In this article, we will be looking at the new Kitrin IsoDebt Debt Collection Software for Healthcare Professionals. For the last few years, we’ve been working very, closely with healthcare practitioners. And one of the things that we have come across that seems to be quite a regular area of discomfort or difficulty is debt collection.
Firstly, this isn’t really what most practitioners are comfortable doing or want to do. But secondly, it tends to interfere with the therapeutic process. So with that in mind, we started working on how could we bring something in that would alleviate that pain point.
Why would a healthcare professional use debt collection software.
Most healthcare practitioners in private practice are tired of overdue invoices, and really just not sure of what the next step is. As we have said before, sometimes being the only person doing the admin and the therapy and everything else, is really difficult .
It is also difficult to have a therapy session with somebody on Monday and have to phone them on Thursday about an overdue account. Because when they come in to see you for that next appointment, that that therapeutic relationship isn’t quite there. In a perfect world, every single invoice in your private practice would be paid. But in reality, this seldom ever happens.
Now, there are several reasons that this might not happen. That could be you just actually haven’t gotten around to sending the invoice. But more often than not, and let’s be fair, let’s defend our clients here quickly. It’s normally not an intentional behavior. People don’t deliberately not pay a bill often and they fully intended to make the payment. And then something came up, the phone rang, that went into a meeting, whatever happened.
But once an account becomes overdue, or somebody goes into debt. And let’s be very honest they’re going to be listening to the people who are screaming the loudest to get the attention. And in our experience, healthcare practitioners in private practice, very seldomly scream the loudest to get the attention on their unpaid invoices. They tend to sweep them under the rug, or just let that account grow and grow. And that becomes a really difficult situation to be in as a business owner. Because you’re basically bleeding money, because you’re not screaming loud enough to get the account settled.
Reactive vs Proactive Debt Collection.
Another thing that we found when it comes to overdue accounts, is more often than not people tend to be reactive. So we suddenly see that Peter’s got an account that 60 days overdue. We react, send him a email, an SMS or give him a phone call. But no messages or notices have gone to Peter before this happened. So now there’s that reactive response.
And obviously when happens Peter’s defenses go up. And Peter is going to be upset this is the first time he is hearing about the overdue account. He is going to ask “Why haven’t you told me before”? Or tell you that he didn’t know his medical aid hadn’t paid the claim. This is all true if you have not communicated with him about the account he would have been unaware that it was overdue.
The other option is that proactive response. I’ve spoken about this a good few times in conversations about debt collecting. It’s about having that very clear process, following that process, following that timeline and making sure that the notifications are going out when they should be. And when you’re doing it as a proactive process. Things work very work a lot better. And we firmly firmly believe in a proactive and a consistent approach to your unpaid management is just going to change that whole experience of dealing with the unpaid and overdue accounts.
IsoDebt debt collection software will allow you to have that consistent approach and follow your predefined timelines. This will ensure that you are proactively rather than re-actively following up on those accounts.
Key Benefits of IsoDebt Debt Collection Software
Our cloud based unpaids management software, IsoDebt, offers you the following key features and benefits which rival many of the features that similar debt collection software and practice management software offer.
Cloud Based Software::
IsoDebt is a cloud hosted solution with no maintenance costs or hardware costs. So this means you don’t have to buy a program and have it installed on your PC. You can access your software from wherever you are. And you don’t actually have to have anybody come out to maintain or update the systems.
Cloud based also allows you to have easy access to your software from any device. This ensures that you can actually run your software from anywhere, if you’re sitting in the airport, and you very quickly need to load a payment or send a notice because it’s heading towards month end, you can do it there.
Real-Time Dashboards and Reports ::
Something that many practitioners have said is they don’t really have an idea of what is overdue. Or how much is overdue in 30 days, 60 days or 120 days. So what we did with IsoDebt was we put in real time dashboards and reports. This kind of reporting ensures that you as the owner have your finger on the pulse and can see what is happening at any given time on your bad debt book.
Multiple Communication Channels ::
We all know that we live in a digital age, everybody’s really busy. Many people these days don’t actually answer their phone because they screen their calls. In fact many people would rather get a text or an email as it gives them time to respond rather than being blindsided by an unexpected phone call.
By using multiple communication channels you can send notices to a debtor via email, SMS or WhatsApp. This means that your notices are being sent on three of the most popular communication channels.
Automated Reminders ::
The larger your bad debt book is, the more difficult it becomes to manage the volume of reminder messages that need to be sent. With automated reminders you have the peace of mind of knowing that the reminders have all been sent.
The ability to automatically send a reminder to follow up on a payment agreement means that you dont need to be checking daily that notices are sent. if a client fails to honor an payment agreement the notice is sent without you having to remind someone to send it. Being able to send those automated messages really, does make a difference in your practice.
Customizable Messages ::
With IsoDebt you can fully customize the messages that are sent to your clients. This means that you can customize the messages that you want to go out for a gentle reminder, or a payment reminder or a broken payment agreement. Or maybe you’re running a settlement offer, you can send a message to everybody, if you settle the accounts within the next 30 days, 20% off. Customizable messaging puts you in a position where you know what’s going out. And if you want to change or tweak something you can.es you the ability to do so.
We wanted to make a software that was easy to use, easy to read. And more importantly, that just gave you the visibility that you needed in order to be proactive on your unpaid accounts.
So you can set your system to say when you want certain notices to go out. And it’ll look at the age of the account. So if you say, gentle notices should be sent out on 20 days, it’s looking at the number of days overdue, And only send the gentle reminder notice to any unpaid account on 20 days. When do you want the first notice, or second notice to be sent? You can set IsoDebt so it does that for automatically. If a patient is on a payment plan, IsoDebt will automatically send them a reminder to make that payment. So those are just some of the benefits of IsoDebt.
We are really happy and proud that we are able to bring a solution out that caters for smaller businesses. More than anything, because we looked there’s a lot of really great and phenomenal debt collection software out there. But its catered to the debt collection industry. So the call centers and that kind of thing. And unless you’re in a position where you’ve got five people chasing your accounts, you don’t need a system that large or more importantly, that expensive.
But what you do need is a way to manage your unpaid accounts . So if you’d like a little bit more information about Isodebt, or you’d like to book a session to do a demo with for the team click on the button below.
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