Starting a Medical Billing Business > Starting Your Own Medical Billing Business

Late Payments

(1/3) > >>

SLITTLES:
Hi All,

I have a client that has consistently paid his invoice late for the past couple of months.  My contract does include a late payment fee as well as a clause that I can stop work at my discretion if the bill is so many days late.

He seems to not mind paying the late fee and it has never gotten to the point that I have to stop work.

My question is, how long do you give your clients to pay their invoices and to actual stop working?

Thanks

Merry:
My opinion. If the bill is due on the 10th, I would charge him a late fee for every day that he is late and stop work as of the 15th. Ok, I am hard nosed but it is the way I would do it and I have done it. Funny how they have no idea why the money is not coming in. By charging him for each day he is late..adds up quickly. Check state laws before you do it though.

Merry

tallmanusa:
I have noted that taking credit cards for payments helps.
We give them an option to pay by credit card on the invoice.
If they are late, someone calls them on the tenth and gets the number and charges them.
Some people use ACH.

SLITTLES:
They can pay by CC right from the invoice and this still does not help.

Merry that is tough but I bet you get your invoices paid on time!

Thanks for the responses!

PMRNC:
Within MY contract, they get 15 days. After 15 Days they get charged late fee. at 30 days, activity stops until payment is received.   
This is outlined in my contract very specifically so there is NO guesswork.

Navigation

[0] Message Index

[#] Next page