Financial Policy

[Zumalaf]

I am looking for guidance on creating a FINANCIAL POLICY for our psychiatric practice.  If anyone has examples of their financial policy that you are willing to share, I would be very appreciative.  This is for us to give to our new patients.  We have previously had a paragraph as part of our initial consent, but want to separate this out into a freestanding document because patients have increasingly become more lax about paying for services.  Also, we want to add some charges for non-covered services such as copying medical records, completing forms, and cancellation fees which we have not charged for in the past.

[PMRNC]

I don't reccomend using samples, you want to create your own and they should be a part of your policies & procedures which is required.

[Zumalaf]

I agree that I shouldn't use a sample -- but looking for examples of what to include -- if you have recommendations on what to include or where I can find that information, then I would appreciate that as well!  Thanks in advance.

[kristin]

Google is your friend in this situation. Google medical office financial policies, and you will see many examples. You can also go onto the websites of various  doctor's offices in your area/any area in the country, and look at the ones they have uploaded in the section for patient forms.

Some words of advice...if you are going to charge patients for copying their medical records if they ask for their records, make sure to say that the records are the property of the practice, and that the patient will be charged the applicable fees as set by state mandate/law, and then ONLY charge what your state allows for this. Each state has different fees. Some offices think they can charge whatever they want for this, and they can't. Additionally, if you are going to charge a collection fee if someone has to go to collections, this is also has to be within state guidelines.

[williamportor]

I am looking for guidance on creating a FINANCIAL POLICY for our psychiatric practice.  If anyone has examples of their financial policy that you are willing to share, I would be very appreciative.  This is for us to give to our new patients.  We have previously had a paragraph as part of our initial consent, but want to separate this out into a freestanding document because patients have increasingly become more lax about paying for services.  Also, we want to add some charges for non-covered services such as copying medical records, completing forms, and cancellation fees which we have not charged for in the past.

Hello - This might sound overly simplistic, but I would call or visit several psychiatric practices, tell them who you are, and that need some guidance in this area, ask if they would be willing to share their financial policy info. with you. Then you can rework their policy (if necessary) to fit your needs. This might save you time and effort, rather than trying to manufacture a new policy from scratch. I would also suggest having your finished work reviewed by an attorney experienced in the healthcare field to make sure it passes legal muster.