STATEMENTS | 10 MIN READ
Top 5 Things to Know When Choosing a Statement Provider
By Michael Wise
These agencies, regulations, and court rulings have the power and authority to fine, legally prosecute, or even incarcerate if data is breached or consumer protections are violated.
A print and mail vendor that predominantly sends marketing letters is less familiar with data security protocols and less likely to execute them in a consistently compliant manner.
An average size commercial print shop could send out 1 million pieces of mail a month. 99.9% accuracy means 1000 letters get mailed to the wrong address every month.
Can the statement vendor produce dynamic elements like unique log in codes, pin numbers, or QR codes (with embedded account numbers)? All of these enhanced features increase statement performance and are great selling points when attracting new clients.
Want to know more?
Whether you’re looking to upgrade one part of your billing process or the whole enchilada, we can help!
Resources & Articles For Managing Your Finances On Your Own
P2PE devices are PCI-validated technology that keeps cardholder data secure and can take your business network out of scope for a PCI audit and protect your customer’s credit card data.
PCI-validated P2PE solutions encrypt cardholder data and can take a merchant’s network out of PCI scope.
Many providers are finding out too late that the traditional patient billing process is not working on higher balances and significantly more needed revenue is speeding its way towards third-party collections—the last stop before bad debt.
New Patient Study Reveals Fundamental Flaws in Medical Bill Collections Leading to Late Payments and Bad Debt
We asked 675 patients a series of questions about High Deductible Health Plans, the obstacles they face when paying medical bills, and what balances would require them to pay by credit.