The Prompt Payment Discount feature is a tool that providers can use to increase collections. Practices can set up a Prompt Payment Discount code that automatically applies if patients pay within a certain timeframe after their first statement (electronic or paper). A prompt payment discount encourages patients to make payments quicker since it will be at a discounted rate and reduces the chances of needing to send additional statements, call the patient, or even send the debt to collections.
Patients will see information about the Prompt Payment Discount within the Payment Portal, emailed statements, and paper statements (automatic and user-print). It will display the amount due with and without the discount, and the date it must be "Paid By" to receive the discount.