A payment plan splits an invoice into smaller amounts, which can then be paid by your patients at a scheduled frequency. This is ideal if your practice offers high value services - such as comprehensive psychological assessments or surgeries - which might result in out-of-pocket expenses for your patients.
Payment plans make these high value services more manageable for your patients and helps separate the financial relationship from the clinical relationship you have with patients.
With payment plans, your practice can benefit in the following ways:
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Payment certainty: With automatic payment processing, Halaxy gives you certainty that you'll be paid and improves cash flow.
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Flexibility: Payment plans provide more flexibility in how you support patients to access your services, and flexibility in how your patient pays for your services.
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Focus on patient care: You can help people access healthcare services which they might otherwise be hesitant to due to costs. This lets you and your patient focus on their healthcare.
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Repeat income: Payment plans also allow you to provide valuable retainer services such as memberships and programs.
Note
An invoice with a payment plan always follows its own schedule, even if you have enabled automatic processing for all invoices in your practice.
Tip
No need for installments? One-time payments can also be scheduled for individual invoices. Learn more.
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Open the invoice.
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Under the Payments section, on the Process Now button, click the down arrow and select Schedule payment.
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In the pop-up, configure the following:
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Enter your patient's card payment details, if you haven't yet.
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Schedule Type: Select Payment plan.
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Frequency: Select the frequency of the payments - monthly, fortnightly, weekly. (Note: Manual frequency allows you to fully customise the amount, date and time of each individual scheduled payment.)
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Enter one of the following fields and Halaxy automatically calculates the rest for you.
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Amount: Enter the amount for each payment and Halaxy calculates the number of payments required.
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Number of payments: Enter the number of payments for the patient to make and Halaxy calculates the amount of each payment. (Note: Payment plans must be completed within 1 year, so each frequency has a limit of number of payments - Monthly: 12, Fortnightly: 26, Weekly: 52)
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If you make any changes to one field, delete the value in the other to refresh the calculation.
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Your payment plan should result in Total Unscheduled Balance equal to 0.00. If this value is greater than 0, that means your invoice will have an unpaid balance, which you can cover by rounding up the first or last payment. If the value is less than 0, the scheduled payments amount is greater (i.e. charges more) than the actual invoice total. Halaxy does not process invoice payments that overcharge the payer.
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Starting Date / Time: Enter the date and time when this payment plan should commence.
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If you want to redo the payment plan, click Delete All. This deletes only upcoming scheduled payments. It does not delete any previous payments made.
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Click Save.
You have successfully created a payment plan for this invoice. Payments are automatically processed according to your selected schedule.
Note
Each individual payment in a payment plan incurs its own processing fee.
You can cancel an invoice payment plan anytime, which deletes future scheduled payments that have not yet been processed.
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Open the invoice.
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Under the Payments section, click one of the Scheduled links to open the payment plan settings.
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In the bottom left corner of the pop-up, click Delete All.
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Click Delete to confirm.
You have deleted all future scheduled payments for this invoice.
Note
Any processed payments in the payment plan can no longer be cancelled, but can be refunded.
You can cancel an individual scheduled payment but only for future scheduled payments that have not yet been processed.
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Open the invoice.
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Under the Payments section, next to the scheduled payment line, on the Process Now button, click the down arrow and click Delete payment.
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In the pop-up, click Delete to confirm.
The individual payment has been deleted.
Your invoice may now have an unscheduled balance. You can adjust the remaining scheduled payments to cover the balance.
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