How a Large Healthcare Receivables Client Saved & Reallocated 24 FTE hours to increase revenue and win more business

 

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THE CHALLENGE
A high percentage of collection-related calls involved repetitive and often time-consuming activities that tied up agents—limiting the number of accounts they could work in a day. Almost 80% of all consumer payments were being made over the phone (with an average call handling time over 9 minutes.

THE SOLUTION
Add frictionless and flexible 24-7 payment options. We added self-service solutions that let consumers resolve their financial responsibilities themselves—at a time convenient to them and through payment terms they could choose on their own. 

THE RESULTS
Massive reduction in FTE hours spent performing repetitive tasks.
Significant increase in the percentage of transactions made thru self service

Increased capacity to work more accounts and take on new business without increasing staff

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Expanding self service increases operational capacity

Payments made through self-service channels cost 10 times less to collect than those processed by agents over the phone or by mail.
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Consumers prefer the flexibility of communicating electronically

Consumers want to interact with a business through the communication channel most convenient to them—which for many means email, chat, and text messages.

The role convenience plays in paying a debt

With a growing number of consumers routinely paying their bills online or after business hours, it makes sense that those preferences would also apply when settling a debt.
More Studies & Research

Communication & Payment Preferences of Consumers with Past Due Debt

We asked 1000 consumers how they prefer to be contacted about a past due balance, and which payment options they would choose if the balance was more than they could afford.

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The Top 5 TCPA Compliance Risks Your Business Should Not Be Taking

 

TCPA-related class action lawsuits have become a booming industry where debt collectors and healthcare billing departments have become the targets of litigation just for attempting to collect money they are owed. Here’s 5 risks you can’t afford to take.

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5 Communication Strategies for Reaching Millennials

 

The “Millennial Mindset” extends beyond an age group or demographic, it’s quickly becoming the consumer standard that all businesses must meet to succeed.

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Consumer Studies & Reports

How Higher Out-Of-Pocket Costs Are Changing Healthcare's Revenue Cycle

 

In a study involving 675 patients, we analyze the impact that HDHPs, higher out-of-pocket costs, and consumerism are having on healthcare’s revenue cycle.

 

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Communication & Payment Preferences of Consumers with Past Due Debt

 

We asked 1000 consumers how they prefer to be contacted about a past due balance, and which payment options they would choose if the balance was more than they could afford.

GET STUDY

The Top 5 TCPA Compliance Risks Your Business Should Not Be Taking

TCPA-related class action lawsuits have become a booming industry where debt collectors and healthcare billing departments have become the targets of litigation just for attempting to collect money they are owed. Here’s 5 risks you can’t afford to take.

GET REPORT

5 Communication Strategies for Reaching Millennials

 

The “Millennial Mindset” extends beyond an age group or demographic, it’s quickly becoming the consumer standard that all businesses must meet to succeed.

 

GET STUDY

White Papers

How Electronic Foms & Patient Portals Reduce Expense & Increase Revenue

 

With higher out-of-pocket costs making patient collections more difficult, providers are looking for a more streamlined and proactive approach to patient intake and billing.

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