You can easily add a Patient Payment Plan if a patient wants to pay over a period instead of a one-time payment. This guide explains how to configure split payments for a patient.
Watch this resourceful video for a comprehensive walkthrough.
To get started, select one of the following touchpoints and complete the steps below:
Left-click the appointment tile on the Diary.
- On the appointment slide-out that appears, select the Financial tab.
- Click + Create Payment Plan.
Or,
- Select the patient using the Global Patient Search Bar.
- Navigate to Billing > select Payments.
- On the Add New Payment/Adj. (Adjustment) tab, click Create Payment Plan.
- This will open the Create Payment Plan slider. You will need to fill in all the required information for the Payment Plan.
- Select the Procedure Codes and click Proceed.
Enter the following Payment Plan Details.
- Patient Name: Enter the patient's First name and surname here.
- Payment Plan Name: Assign an easily identifiable name for this Payment Plan.
- Plan Type: Select the type of the plan.
- Location: Location of the payment plan.
- Total Amount: The total payable amount including interest.
- Down Payment: Initial Payment amount required to pay before the schedule.
- Financed Amount: This will be the sum of the Financed Amount and the APR Amount. It is this amount that will be split into monthly payments.
- APR (%): Enter an APR (Annual Percentage rate) that should be calculated into the Financed Amount (this is optional).
- Contracted Amount: This will be the sum of the Financed Amount and the APR Amount. It is this amount that will be split into monthly payments.
- Number of Payments: The amount of installments.
- Periodic Pay. Amt: Calculated by dividing the Financed Amount by the Number of Payments.
- Payment Frequency: The billing interval such as weekly, monthly, quarterly, etc.
- First Periodic Pmt Date: The date when the first instalment starts.
- Add Credits As: Choose where the credits should be posted.
- Payment Type: The method of payment such as Cash, Credit/Debit Card, Check, or Direct Transfer.
- Click View and Sign Agreement. Click here to learn how to 'Set up a Payment Plan Agreement'.
- This will take you to View & Sign Agreement where you can review the plan's details.
- To continue with the Payment Plan, click on the Add Signature button at the bottom right of the agreement.
- A Draw Signature window will open where the Patient can input their Signature using the mouse and click on the Save button.
- The patient's signature can now be seen under the plan details as shown. It will also be visible when the plan is pulled up in the patient's document centre.
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Once everything is in place click on the Save & Continue button.
- To print a copy of your agreement, click on the Print Agreement button.
- You will now be taken to the payments page where you will be shown the Down Payment Amount, click on the Add Receipt & Complete button.
- A toast notification will appear on the top right stating, 'Payment plan created successfully'.
Using these simple steps, you can easily create a new payment plan in CareStack.