For a payment plan to be created, a down payment is required, which means the patient must pay their first installment, which could be (the first month, first quarter, or first half-yearly). Once that down payment has been taken, the payment plan will be automatically created, allowing the user utilize the payment plan flexibilities on a payment schedule, such as Pay Now, Edit, Skip, or Exempt.
Let's explore the various scenarios where users can put these different options to use.
| Note: A payment plan will only be created if the chosen Billing Cycle is chosen for any option other than yearly. This allows the user access to the built-in flexibilities within the payment plan schedule. |
- Let's explore these different options that CareStack offers, provided the patient has paid their downpayment and their billing cycle is not yearly.
- In such a scenario, the user can click into the payment plan and use those different options to fulfill their requirements.
Let's start with the Pay Now option.
- If the patient would like to pay in advance on a future month, users can click Pay Now.
If the practice is willing to provide a payment exemption for a particular month, click Exempt.
If the patient wants to pay more or less than the specified amount, users can click Edit to alter the amount.
| Note: Doing so will recalculate the remaining amount through the remainder of the payment schedule. |
Users can also click ‘Skip,’ which essentially edits the payment amount to zero and redistributes those needed funds throughout the remainder of the payment schedule.
Portal Tracking of Members and their Payment Schedule Status
Navigate to the System Menu > select Membership Plans under Subscriptions > select the Members tab.
Under the Members tab, click on the desired Patient Name. This will open the Patient Details slider, where you will find a colorful diagram of the patient's overall payment status.
- Green suggests successful payments.
- Pink stands for the failed payments.
- Purple signifies payments that were skipped.
- Yellow indicates payments that were exempted.
Note: An exempted payment means the user had given that month away for free. - Gray designates payments that are remaining.
This is how it will appear when the above payment status is compared with its actual payment plan.
- Here is another example of a patient in an Active status.
- The patient has opted to pay Monthly.
- Two of the payments have gone through, leaving the remaining two for the future.
This guide can be referred to anytime you want to learn more about the payment plan flexibilities and portal tracking.