There is generally someone in a company who sees the inefficiencies of a practice's current systems, but it's hard to see the big picture when you can only examine so much in a day. Instead of assuming that your company has the billing down to a science though, you can start trying to identify certain patterns in your billing processes.
1. Vague Language
This very well may be the number one time waster at any company for billing, and it's often born out of an inability to consider the fees and charges from a customer's point of view. Many people are already weary of being overcharged, especially if your services are higher than those of your direct competitors. To avoid hours of lengthy conversations with clients discussing and detailing each charge, we would recommend that your billing statements are very clear and in plain language as to what their money is going toward before they have a chance to call. It's common to use jargon in any company, but it's unfair to expect a client to have the same understanding as those who do the billing.
2. Failing to Verify a Realistic Payment Schedule
When a client is having trouble paying for their bills, it can sometimes make for a complicated situation. Whether it’s tuition or municipal services, each method to collect the money requires man-hours that could be better spent elsewhere. Litigation is expensive and may result in an unfavorable outcome. Your business is as much dependent on your clients as the clients are dependent upon your organization. Without understanding who they are, it may mean that you end up wasting a lot of time, money, and effort attempting to work with just a few select people.
3. Making It Complicated
Complicated online payment systems can frustrate clients, and ultimately cause them to question their commitment to your institution. Persolvent offers services such as school credit card processing and ecommerce merchant accounts that aim to take the hassle out of billing. We work with large and small businesses and organizations alike, and our software addresses the common pitfalls of everything from small nonprofits to major healthcare providers. No matter how complicated your services may be or how detailed your products get, we can cut through everything that isn't necessary and refocus your numbers to make sense to the person who ultimately needs to pay.