General Category > General Questions

late fee's

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Michele:
I have seen providers that charge the patient 2% on any balance after 30 days.  Sometimes the interest makes the patient pay because they don't like getting charged, but others don't like it.  Most of my providers don't charge interest.  If they are going to they must have an office rule that they follow on all patients, and patients need to be notified.

Michele

margemib:
Thanks Michele!

medauthor:
Like Michele said.....the patient must be aware of this policy.  The provider should have it listed in the office's "Financial Policy Statement".....I recommend this be posted on the wall in the waiting room, and also have the patient sign a copy and keep in the back of the pt's chart.  Each state has guidelines on the percentage amount that can be charged.

PMRNC:
Late fees, interest and penalties are a a part of the Fair Debt Collections Practices Act. Each state has guidelines on interest/penalties
You need to check your state laws.

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