It makes more sense to try a free collections method first.
It doesn’t cost anything to try to collect with CareCap, as fees are only paid when payments are made. Using CareCap to collect past due receivables results in higher collection rates, at a lower cost. Plus, you can maintain the consumer relationship. If CareCap doesn’t work, you’ll still have traditional collections as an option, so why not give it a try.
Automated notifications and reminders lead to faster payments and fewer overdue bills. E-invoicing automates billing and sends notifications that payment is due and continues with automatic reminders until payment is made.
Unlike traditional collections methods that can include tactics that ruin your relationships with consumers, Consumers appreciate that you are offering a friendlier alternative; this creates strong bonds and lasting consumer relationships.
By utilizing our flexible payment options, combined with our automated notification and reminders, consumers are better able to afford to pay their commitments.
CareCap fees are significantly lower than traditional collections agencies. You only pay a small merchant fee, comparable to your current credit card processing fee, when payments are collected from your consumer. If payments aren’t collected, you pay nothing.
CareCap is the perfect solution for handling past due accounts receivable without involving a collections agency. After sending letters offering CareCap, 21 of 22 patients signed up to pay off their balances, representing 98% of the amount we were pursuing.— Dr. Dave
Step 1 of 3: Offer A Way For Past-Due Consumers To Pay
CareCap automatically notifies your consumer when you offer them a payment plan as an alternative to a more aggressive traditional collection agency.
Step 2 of 3: Consumer Accepts Payment Plan
Your consumer accepts the payment plan and enters their debit or credit card information.
Step 3 of 3: Receive Your Money
Your consumer’s payments are deposited directly into your bank account.
Talk to a consultant
Let us help. Talk to our consultants about your A/R process or collections needs and they will share best practices to make things simple and tailored to your situation. Sign up to get started.