Enter the Good Guys
There has long been a disconnect between healthcare companies and the people who use their services… and it doesn’t happen in the waiting room or on the exam table. This disconnect usually happens during the billing stage, through no fault of the company, its employees or its customers; it’s simply a lack of communication, flexible mobile billing and organized dispute resolution systems.
Statistics say that one in five American households have difficulty paying their medical bills and many of them forego follow-up treatment because they can’t face the people they owe. But what does that mean exactly? Are they unable to pay any portion of the bill? That seems unlikely. It’s much more probable that they simply can’t afford to pay all of their medical bills upfront so they avoid the issue altogether. Couple this problem with the lack of communication, follow-up and payment options from healthcare providers, and it’s no wonder that nearly two-thirds of medical debt goes unpaid.
What Can You Do?
As a healthcare provider or employee, you may be wondering if there’s anything to do about the problem. We all know that bad debt write-offs can significantly affect a company’s bottom line. That’s why the industry standard for past due bills is to move them to collections.
Then, of course, there’s also the problem of collection agencies: Do they actually work or do they only frustrate customers and ruin credit reports? Unfortunately, it seems to be the latter. Medical debt is often sold for a penny on the dollar — mostly because it’s nearly impossible to collect, even for agencies who specialize in this service and charge exorbitant fees for it. Of course, that doesn’t stop the agencies from trying, leaving bad marks on credit reports and ruining customer loyalty as they do so.
What’s the Alternative?
Enter’s goal is to be the “good guy” in this situation by maintaining your doctor/patient relationships while also boosting your collection rate. Our mission is to keep people and patients out of collections by efficiently enabling you to recover your past-due revenue.
We do this by using the following for the benefit of your company:
- Advanced Machine Learning: Using the latest technologies, we automate your past-due receivables system, leaving you free to focus on other important tasks. Your Enter Dashboard will keep track of your customers, their balances and their payment history. All you need to do is update new overdue accounts.
- Artificial Intelligence Communications: Using advanced machine learning Enter is able to understand which communication format the customers usually prefer based on demographic information. Each customer has different communication preferences and Enter knows when to email, text, call and letter on your behalf.
- Mobile Billing With Interest-Free Payment Plans: We offer customers the ability to pay quickly and easily from their smartphone with mobile billing. If they can’t pay the full balance right away, that’s okay — we also offer interest-free payment plans, and we’ll work with their budget to find an arrangement that works. After all, it’s much better for your company to receive regular payments than to never be paid at all.
- Centralized Digital Dispute Management. We keep all of your customer communications centralized in your Enter Dashboard. If a customer replies to an email or an SMS and has a question about their bill, you can reply, update and send a new invoice. Get paid quicker while leaving your customers happier.
Using these methods, Enter currently has a recovery rate of over 28 percent. This rate is much higher than the typical collection agencies and we charge a fraction of their fees.
Best of all, by using Enter you’ll experience:
- Higher customer retention rates. The friendly and engaging language provides transparency to encourage them to take action on their past due bills. Unlike collection agencies, we aren’t likely to upset your clients; in fact, our methods may actually increase customer loyalty. This, in turn, increases the average customer lifetime value to your company while also reducing your customer re-acquisition costs. It’s a win-win scenario for everyone.
- More time. Think of all the time you would have if you weren’t focused on collecting past due bills. You could use that time for other business tasks or you could spend fewer hours at the office and simply relax at home.
- Regular income. Enter pays businesses every day. That means you’ll get your money as quickly as possible. You don’t spend time waiting on checks in the mail.
- Ease of access. We made our business dashboard as easy to use for businesses and their customers. On the business side, you’ll have real-time access to key data, including who has paid, how much they have paid, the progress made on each account and more.
- Transparent pricing. We use simple pricing with no upfront costs or maintenance fees. We get paid when you get paid because we only believe in payment for delivered value.
As of today, over 77 million Americans have damaged credit due to collections. Enter’s mission is to intelligently capture more of your revenue so your business stays on track and your customers’ credit stays intact. If you’d like to learn more, please visit the Enter website for a short product video or sign up for free and get started.