A payment plan is a payment method with a systematic timeline that allows a patient to pay the dues over time instead of a one-time payment. Let's see how to create a new payment plan and edit the plan and payment schedule according to our preferences.
Topics Covered
- Create a New Payment Plan
- View Payment Plans
- Edit Payment Plans & Payment Schedules
Let's get started!
Explore this video for an in-depth walkthrough.
Perform the steps below to create a new payment plan.
- Select a new patient using the Global Search Bar > hover over Billing > select Payments.
- Select the Add New Payment/Adj. or Payment Plans tab.
- Click + Create Payment Plan.
- You must select Procedure Codes to link them to the payment plan.
- You can proceed without selecting any codes.
- Only Completed Codes will be displayed here.
- Click Proceed.
Note: You can view the Balance of the selected procedure codes at the bottom left of the Create Payment Plan slide-out. |
- Enter the required Payment Plan Details.
- Patient Name: Patient's first name and surname will be pre-populated.
- Payment Plan Name: Assign an easily identifiable name for this payment plan.
- Plan Type: Select the type of plan.
- Location: Specify the location associated with the payment plan.
- Total Amount: Enter the total payable amount, including any interest.
- Down Payment: Enter the initial payment required before the schedule begins.
- Financed Amount: Enter the sum of the Financed Amount and APR amount. This will be split into monthly payments.
- APR (Annual Percentage Rate) %: Optional. Enter an APR to be calculated on the financed amount.
- Contracted Amount: The sum of the Financed amount and APR Amount. This is the total amount to be divided into monthly payments.
- Number of Payments: Enter the total number of instalments.
- Periodic Payment Amount: This is calculated by dividing the financed amount by the number of payments.
- Payment Frequency: Select the billing interval, such as weekly, monthly, or quarterly.
- First Periodic Payment Date: Enter the date when the first instalment is due.
- Add Credits As: Choose where the credits should be posted.
- Payment Type: Select the method of payment.
| Note: If CREDIT/DEBIT or CHECK is selected as the payment type and you are signed up with Stripe as a merchant processor, you can select the Enable Auto Debit option to enter the patient’s card or bank details. This will automatically process payments according to the payment plan schedule. |
- Click View and Sign Agreement.
- Review the information on the agreement.
- Click Add Signature to enter Responsible Party Signature.
Note: You can click Skip Signing & Proceed to continue without signing the form. To print the agreement after signing, click Print Agreement. |
If Auto Debit is disabled:
- Click Add Receipt & Complete.
- After this step, enter the card details to complete the down payment.
If Auto-Debit is enabled:
- Click Pay $ Via Stripe.
- After this step, enter the card details to complete the down payment.
Perform the steps below.
- On the Global Search Bar, select the Payment quick link for the intended patient.
- Click Payment Plans.
- Here you can see Active Payment Plans and Completed/Terminated Plans.
Watch this video for a step-by-step explanation.
To edit the payment schedule and payment plan details, perform the steps below.
- Click on the three dots beside the intended payment plan and click View Details.
To Link Treatment Codes:
- You can view all linked treatment codes in the 'Contracted Treatment Codes' section.
- Click Link Treatment Codes.
- Select the required codes.
- Click Proceed.
- To remove any linked codes, click Delink under the Contracted Treatment Codes section.
Edit Payment Schedule
Under the Payment Schedule, you can view the due dates and instalment amounts for each payment. You can also perform several actions to edit the Payment Schedule instalments. Let’s explore them.
1. Pay Now: Click this button to pay an upcoming instalment upfront.
- Users can make partial or split payments toward an instalment, allowing them to use multiple payment sources by entering the desired Payment Amount.
- Confirm the action by clicking Proceed.
2. Edit: Click this button to edit the Due Date and Instalment Amount of the selected instalment. When you update it, changes will be reflected in the other installments, and the amounts will vary.
- Choose if you need to Apply the Difference Amount to the Next Upcoming Instalment or across All remaining Instalments equally.
- You can view the updated amount in the Revised Instalment Amount column.
- Click Proceed.
3. Skip: Click this button to skip an instalment payment. The skipped instalment will be marked as '--'. The amount will be recouped by revising other instalments with increased dues.
- Choose if you need to Apply the Difference Amount to the Next Upcoming Instalment or across All remaining Instalments equally.
- You can view the updated amount in the Revised Instalment Amount column.
- Click Proceed.
4. Skip & Add: Click this button to skip an instalment and add another instalment towards the end of the schedule, while keeping the due amounts of the other instalments the same.
- Click Proceed to add a new instalment.
Retry Payment
- When an instalment fails due to some reason, the status will be displayed as Failed.
- Patients will receive an email to notify acknowledgement or failure of a payment applied to a Payment Plan.
- Users can email support.aus@carestack.com to have it enabled.
- Hover over the 'i' icon to see the Failure Reason and Status Change.
- To retry the payment, click Retry Payment.
- Verify the Due Date and Instalment Amount on the Add Receipt modal.
- Click Proceed.
Exempt Patient From Instalment
You can link an existing receipt to an instalment to mark it as paid. To do this, under the Payment Schedule:
- Click the three-dot menu.
- Click Link an Existing Receipt.
- Click Proceed on the warning modal.
Link an Existing Receipt
You can link an existing receipt to an installment to mark it as paid.
| Note: Multiple receipts can be linked to a single instalment, even if the individual amounts do not match the instalment total. If a linked receipt’s amount exceeds the instalment total, the remaining balance can be linked to future instalments. |
To do that:
- Under the Payment Schedule, click the three-dot menu.
- Click Link an Existing Receipt.
- Select the receipt to be linked to the instalment.
- Click Proceed.
Edit Payment Details & Edit Payment Plan
You can edit the payment type for the payment plan, such as card, cash, or check. To do this:
- Click Edit Payment Details on the Payment Plan slide-out.
- Select Payment Type.
- For Credit or Debit Cards, choose to Enable or Disable Auto-Debit.
- Click Update Payment Details to save.
- Once saved, you can view the last four digits of the Card Number in the Payment Details section if Auto-Debit is enabled.
- The securely protected and partially encrypted card number reveals only the last four digits, so you can easily identify which card is being tokenised for auto debit.
You can edit all the details that you have added during the creation of a payment plan. Those details are shown on the left side of the payment plan slide-out.
To edit the Payment Plan details:
- Click Edit Payment Plan on the Payment Plan slide-out.
- Make the required changes to the payment plan.
- Click Update Plan Details.
Additional Actions on a Payment Plan
Let's explore the additional actions on a payment plan.
-
Terminate: Click Terminate to stop all upcoming payment schedules and remove the associated payment token if Auto-Debit is enabled. This will cancel all pending, overdue, and failed transactions for this payment plan.
- Click Proceed to continue.
-
Complete: Click Complete to mark the payment plan as complete if the payments have already been collected, or to complete the payment plan and collect the remaining amount using other methods.
- Choose the reason to complete the payment plan.
- Click Complete to proceed.
-
Pause: Use the Pause option to stop all upcoming Auto-Debits and pause future schedules until you resume the payment plan.
- When resuming the payment plan, any paused transaction(s) with past dates will be skipped, and an equal number of future pending schedule(s) will be added to the end of the Payment Schedule.
- Click Proceed to continue.
-
New Payment Agreement: You can create a new payment agreement if you have changed the payment or instalment amounts, or if you want to modify the terms and conditions of the previous agreement.
- Verify the payment details.
- Make changes to the agreement as needed.
- To add a signature, click Add Signature.
- Click Print Agreement.
Practices can use this simple guide to learn all about creating and editing a payment plan.