Financed Payment Plans via Integrated FInancing can have four possible statuses depending on patient activity:
1. In Progress
2. Active
3. Delinquent
4. Frozen
In Progress Status
Plans are in an In Progress status after plan confirmation, until the patient’s first payment clears.
At this time nothing can be done in an In Progress status, because at this point the payment method is in the process of being confirmed. All actions will be grayed out and disabled at this time. This also means that the plan cannot be modified or canceled.
Here’s an example of a financed plan in In Progress status. The In Progress status can be seen at the top of their account screen.
Patients will see a message that their plan is In Progress and that once their payment clears, it will become active. They will be notified as soon as the status is updated by SMS or email.
Please Note: There might be a few days delay of when a plan status is updated from pending to active. Customers should monitor plan statuses via the Flywire Financed Plan Inventory report available in the Flywire Staff Experience.
Active Status
Plans are in an Active status once Flywire has successfully processed the first payment. This action signifies when PayZen funds the plan, which will update the host patient balance for all accounts on the plan to $0.
In this status patients can…
- Make payments
- Change payment methods
- View plan activity
- Pay off the balance in full
Staff Experience users can see that the account is in an Active status at the top of their account.
Here’s an example of a financed plan in Active status. The Active status can be seen at the top of their account screen.
Delinquent Status
Accounts have a Delinquent status 14 days after a patient misses their payment. In this status patients can make payments, update, and change their payment method. Staff Experience users can see that the account is in a Delinquent status at the top of their patient screen.
To bring the plan back to “good standing”, patients must make a payment towards their plan. The payment is applied to their first missed installment. To become current on the plan, patients must pay their first missed installment and the current installment.
Please Note: It is important to note that a plan can be delinquent for up to 6 months before it may be deemed uncollectable and the plan is charged off.
Here’s an example of a financed plan in delinquent status. The delinquent status can be seen at the top of accounts screen. It will encourage patients to make a payment today to bring their account back to good standing.
Frozen Status
Plans may be paused by staff if the patient's accounts require further review. An example of this would be while the financial assistance team assesses the patient's qualification for charity.
In this status, all actions are grayed out and disabled. Auto-debit payments won’t be processed and statement notifications won’t be sent until the plan is resumed.
Staff Experience users and patients can see that the account is in a Frozen status at the top of their My Accounts screen.
Here’s an example of a financed plan in the Frozen status. The Frozen status can be seen at the top of the accounts screen. Patients are encouraged to call the phone number listed at the top with any questions.