MAKING FINANCIAL ARRANGEMENTS WITH PATIENTS

How financial arrangement are made with your patients is a very important part of actually being able to deliver the treatment plan/s you are recommending and the future production and income of your office.



It is the responsibility of the Accounts Manager to sit down with the patient and work out the best financial arrangement within the framework of the policies that exist within your office. The ideal plan would be the one that facilitates the most immediate payment/s. Do not offer a plan that stretches payments out over a long period of time unless there is no other option that the patient could afford.



The following procedure outlines how the Doctor an Accounts Manager can work together to enable patients to obtain their needed services.



1. After presenting the treatment plan and recommendations, the Doctor may briefly outline general payment options, but should defer to the Accounts Manager to actually sit down and make the specific financial arrangements.



2. The Doctor would then inform the patient that the Accounts Manager will get with them and work out the financial side of the treatment recommended.



3. The Doctor then leaves the room and quickly acquaints the Accounts Manager with the treatment plan recommended, including how soon the first appointment, or several appointments, should be; how much time he/she will need scheduled for the appointment/s; and, if needed, discuss the total fee for the services the patient needs.



4. The Accounts manager would then meet with the patient privately in his/her office to make the financial arrangements. They should begin by scheduling the first appointment and then introduce the subject of finances. A good approach is, "Did the Doctor discuss the fee for this service?".



5. The Accounts manager then works out the best financial arrangement, as noted above: a) within the framework of the office’s policies and b) one that produces the most immediate cash flow without stretching payments out over a long period of time unless there is no other option. If a payment plan of more than a few months is needed, be sure to check the patient’s creditworthiness before finalizing any such agreement.



6. Once the Accounts Manager and patient have worked out the payment plan, the financial agreement should be summarized in writing with exact dates and amounts to be paid. The patient should then sign this document and receive a copy of it.



7. Send a letter to the patient after the meeting, congratulating them for proceeding with the service, briefly outlining the financial arrangements made, and telling them to contact you if they need any assistance.



If you follow this general procedure you will find that your collection rate will be high and you will have very little trouble collecting payment for services rendered.





Author Bio :

Jaff alvo is an experienced author, who has written articles on various health and financial subject. Please view my link on Silkin Management Group and Silkin Management Group.