Essay about Hcr/230 Financial Policy

1164 Words Dec 14th, 2011 5 Pages
Fairview Medical Associates Financial Policy
In an attempt to keep your medical cost for services to a minimum, we have adopted the following policy regarding payments and billing. If you do not have insurance coverage, payment will be due in full amount on the day the service is giving.
Copayments and Deductibles
You are expected to pay your copayments and deductibles at the time of service. All payments are required at the time of service unless other arrangements have been made in advance.
Fairview Medical Associates accepts cash, personal checks (in-state only), VISA, and MasterCard. There is a service charge of $25.oo for any returned check (Smith, 2009).
Past Due Balances
ALL ACCOUNTS MUST BE PAID IN FULL WITHIN NINETY (90)
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I also agree that if it becomes necessary to forward my account to a collection agency, in addition to the amount owed, I also will be responsible for the fee charged by the collection agency for costs of collections (Smith, 2009).

Signature of insured or Authorized representative:
Date:

References

Brooks, B. (2003). Healthcare Financial Management: Journal Of The Healthcare Financial Management Association, 50(6), 84-93. Retrieved from EBSCOhost.

Smith, J. (2009, January). Healthcare Finance 101. HFM (Healthcare Financial Management). p. 26. Retrieved from EBSCOhost..

Valerius, J., Bayes, N., Newby, C., & Seggern, J. (2008). Medical insurance: An integrated claims process approach (3rd ed.). Boston: McGraw-Hill.

Part B: Review of My Financial Policy
When I started this project I kept in mind that my project would be toward small to medium healthcare facilities. I would like to think of policy as been easy to understand for patients as well as staff. A lot of patients usually just sign the financial policy without thinking twice about what they are signing. The financial policy uses simply words that patients and or staff can easily understand. My financial policy is beneficial to the company because the patient has to make some type of payment arrangement to their prior balance before they can be seen by their doctor. The facility is guaranteed up to 50% percent up front for procedures

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