C
cpedrich
Guest
What is the name of your state? South Carolina
I am in the durable medical equipment business. We file insurance claims for our customers. Most of the time, insurance will pay 80% of the charges leaving the remaining 20% as patient responsibility. That 20% can equal well over $100.
My question is regarding splitting up payments for the remaining 20%, which I am asked to do quite often. I have heard in numerous collection seminars that if you were to accept a $5 check as a payment, then you are in a binding contract to accept $5 per month until the bill is paid. I wanted to double check that here to make sure. I have my first $5 payment that I do not want to deposit if this is true. I do not mind at all splitting up payments, but I really can not run a business on $5 per month.
Thank you so much for your time.
I am in the durable medical equipment business. We file insurance claims for our customers. Most of the time, insurance will pay 80% of the charges leaving the remaining 20% as patient responsibility. That 20% can equal well over $100.
My question is regarding splitting up payments for the remaining 20%, which I am asked to do quite often. I have heard in numerous collection seminars that if you were to accept a $5 check as a payment, then you are in a binding contract to accept $5 per month until the bill is paid. I wanted to double check that here to make sure. I have my first $5 payment that I do not want to deposit if this is true. I do not mind at all splitting up payments, but I really can not run a business on $5 per month.
Thank you so much for your time.