A Payment Plan is a repayment agreement.
In the Account Module, the Payment Plans grid lists all payment plans associated with the family.
In the toolbar, click Payment Plan, Patient Payment Plan, or double-click an existing plan to edit.
To set when payment plan payments will be due, see Preferences, Days in advance to bill payment plan amounts due.
See Dynamic Payment Plan to create an open-ended repayment agreement.
See General Setup steps at the bottom of this page for instructions on setting up a Patient Payment Plan.
Category: Assign a category to this payment plan (e.g. Ortho, Implant). Useful to distinguish one payment plan from another when families have many plans. Customize the category options in Definitions: Payment Plan Categories.
Patient: The person who was treated. Click Go To to switch to their account. Patients can have multiple payment plans, and each plan can have a different guarantor.
Guarantor: The person who will make the payments. Defaults to the currently selected patient. The guarantor does not have to be in the same family as the patient. It also can differ from the account's guarantor. Click Change to select a different guarantor. Click Go To to switch to their account.
Provider: Defaults to the patient's primary provider. Click the dropdown or [...] to change. If using clinics and providers are restricted to clinics, only providers available for the selected clinic are available.
Clinic: If using clinics, defaults to the patient's clinic. Click the dropdown to change.
Date of Agreement: Defaults to today's date.
Total Amount: The total amount of the payment plan, excluding interest. It defaults to the patient's current balance.
Date of First Payment: Defaults to one month from today's date.
Down Payment: The amount of the down payment. Immediately due when the payment plan is created.
APR: The percentage of interest to charge. If entered, additional options are available to delay interest charges. If both fields are left blank, interest is charged to all scheduled payments.
Interest is automatically calculated using the following method:
The amortization schedule can be based on a total number of payments or a specific payment amount. Enter only one.
Recalculate: Recalculate payments and interest (optional) when a patient prepays, pays on principal, or overpays. See Payment Plan Recalculate.
More Options: Select how often payments will be due based on the Date of First Payment. The default frequency is Monthly, however other options include every other week, specific day of a month (e.g. first Tuesday, etc.), or quarterly.
Create Schedule: Create the amortization schedule based on the terms. A description of the terms will show in the Note field.
View Tx Credits: Attach production to the payment plan. Opens the Payment Plan Procedures and Credits window.
Once the schedule is created or, updated these calculations are automatic.
Total Cost of Loan: Total credits (not associated to procedures) and production amount attached to the payment plan plus interest.
Accumulated Due: Total amount that has been due up to the current date.
Paid so far: Total amount that has been paid towards the payment plan to date.
Principal paid so far: Total amount that has been paid towards the principal to date.
Tx Completed Amt: Total credits and completed procedure amount attached to the payment plan, excluding interest.
Total Tx Amt: Total credits, completed and treatment planned procedure amount attached to the payment plan, excluding interest.
The amortization schedule is generated based on the terms. Principal and interest are calculated automatically. Due dates are based on the Date of First Payment and the frequency selected from More Options. Double-click a row to edit.
Exclude past activity: When checked, only future dated line items show in the Amortization Schedule and past activity is hidden. When unchecked, all activity shows. Totals are not affected by this setting. To set the default setting for the checkbox, see Preferences, Payment Plans exclude past activity by default.
Current Totals: Automatically calculated based on current and past charges, accumulated payments, and the running balance.
A detailed note of the terms shows for future reference. Any changes made to the terms will be added to the note. Other notes can be added as needed.
If Pay Plans use Sheets is checked, additional Terms and Conditions are displayed when viewing or signing the repayment agreement. Customize the default message in Preferences. Updating the terms will also update any replacement fields used in the default message.
Delete: Delete the entire plan. Also, clears any Authorized Recurring Charges attached to the plan. Payments cannot be attached.
Close Plan: Click to close a Payment Plan that is no longer being paid on (i.e., paid off or patient stopped making payments). If any remaining charges, they will become due immediately. See Close Payment Plan.
Add: Add a new payment plan charge to the amortization schedule. The Edit Payment Plan Charge window will open. Enter the principal amount for the new charge and the date the charge will be due.
Add Adjustment: Add a negative payment plan adjustment to discount a portion of the payment plan balance (e.g., courtesy discount). The Negative Pay Plan Adjustment window will open. Enter the amount to adjust off the payment plan.
Pay plan adjustments automatically reduce the Total Amount, apply credits to future due amounts, and reduce the Total Tx Amt (via a credit in the Payment Plan and Procedures and Credits window). To also include an adjustment in the Patient Account ledger with today's date, check Also make line item in Account Module, this is not recommended when using the Preference Pay Plan Charge Logic, Do Not Age (Legacy). Check box is only available if the logged-on user has the Adjustment Create permission.
eClipboard: Send the Payment Plan to eClipboard. See eClipboard: Payment Plans.
Clear Schedule: Erases the current amortization schedule, including adjustments (e.g., if terms have been changed and the schedule needs to be replaced).
Print: Click to print a copy of the payment plan Amortization Schedule and Terms or Payment Plan sheet.
Sign & Print: Displays instead of Print when the preference Pay Plans use sheets for printing is enabled and the payment plan sheet contains a signature box. See Sign and Print Payment Plan.
Click OK to save changes, or Cancel to close without saving.
To set up a patient payment plan, follow the steps below:
To edit individual payment plan charges, double-click the charge from the amortization schedule. The payment plan charge interest field is read-only. If APR is included in the plan terms, charges cannot be added or edited; however, users with the Pay Plan Charge Date Edit Permissions may edit the charge due dates.
To delete a payment plan charge, double-click the charge from the amortization schedule and click Delete or, right-click the posted PayPln: Debit from the Patient Account and select Delete Charge. The right-click option is only available when the Pay Plan charge logic, Age Credits and Debits, is selected in Preferences. Payments cannot be attached to the charge. If a charge is deleted, update the Payment Plan Procedures and Credits and recalculate the payment plan. See Payment Plan Recalculate.
To edit patient payment plans with overcharged production, see Payment Plan Q and A.
Credits, debits, and payments for patient payment plans can optionally show as line items in the patient's Account Module and affect balances and aging.