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A medical payment plan is an agreement between a patient and a healthcare provider to manage costs associated with medical services. These plans are beneficial for handling various healthcare expenses, from surgeries to routine visits, as many patients may struggle to pay large bills upfront or face uncovered charges from insurance. By allowing payments to be made over time, these plans reduce financial stress on patients and support consistent revenue for providers. A payment plan should include key elements such as the names of the parties involved, a description of services rendered, total balance due, repayment terms, payment instructions, late payment policies, and signatures from both parties.
