profit recovery service - soft collections

51
The Outsourcing Solution For Accounts Receivables Payment Automation Network, Inc. In partnership with

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Would you spend a nickel to get a dollar? Of course you would. Now I can show you how you can turn a nickel into a dollar in your business with our MaxCollect Profit Recovery Service.

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Page 1: Profit Recovery Service - Soft Collections

The Outsourcing Solution For Accounts Receivables

Payment Automation Network, Inc.

In partnership with

Page 2: Profit Recovery Service - Soft Collections

MaxCollectTM Service

Outsourcing Solution

Automated

Low Fee

Higher Recovery

Faster Recovery

Customer/Patient Retention

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Understanding Past Due Accounts

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How Your Money Depreciates

0

10

20

30

40

50

60

70

80

90

30 90 150 210 270 330

0

10

20

30

40

50

60

70

80

90

30 90 150 210 270 330

Account Aging in Days

PE

RC

EN

TA

GE

Based on U.S. Dept. of Commerce StatisticsBased on U.S. Dept. of Commerce Statistics

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Status Reports

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29% Recovery

Rate

Average Age

302 Days

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54% Recovery

Rate

Average Age

105 Days

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What Are The Alternatives?

In HouseIn HouseLegal ActionLegal Action

Write OffWrite Off Collection Collection AgencyAgency

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In House

• Costly

• Inconsistent

• Time Consuming

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Legal Action - Hire An Attorney

• Legal Action

• Costly

• Judgment

• Small Claims Court

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Write Off

• No More Costs

• No More Recovery

• “Easy” Reputation

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Collection Agency

• Lost Customers

• Limited Recovery

• Expensive

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The Solution -MaxCollect™ Written Communications

Automated Telephone Call

Attorney

Credit Bureau Reporting

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Online Portal

Online Portal to MoneyQuest• Add and Update

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Up to Four Letters Sent

From the Client

Neither MoneyQuestNor MaxCollect is

mentioned in the letters

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Automated Telephone Call

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3 Attorney Letters Sent

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Attorney Contacts

• Call Placed

• Caller ID

“Attorney at Law”

• Final AT- Demand

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Litigation

• Arrange with attorney

• Contingency plus court costs

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Credit Bureau Reporting

• Unpaid Accounts Reported

• Interface Maintained

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What are Your Results?

0

10

20

30

40

50

60

Gross RecoveryCollection CostNet Recovery

Collection Agency MaxCollectTM

14%

34%

9%

41%

10%

37%

Based on average recovery and age placed for each alternative ...

Page 27: Profit Recovery Service - Soft Collections

Why Does MaxCollect Perform Better Than Other Options?

TOOLS

TIME FACTOR

DIRECT PAYMENT LOW FEE

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Client Fees – The System Written Communications

Automated Telephone Call

Attorney

Credit Bureau Reporting

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One Time - Setup Fee

$495– Web based input and

reporting system

– Retains Attorney

– Credit Bureau Reporting

– Staff Training

– Customer Support

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Processing Fee

• $12.95 per account

• 7 letters every 14days

• Thank You Letter

• Auto Phone Calls

• Offset by Delinquent Billing Fee

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Time Driven Fee Schedule

Days/Aging 1-60 61-120 121-180 181-365 366-731 Attorney

Fee Percent

5% 10% 15% 20% 25% Phone, etc. 25%

Litigation 35%

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Convenient Monthly Billing

• Account Processing

• Client Receives Payment

• Stop Action

• Billed Resolution Fee

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Customer Service

• Web Based 24/7 Access

• Initial Call to Review

• Periodic Contact

• Printed and Online Help

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Features that BenefitHealth Care Providers

• Website – Password Protected 24/7

• No Software Needed

• Detailed Reporting and Sorting

• Easy Submission and Easy Reporting Payments

Page 35: Profit Recovery Service - Soft Collections

Features that BenefitHealth Care Providers

• Settle an Account – No % Penalty

• Recall an Account – No % Penalty

• Short Hold an Account – No Tickler File Necessary

• Additional debt while in Process

Page 36: Profit Recovery Service - Soft Collections

Features that Benefit Health Care Providers

• Aging based on Last Financial Activity

• Maintaining Relationships – 30-60-90days

• Thank You Letter – Maintain Patient

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Collection Agencies vs. MaxCollect™

• Collection Agencies1. High Cost – from 30% to

50%2. Accounts skimmed, based

on balances3. Loss of Control – agency

receives payment4. Lack of detailed reporting to

client5. Limited recovery due to lack

of impact – no implied harm to credit

6. Loss of customers – most are offended

• MaxCollect ™1. Much Lower Cost – low as

5%2. All accounts worked equally,

regardless of amount3. All money paid directly to the

client4. Detailed monthly reports;

access 24/7 on website5. Increased recovery with

credit bureau, attorney letters, phone calls, litigation

6. Maintain customer relations by sending “Thank You” letter

Page 50: Profit Recovery Service - Soft Collections

The Next Step

• Contact Payment Automation Network, Inc. to sign up for the service

• Complete the paperwork – Agreement– Attorney Retainer

• Issue check for $495 to MoneyQuest Corp

• Start recovering past due accounts

Page 51: Profit Recovery Service - Soft Collections

Payment Automation Network, Inc.

• Call toll free 800-813-3740

• Email [email protected]

• Visit us on the web www.PaymentAutomation.net