charges and click the Apply Credit to Charges drop-down menu, followed by Apply Manually to apply the payment directly to charges on the payment plan. Then enter the amount of payment per charge in the Apply Payment column.

  3. When you're satisfied with your changes, click the Save Payment button.

  4. If the payment will create a payment plan credit, a pop up will appear allowing users to select a Provider and Office location for the payment. Click Save.

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

Apply Payment Plan Credit

Selecting this option will allow you apply a previous payment made towards installments to charges on the payment plan.

Follow the instructions below to apply a payment plan credit towards a specific charge on a payment plan. Note: This transaction type can only be used when the plan has a payment plan credit.

  1. Go to the Payment section.

  2. Click on the Payments tab and select the New Payment sub-tab.

  3. Select Apply Payment Plan Credit.

  4. Click the Continue button.

  5. When the Patient Search window opens, search for the patient.

  6. If the selected patient has multiple payment plans on file, a pop up will appear allowing you to select the appropriate payment plan to apply credit towards and click Continue.

  1. Populate the amount of credit to be applied to specific charges in the Apply Credit column and optionally, take any additional actions necessary.

  2. Click Save Payment.


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

Find, Delete, Edit Payment Plan

In the event you need to reference or modify a payment plan this can be accomplished in the Manage Account section.

  1. Go to the Payment section > Manage Account tab.

  2. Click the Find or Open <Patient> button to search for and open your patient.

  1. Go to the Payment Plans tab.

  2. Choose from the following filter options, as needed. By default, paid and deleted payment plans are not shown.

    1. Show Paid: Check the box to see fully paid payment plans.

    2. Show Deleted: Check the box to see deleted. Note: Payment plans can never be undeleted.  

  3. Select the payment plan you would like to edit and click the Edit Payment Plan button to review your payment plan details.

  4. Any one of the following changes can be made:

    1. Payment Plan Name: Simply click on the name to edit the name as desired.

    2. Description: Click the Description button to enter a description about this payment plan for your CollaborateMD users to reference.

    3. Apply Account Credit: Click this button to apply an account credit towards outstanding installments and/or charges.

    4. Add Debit: Click this button to associate a debit charge to the payment plan, such as a late payment fee. Please note this will automatically create a new charge and installment, as well as automatically update the payment plan amount.

    5. Save: Click this button to save changes.

    6. Cancel: Click this button to cancel the changes made.

    7. Delete: Click this button if you wish to remove a payment plan from a patient’s account. When a payment plan is deleted all charges, debits, and payments are removed from it. The system will prompt another pop up asking if you would like to Permanently Delete the plan.

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Note: Once a payment plan is deleted it can never be undeleted.

    1. Add: Click this button to add new installments. This option should be used when modifying a particular installment, such as splitting a payment. The total amount of all installments must match the total payment plan amount.

    2. Regenerate: Click this button if you wish to modify all installments, due dates, and amounts. Note: This button will not be available once payments have been made towards the payment plan and/or a statement has been generated for the payment plan.

    3. Credit Adjustment: Click this button to make an internal adjustment to the amount of the installment, such as writing off the last installment for a patient in good standing.

    4. Delete: Click this button if you wish to remove an installment from the plan.  Please note this will not modify the total plan amount, however the total installment amount will highlight in yellow if it does not match the overall plan amount.  Note: Installments with payments cannot be deleted.

    5. Add Charges: Click this button if you wish to add other charges to the payment plan. Please note this will not modify the installments or total plan amount.

    6. Remove Charges: Click this button if you wish to remove a charge from the payment plan. Please note this will not modify the installments or total plan amount.

  1. Once you're satisfied with your selections, click the Save button.

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Installments with payments cannot be edited, except for the installment description and to apply a credit adjustment (for example, to write off a partial or full balance). If you must edit an installment that has already been fully or partially paid, complete one of the actions below:


Payment made to installments only:

  1. Under the Manage Account tab, find and select the desired patient

  2. Under the Charges, Payments, & Credits tab locate the Payment Plan Credits

  3. Select the credit associated with the installment you wish to edit

  4. Choose the Delete Transaction checkbox

  5. Click Save

Note: You must reopen the patient to make edits to the desired installment.


Payment made to associated charges:

  1. Under the Manage Account tab, find and select the desired patient

  2. Under the Charges, Payments, & Credits tab locate the charge

  3. Select the payment related to the charge on the payment plan

  4. Choose the Delete Transaction checkbox

  5. Click Save

Note: You must reopen the patient to make edits to the desired installment.


Important: Payments must be reentered, as necessary.



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

Print Installment Details

Once the payment plan has been saved you can print an installment details report for the patient defining the total amount of the plan, each installment due date, start amount, payments, and current balance. Follow the steps below to print an installment details report:

  1. Go to the Payment section > Manage Account tab.

  2. Click the Find or Open <Patient> button to search for and open your patient.

  1. Go to the Payment Plans tab.

  2. Choose from the following filter options, as needed. By default, paid and deleted payment plans are not shown.

    1. Show Paid: Check the box to see fully paid payment plans.

    2. Show Deleted: Check the box to see deleted. Note: Payment plans cannot be undeleted.

  1. Select the payment plan for which you would like to print the report and right-click

  2. Select Print Details to review and print the installments details.

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