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TIP: Develop a patient screening process for payment plan eligibility

Patient Access Weekly Advisor, May 14, 2008

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The most effective payment plan programs begin with a screening to determine whether the patient has the financial resources to meet the monthly payment level required by hospital policy. This step may be waived if the balance can be resolved with a short period, usually three to six months. For longer-term plans, however, screening is an important step to make sure that the patient can meet the payment-plan terms.

The following screening methods can be used:

1. Require the patient to complete an application that identifies and validates the patient’s income, expenses, and other assets that can be used to secure the debt.
2. Utilize internally-developed guidelines based on historical payment history to evaluate the application.
3. Obtain the patient’s credit score (which requires the patient’s written permission) from one of the three major credit-reporting firms. Credit scores generally range from 300 to 850; the higher the score, the better the patient’s credit worthiness.

Note: This tip was featured in The Patient Access Director’s Handbook To learn more about this book, click here.

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