billing and collecting process ©2014 comprehensive finance, llc
TRANSCRIPT
Billing and Collecting Process
©2014 Comprehensive Finance, LLC
©2014 Comprehensive Finance, LLC
Billing and Collecting Process
• Compassionate Finance will auto-debit each patient’s checking or savings account once per month on the day they agreed to.
• We make direct deposits into your checking account once per week.
• You receive email notification when a payment has been deposited into your account.
• Email reminders are sent to patients 3-5 days prior to their payment date.
• Patients can access their account information online or by phone at compassionatefinance.com.
Late Payment Resolution
Soft Collections Process: -Phone calls and emails up to 90 days past due-Repeated ACH attempts to collect missed payment -Patient’s interest rate does not increase
• Monitor the statuses of your patient loans by accessing the “Portfolio A/R Aging” report as illustrated in the Reporting Learning Module.
• Monitor our soft collections efforts by viewing the “memos” posted within the patient’s account in the Compassionate Finance system.
©2014 Comprehensive Finance, LLC
©2014 Comprehensive Finance, LLC
Late Payment Resolution
Hard Collections: At the end of 90 days if no payment have been collected by Compassionate Finance, you will be notified of your options:
1. Suspend collection activity 2. Turn account over to collections
Congratulations!
Click “Next Module” to take the quiz.
©2014 Comprehensive Finance, LLC
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