Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 , Although we've had patients request this, we never do. Mendoza Liver Transplant Financial Coordinator Phone: Fax: Pager: 3-9648 Location: 120 W Mendoza.@... Silence is often misinterpreted but never misquoted From: TxFinancialCoordinators [mailto:TxFinancialCoordinators ] On Behalf Of anne BuccheriSent: Wednesday, October 11, 2006 11:50 AMTo: TxFinancialCoordinators Subject: self pay patients Hello fellow TFC's,We have our first self pay liver patient who has deposited a large sumof money, but may wait longer than a year for a transplant. Do yourcenters ever set up interest bearing accounts for these situations?Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 Our center doesn't set up an interest bearing account for these types of pts. We recommend that they set up an irrevocable letter of credit from any United States bank good for at least 1 yr. " anne Buccheri " Sent by: TxFinancialCoordinators 10/11/2006 10:50 AM Please respond to TxFinancialCoordinators To <TxFinancialCoordinators > cc Subject self pay patients Hello fellow TFC's, We have our first self pay liver patient who has deposited a large sum of money, but may wait longer than a year for a transplant. Do your centers ever set up interest bearing accounts for these situations? Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 out of country - refer to International Dept. - USA or Local to Admitting office, Director or Manager only, they expect more than 50% down with a local bank agreement for the balance, similar to Chaney. Their are other medical services including Pre & Post transplant services and Donor. Just keep in mind of medical complications, exceeding the norm $$$. Louis, a proud TFC. At 11:50 AM 10/11/2006, you wrote: >Hello fellow TFC's, > >We have our first self pay liver patient who has deposited a large sum >of money, but may wait longer than a year for a transplant. Do your >centers ever set up interest bearing accounts for these situations? > >Appreciate any advice. > > > > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 St. Luke's Episcopal Hospital does not set up interest bearing accounts for the deposits obtained. >>> jbucche@... 10/11 10:50 AM >>> Hello fellow TFC's, We have our first self pay liver patient who has deposited a large sum of money, but may wait longer than a year for a transplant. Do your centers ever set up interest bearing accounts for these situations? Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 We usually have the patient put the money in an account where they are getting the interest with the monies being designated to the hospital…I believe it is called a letter of guarantee. This way, the patient has the additional funds available for services. We do not have anything set up to provide interest to the family. Debbie Mast Supervisor, Senior Transplant Financial Coordinator Member, TFCA Heart Failure, Heart, Lung, Heart/Lung, Liver, Kidney, Pancreas, Intestinal Transplant Programs Phone: Fax: From: TxFinancialCoordinators [mailto:TxFinancialCoordinators ] On Behalf Of anne Buccheri Sent: Wednesday, October 11, 2006 8:50 AM To: TxFinancialCoordinators Subject: self pay patients Hello fellow TFC's, We have our first self pay liver patient who has deposited a large sum of money, but may wait longer than a year for a transplant. Do your centers ever set up interest bearing accounts for these situations? Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 Hi , At NZTI we do not set up interest bearing accounts. It is not something that usually makes the patient very happy but it is the way we have handle these deposits in the past. We just set up a hospital number for the future and put it on the patients hospital account. To get into interest bearing accounts things would get very confusing for a billing department. A deposit for future services and on a future number are confusion enough. In the long run less confusion will make the patient happy. Dugan Transplant Financial Coordinator INTEGRIS BAPTIST MEDICAL CENTER Nazih Zuhdi Transplantation Institute Office direct ext 96097 NZTI FAX E-Mail: .Dugan@... -----Original Message-----From: TxFinancialCoordinators [mailto:TxFinancialCoordinators ]On Behalf Of anne BuccheriSent: Wednesday, October 11, 2006 10:50 AMTo: TxFinancialCoordinators Subject: self pay patients Hello fellow TFC's,We have our first self pay liver patient who has deposited a large sumof money, but may wait longer than a year for a transplant. Do yourcenters ever set up interest bearing accounts for these situations?Appreciate any advice. This e-mail may contain identifiable health information that is subject to protection under state and federal law. This information is intended to be for the use of the individual named above. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this information is prohibited and may be punishable by law. If you have received this electronic transmission in error, please notify us immediately by electronic mail (reply). Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 When I looked into this, years ago @ my previous ctr, when I had my first self pay, the legal dept quashed the idea due to the issue of who was going to be responsible for the 1099 that the bank holding the funds would have to issue for the interest earned. So, from that point on, the funds just went to a future admit set up under the pt's name as a deposit & the $$ went into the hospital's gen'l account. J. Aguiar Beth Israel Deaconess, Boston From: TxFinancialCoordinators [mailto:TxFinancialCoordinators ] On Behalf Of Deidra LesterSent: Wednesday, October 11, 2006 12:03 PMTo: jbucche@...; TxFinancialCoordinators Subject: Re: self pay patients St. Luke's Episcopal Hospital does not set up interest bearing accountsfor the deposits obtained.>>> jbuccheharthosp (DOT) org 10/11 10:50 AM >>>Hello fellow TFC's,We have our first self pay liver patient who has deposited a large sumof money, but may wait longer than a year for a transplant. Do yourcenters ever set up interest bearing accounts for these situations?Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 I have a few kidney self pays that have been on our list a few years and we currently do not have any provisions for interest bearing accts. Fornash Transplant Financial Coordinator Kidney & Pancreas Mayo Clinic ville (904) 953.6062 phone (904) 953.2681 fax fornash.angela@... self pay patients Hello fellow TFC's, We have our first self pay liver patient who has deposited a large sum of money, but may wait longer than a year for a transplant. Do your centers ever set up interest bearing accounts for these situations? Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted October 11, 2006 Report Share Posted October 11, 2006 You run into problems if you accept a large deposit from a patient who is waiting for an organ. Hospitals operations are set up to receive interest, not pay it. You would have to agree on an interest rate while the pt is waiting, and then what do you do if interest rates change considerably during the year? An irrevocable Letter of Credit with the hospital as the beneficiary allows the patient to accrue interest at his bank. The downside for the patient is how much the bank is charging to service the LOC. But it keeps the hospital out of the banking business. I don’t know if Bill Vaughan would have any thoughts about holding a large deposit for an uncertain future event and inducement issues. Fred L. Forsthoffer, MBA Financial Analyst Banner Good Samaritan Transplant Services , , F- From: TxFinancialCoordinators [mailto:TxFinancialCoordinators ] On Behalf Of anne Buccheri Sent: Wednesday, October 11, 2006 8:50 AM To: TxFinancialCoordinators Subject: self pay patients Hello fellow TFC's, We have our first self pay liver patient who has deposited a large sum of money, but may wait longer than a year for a transplant. Do your centers ever set up interest bearing accounts for these situations? Appreciate any advice. Quote Link to comment Share on other sites More sharing options...
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