Practice Management Alert
Charging Late Fees
Question: We do not add any late fees to patients' accounts if they become delinquent. We are considering changing this policy. How should we communicate this to the patients? Nebraska Subscriber Answer: Consider developing a financial policy, or, if you already have one, incorporate a statement about late fees. Your financial policy should inform patients of your available services, fees you charge and financial arrangements. If you are going to charge for sending a claim to a noncontracted carrier, for example, or for billing the patient, the patient needs to know this up front. There are ways to communicate your financial policy to the patient. You can include late-fee notification in:
practice brochures
welcome packages
bills that you send to the patient. When a bill is sent out, write a statement on the bottom indicating that a late fee, e.g., $10, will be assessed if the bill is not paid within a certain time frame, e.g., 30 days from date of service.
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