RapidPay will send a series of up to 4 Automated Voice Payment Reminders (AVPR) to your patients with low balances. Research confirms that repeated Voice Payment Reminders increase your collection rate and accelerate monthly cash flow . . . without mailing time-consuming and expensive invoices.
One-third of all small patient balances are written off as "not worth" the effort and cost to pursue. Writing off a few small balances will not affect the net profit of a practice. However, due to the overwhelming volume of low patient balances, if they are not collected, it will dramatically hurt the year end net profit of a practice.
By automating the billing process on low patient balances, collection costs can be reduced by more than 50%. Also, by contacting patients early in the billing cycle you can reduce Days Sales Outstanding (DSO) by 50%. Our Voice Payment Reminders are extremely cost effective on low balance accounts.