What are my reporting obligations with a CPP® agreement?
Your only obligations under such agreement are to timely and accurately report the number of procedures performed using your Olympus equipment, as well as to promptly pay any fees upon receipt of the monthly invoices you receive (based on the number of procedures you have reported).
Is there a minimum monthly payment?
No. There is no minimum monthly payment due under the CPP® agreement covering Olympus equipment. You will be invoiced only for the number of procedures actually performed each month. However, an annual minimum applies.
Can equipment be added to a CPP® agreement?
Yes. Changes to the CPP® agreement may be made with the approval of both parties. This is a popular feature and flexible benefit of an Olympus CPP® agreement. A written amendment to the CPP® agreement will reflect the changes.
Can the CPP® amount be changed?
Yes, if both parties agree. This typically occurs when equipment is added. A written amendment, signed by both parties, is required to make changes to the CPP® dollar amount or forecasted procedure volume.
Who pays for equipment servicing and how is it billed?
Service coverage can be included under the CPP® agreement and is then combined with the equipment CPP® payments on one monthly invoice.
When does a CPP® agreement end?
The initial term of your CPP® agreement is based on a specific number of procedures to be performed within a predetermined time frame. Your equipment payment obligations, under the agreement, can be completed early if the procedure volume is attained prior to the end of the agreement term.
How many healthcare providers have acquired equipment under a CPP®?
Olympus Financial Services currently has over 8 million procedures under contract throughout the United States.