Five steps to successfully chasing a late payment (1 CPD hour)
Director of primary care for Wessex LMCs Carol Cusack explains how to pursue practice income when you are not paid according to schedule
This module offers advice on successfully chasing late payments, including:
- Identifying who to claim from
- Implementing good processes for monitoring payments
- Escalating complaints where the debtor is evasive or unresponsive
After reading these articles you will be asked to record your learning points and some action points to earn a suggested 1 CPD credit. Below are some suggested questions to reflect on as you work through the module:
- Are you and your administration staff aware of which commissioner is responsible for which payment? Do you have this information documented?
- Does your financial administrator have a spreadsheet detailing all other sources of income?
- For all areas of income do you have a clear idea on payment frequency and deadlines so that late or missing payments can be chased up?
- Do you ensure that a log is kept to prove that claims have been made and payments have been chased up?
- Are you aware of the hierarchy of contracts and resources to approach or use to resolve issues around delayed payments?
- Do you have a contingency plan to manage cashflow while chasing up late payments?