Balances and Copay Collection Policy

At Psychvisit, we are dedicated to providing quality mental health care to our patients while maintaining clear and fair financial policies. This policy outlines our procedures regarding balances and copay collection to ensure transparency and efficiency in our billing processes.

1. Copay Requirements:

a. Copay Due at Time of Service: Patients are required to pay their copayments in full at the time of their appointment. This applies to all visits, including initial consultations, follow-up appointments, and therapy sessions.

b. Amount of Copayment: The amount of the copayment is determined by the patient's insurance plan and is typically specified on their insurance card. Patients are responsible for knowing their copayment amount prior to their appointment.

c. Acceptable Payment Methods: We accept various forms of payment for copayments, including cash, credit/debit cards, and certified checks.

2. Balance Payments:

a. Payment Responsibility: Patients are responsible for any outstanding balances not covered by their insurance, including copayments, deductibles, coinsurance, or non-covered services.

b. Billing Statements: Patients will receive billing statements for any outstanding balances after their insurance has processed the claim. Statements will detail the services provided, the amount billed to insurance, and the patient's financial responsibility.

c. Payment Deadline: Balances are due upon receipt of the billing statement. Patients are expected to make payment promptly to avoid late fees or additional collection actions.

3. Late Payment Policy:

a. Late Fee: Patients who fail to pay their copayment on the same day of service will be charged a late fee of $25. This fee will be added to their outstanding balance and reflected on their next billing statement.

b. Notification: Patients will be notified of any late fees incurred on their billing statements. Clear communication regarding late payments will be provided to ensure awareness of the consequences.

4. Payment Options:

a. Flexible Payment Plans: Psychvisit understands that some patients may face financial challenges in meeting their obligations. We offer flexible payment plans to assist patients in managing their outstanding balances. Patients can discuss payment plan options with our billing department.

b. Online Payment Portal: Patients have the option to conveniently make payments online through our secure payment portal. This allows for easy access to view and settle outstanding balances at their convenience.

5. Collection Actions:

a. Delinquent Accounts: Accounts with unpaid balances exceeding 60 days may be subject to further collection actions, including but not limited to, referral to a collections agency and reporting to credit bureaus.

Conclusion:

At Psychvisit, we strive to maintain clear and fair financial policies for the benefit of our patients and the practice. By adhering to these policies, we can ensure the smooth operation of our billing processes and focus on delivering exceptional mental health care to our patients. Patients are encouraged to reach out to our billing department with any questions or concerns regarding their balances or copayments.

Revised-4/14/2024 Faisal Rafiq MD.