ℹ️ Note, we sometimes use the terms bill and invoice interchangeably. They refer to the same thing.
Overview
Payment plans are a way for patients to pay for a single bill with multiple installments, making it easier to pay. Each payment plan installment is basically a scheduled partial payment charged against the bill. This gives patients financial flexibility, making it easier for them to meet their out-of-pocket responsibilities and lowering the rates of defaults, particularly on higher bills.
ℹ️ Note, payment plans are an optional feature of SolvPay. You will need to have them enabled in order to provide them to your patients.
Enrolling a bill in a payment plan
If you have a patient who is struggling to pay a large bill, you can enroll them in a payment plan directly from the Solv invoice-details page for their pending bill. You will find the option in the payment-collection panel, visible when you select “Collect payment” on the page.
You will see an option on the payment page if the bill meets the requirements for being enrolled in a plan. The requirements vary depending on payment-plan configurations that may be unique to your clinic location or group.
Actually enrolling in the plans is simple! You will be given a small set of plan options that you can choose from.
ℹ️ Note, in the future, Solv will provide more options including the ability to create custom plans.
Plan details are also optionally available to provide you with more context to explain the plan structures to your patients. The details let you know exactly how much will be charged on what dates. The first installment will always be charged the day that you enroll the invoice in the payment plan.
Plans require that you have a valid card on file. You can choose from an existing card on file, or add a new one as part of the enrollment process.
Make your selections, get a card on file, and click the “Enroll” button. That’s it! The plan will be created and you will see the details now integrated into the invoice details page.
At this point the plan is set and there’s nothing more that you need to do. Solv will automatically attempt to charge each installment to the card on file on the dates outlined for the plan. The patient will receive SMS notices about the plan and each of the individual payments.
As payments are made, the timeline on the bills page will automatically update to reflect them.
Early payoff
If a patient has a bill enrolled in a plan and wants to pay it off early, you can help them do this. In the invoice details page for their bill, return to the ‘Collect payment’ interface and charge the remaining balance. It works just like charging any invoice, and when the balance is paid the related payment plan will be automatically canceled.
Canceling a payment plan
If for any reason you need to cancel a payment plan, the process is also very easy. Just return to the invoice page for the bill, find the payment plan details at the bottom of the page, and choose the ‘cancel’ option from the actions menu.
The plan will be automatically canceled at that point and no more installments will be collected. The patient will still be responsible for the remainder of the bill and can pay through any of the existing payment options in Solv.
Patients can manage their own plans
If payment plans are available at your clinic through Solv, patients will also see options to enroll their bills in plans, and to manage their own plans. These will be available on the invoice details page that they are directed to from the existing SolvPay SMS messages.
ℹ️ Note, even if you have plans enabled at your location, payment plan enrollment links will only be available to invoices that meet the requirements set by your location’s configuration. Some invoices will not be eligible for plan enrollment because they are for too small an amount, are too close to the invoice issue date, or for other reasons.