Records documenting financial transactions for the reimbursement of therapeutic services form part of the accountability framework governing the therapeutic relationship, and are useful in resolving payment disputes should they arise.
Financial records are retained for five years from the last interaction with the client or until the client’s 18th birthday – whichever is later. They may be kept separately from clinical records but should be maintained with due regard for security. They should be easily retrievable, along with clinical and appointment records, to form a unified client record as needed.
The Standard: Record-keeping – Financial Records
Members ensure that a financial record is kept for every client to whom a fee is charged for therapeutic services. Financial records are retained for five years from the last interaction with the client or until the client’s 18th birthday – whichever is later.
Demonstrating the Standard
A member demonstrates compliance with the standard by, for example:
- ensuring financial records include a clear identification of the person(s) providing the service and his/ her title, and a clear identification of the client to whom the service was provided – client’s full name and address, and unique identifier (if applicable);
- identifying or describing the service provided, the cost of the service and the date and method of payment received;
- identifying fees charged for services provided by supervised personnel;
- indicating the reason or reasons why a fee may have been reduced or waived;
- ensuring that if fees were charged to a third party, the full name and address of that party is included in the record;
- indicating any balance due or owing; and including (if applicable) information documenting the retention of an agency for the collection of any outstanding balance.
Professional Misconduct Regulation, provisions 25, 26, 27
Note: College publications containing practice standards, guidelines or directives should be considered by all members in the care of their clients and in the practice of the profession. College publications are developed in consultation with the profession and describe current professional expectations. It is important to note that these College publications may be used by the College or other bodies in determining whether appropriate standards of practice and professional responsibilities have been maintained.