Download - 2014 TSl General Overview DDS
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Your Cash-Flow Partner
Presentation for:General Medical or Dentistry
Scott Miller
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Objectives for Today
● Introduce Transworld Systems● Get an understanding of your
business● Discuss the four payer types● Review some new cash-flow
solutions ● Discuss recommendations & next
steps
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The Creditor’s Bill of RightsI.All businesses deserve to be paid on timeII.Extending credit is a courtesy and should not bring financial or regulatory risk to a businessIII.All businesses should be able to focus on what they do best, free from the burden of collectionsIV.Unpaid bills negatively impact employment, prices, expansion, the cost of borrowing, and opportunity.V.Businesses should not have to forfeit their profit margins to get help with their cash-flowVI.Late-paying customers should be held accountable to their obligations in a dignified, lawful and respectful manner
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What We Do for Our Clients
① We have been delivering progressive cash-flow solutions to businesses and medical practices of all sizes since 1970
① We have assisted over 200,000 clients in resolving $6 billion in A-R, helping them to eliminate their need for traditional collection agencies and attorneys
① Our services are based on a fixed-fee averaging $10-16 per account, no matter age or balance
① Our services are fully compliant with all regulations affecting 1st & 3rd party collections
① Our services allow our clients to react quickly and appropriately to slow paying accounts
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Some of Our Clients
* Plus over 40,000 small and medium-sized business nationwide
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Let’s agree on a few things
Consistent, effective follow-up can be challenging and expensive
Most businesses would prefer to never have to use a collection agency or attorney at all
The older an account gets, the harder it is to collect
“It costs a business approximately $31.60 per account to follow up on a past due accounts internally.” Dartnell’s Institute of Business
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The Impact of Uncollected Money
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Early Intervention Pays Off
Source: U.S. Department of Commerce
Account Collectability
Total Days Delinquent
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The FourPayer Types
Here is what we know:➔ There are four types of payers➔ You deal with all four➔ They all require a different approach
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Statement
Reminders3rd Party Impact
Professional
Collectors
Deliberate
Disrespectful
Distracted
Dutiful Pay upon receipt
Objective: Identify the Disrespectful & Deliberate payers as quickly and inexpensively as possible
The Four Types of Payers, and What Makes Them Pay
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1. For Distracted Patients• We execute 5 polite reminders in your businesses
name• Over a 35 day timeframe• You pay an average flat fee of $14 per account• Less expensive than sending
statements/letters/phone calls
For Distracted Payers
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For Disrespectful Payers
• We make five mixed-media 3rd Party Collection Demands
• You will recover from many accounts as soon as a 3rd party is involved
• You pay an average flat fee of $14 per account
• All collected money goes directly to your business (this is instant cash-flow)
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We even say “Thank You” for paying
Optional&
Free
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For Deliberate Debtors
• Our national team of professional collectors will turn up the heat on high-risk accounts
• Services include: skip-tracing, asset discovery & legal efforts
• Contingency/percentage based fee structure• Submit accounts and access reports from your
Online Client Portal (OCP)
It is time for the professional debtors to deal with professional
collectors
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Five Collection Demands
Professional Collectors
Your Initial Statement or Invoice
Five 1st Party Reminders
We Offer a Progressive
Staged Approach to
Account Resolution
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Online client portal for submitting and reporting * demo available upon request
Free Client launch & support24/7 AccessFree training for your staff
Easy to Use
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We Interface with the Top Billing Software Platforms
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We Are The Compliance Leader
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In Conclusion, our solutions:
▪ Reduce internal follow-up expenses▪ Lower your days in A/R▪ Have the fastest ramp-up time in the industry
▪ Ensure 100% regulatory compliance▪ Collect more money… much faster▪ Are guaranteed to work for you
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Selling Resources
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Account Resolution Snapshot for an Example Client
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TSI Collections Benefits
▪ We utilize some of the most sophisticated technology in the industry. ▪ All accounts are scrubbed for bankruptcies, recently deceased, and the National Change of
Address (NCOA) database.▪ Accounts are skip-traced electronically to ensure we are using the most up-to-date contact
information available▪ All accounts with balances greater than $100.00 are appended with full credit bureau
reports▪ All accounts are initially scored and segmented before being worked. This ensures optimal
results are achieved.
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Mixed Media Create Urgency
Contact 1:Diplomatic Reminder
Letter
Contact 2:Diplomatic Reminder
Call
Reminder Call #1:
Hello. This is not a telemarketing call. This is <TSI Client Name> calling regarding your account and a letter we recently sent you on <Date>. This message is for <Debtor Name>. Please contact us at your earliest convenience at <Phone> and reference your account number <Account>. Again, that’s <TSI Client Name> at <Phone>. Thank you for your immediate attention to this matter. To be connected to a representative, please press 1
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Technology Makes a Difference
Contact 3:Diplomatic Reminder
Letter
Contact 4:Diplomatic Reminder
Call
Reminder Call #2:
Hello. This is not a telemarketing call. This is <TSI Client Name> calling for the second time regarding your account and a letter we recently sent you on <Date>. This message is for <Debtor Name>. Please contact us at your earliest convenience at <Phone> and reference your account number <Account>. Again, that’s <TSI Client Name> at <Phone>. Thank you for your immediate attention to this matter. To be connected to a representative, please press 1.
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Contact 5:Final
WarningLetter Puts patient on notice that
they may be subject to further Collection activity if they don’t pay now.
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42 Years of Proven Success
Making Cash Flow®
Demand 1 – Diplomatic, Intensive orBad Check
Options
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Demand2
Or Choose A Call
Profit Recovery Call:Hello. This is an important message from Transworld Systems, a debt collection
company. This is an attempt to collect a debt and any
information obtained will be used for that purpose.
We are calling in reference to a letter we sent you on <Date> regarding our client <TSI Client Name>. Please return the call to <TSI Client Name> at <Phone>. Again, that’s <TSI Client Name> at <Phone>. When calling please refer to your id code <Account>.
Transworld Systems is a debt collection company and any information obtained will be used for that purpose. Thank you. To be connected to a representative, please press 1.
.
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Demand3
Driving Urgency
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Demand4
Or Choose A Call
Profit Recovery Call:Hello. This is an important message from Transworld Systems, a debt collection
company. This is an attempt to collect a debt and any
information obtained will be used for that purpose.
We are calling in reference to a letter we sent you on <Date> regarding our client <TSI Client Name>. Please return the call to <TSI Client Name> at <Phone>. Again, that’s <TSI Client Name> at <Phone>. When calling please refer to your id code <Account>.
Transworld Systems is a debt collection company and any information obtained will be used for that purpose. Thank you. To be connected to a representative, please press 1.
.
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Demand5
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ThankYou
Letter
Optional Thank You Letter
(Remember, no credit
reporting done during Profit
Recovery – we are looking to maintain your relationship with your patients)