When major procedures are scheduled, what may a practice do regarding payment plans?

Setting up a prepayment plan is the most effective option when major procedures are scheduled. This approach allows the practice to manage their cash flow while providing patients the flexibility to pay for the procedure in installments. It alleviates financial strain on the patient and increases the likelihood that they will follow through with the scheduled procedure, as they have a clear understanding of the costs and a manageable way to pay for them over time.

By offering prepayment plans, practices can secure some funds in advance, which helps in planning for the costs associated with the procedure. It also enhances patient satisfaction since many patients may feel more at ease knowing they have a structured plan in place.

In contrast, rejecting all payment plans or offering no payment options would limit access for patients who might find it challenging to afford a lump sum payment for a major procedure. Requiring full payment upfront could also deter some patients from proceeding with necessary treatments, potentially resulting in a loss of revenue for the practice.