Periodic Payment Plans
Some offices offer their patients/clients periodic payment plans whereby they pay a defined amount each month or each year, and then do not pay for specific treatments. Some offices also cap these plans so that their patients/clients cannot exceed a certain threshold for the services they receive. This article describes how to configure Capable 21C to support this kind of business process.
The fundamental challenge with payment plans is insurance billing. Insurers typically do not recognize payment plans, and opt to re-imburse patients/clients/offices for services rendered. To enable this kind of insurance claiming, Capable 21C processes periodic payment plans in the following manner:
At prescribed intervals the patient/client makes a payment.
Capable 21C records the payment and also specifies
When the next payment is due
How much credit exists on the patient/client file
How much each visit will be charged at (based on estimates provided by the office).
As the visits occur, Capable 21C can produce receipts for those services at the nominated rate.
If the credit is completely consumed before the next payment is due, Capable 21C can continue to produce receipts at a $0 fee.
The last receipt that is produced before the credit is consumed will show an odd amount if the nominated fee does not divide equally into the payment amount.
As the next payment falls due, Capable 21C will prompt the operator that the payment is due.
The general appearance of the Receipt window will be slightly different for patients/clients on payment plans.
To configure Capable 21C to support payment plans, very little needs to be done. However, there is a training burden for staff who will be using Capable 21C.
To enable a periodic payment plan for a patient/client:
Go to Patient/Client details.
Go to the payments tab.
Tick the checkbox that indicates that the patient/client pays periodic amounts.
Specify the period (eg months or years).
Enter the date that the next payment is due, and when the last periodic payment was made.
Click Save and Exit.
Staff should be trained in the noticeable changes to the receipting window.
When receipting a patient who is on a periodic payment plan, the receipt window will look slightly different:
Note the highlighted sections in Red.
To invoice/receipt the patient/client, follow the normal procedure, but be sure not to receipt a payment unless a payment has been made.
To process a periodic payment for the patient/client, start the receipt normally, and enter the amount of the payment normally. Before saving the receipt, click the ‘Prepayment’ button. The only significant change will be that the text in Red will change to reflect the date that the next periodic payment is due. Capable 21C will calculate the next due date as being exactly one period from today’s date (eg one month from today or one year from today). Save (and print) the invoice/receipt as per normal.
No further action or training is required.
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