tci Part B Insider - 2005 Issue 11

Practice Management: Consider Charging Patients Who Stall On Copays, Deductibles

A monthly "statement fee" can be an alternative to interestEvery practice has had patients who aren't indigent, but who take their sweet time paying copayments and deductibles.Going after these people costs your practice money, so allowing them to owe the same amount for months seems like a waste. Some practices choose to charge these patients interest or finance charges on their copayments and deductibles. This action is acceptable, say experts, as long as you follow these rules:1. Pay attention to usury laws in your state. Each state has laws that dictate how much interest you can charge people...

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