Which option is NOT a requirement for the management of third-party receivables in a discounted fee-for-service contract?

In the context of managing third-party receivables under a discounted fee-for-service contract, each element mentioned plays a role in ensuring financial efficiency and effective patient management. Regular follow-up on outstanding balances is a critical requirement within this framework. It allows the practice to monitor payments, address any issues promptly, and maintain cash flow. Failure to follow up could lead to increased delays in payment and potentially higher write-offs when debts become uncollectible.

On the other hand, implementing a payment plan, providing clear communication of payment terms, and documenting a patient's financial status are all essential components that support patient care and financial management. A payment plan is especially beneficial for those patients who may not be able to pay their bills in full immediately, fostering greater patient satisfaction and continued care. Clear communication helps patients understand their obligations and reduces confusion, which can lead to better payment compliance. Documenting a patient’s financial status assists in tailoring payment plans and managing expectations effectively.

Therefore, while regular follow-up on outstanding balances is undoubtedly necessary, the absence of such follow-up would negatively impact the management of third-party receivables, making it an essential requirement.