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Patient Payments Blog

InfoGraphic: When Should You Offer The Payment Plan?

Posted by Jim Turner

Oct 4, 2018 8:17:00 AM

I recently had a very interesting meeting with a physical therapy office. We were discussing payment plans. Specifically, when the practice could implement one.

It seems that physical therapists, at least at the start of treatment, have a very difficult time determining how much treatment the patient will need, how long it will take, and how much it will cost. There are too many unknowns at the start to accurately estimate what the patient will owe.

 

This is true for many specialties but not for all. It started me thinking. What are the options for practices to set up treatment plans as early in the patient relationship as possible? The infographic below is intended to help with that decision.

 

Please note, the practice I visited was simply getting a signed copy of an agreement to pay at a certain rate on certain dates. They had no real way to hold the patient accountable to that agreement. To truly make payment plans stick, they should be automated. And that takes technology. If you don’t have a way to set payment plans that happen automatically I encourage you to find one that best suits your office.

decision tool for payment plan timing

Topics: Payments, Patient Payment Technology, Patient Payment Policies

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