In the past, hospital have utilized automated calls and effective agents to receive payments from overdue accounts. These days, we have the advantage of automated digital options, including email and apps to help remind customers of their bills. One method has risen to the top recently, the SMS authorized payment.
Due to the explosion in mobile traffic, companies are turning to SMS as the principal way to reach the bearers of overdue accounts. Everyone has a mobile phone, and since they tend to carry them at all times, this has made the method of SMS authorized payments very attractive to many industries.
“Collections agencies and companies alike are now reporting that SMS strategies for collections have the highest rate of successful repayments.”
The benefits are clear. SMS authorized payments reduce costs, while providing a superior customer experience. Studies show that SMS payments cost companies about one-quarter of the amount required for automated voice services, and only a tenth of what it costs to pay an agent to secure collections.
Can SMS Notifications improve collections and payments.
In addition, customers prefer digital contact rather than with a direct agent. There are many reasons that companies are leaning toward digital contact: Agents can be more difficult for customers to interact with, and digital methods are less embarrassing and intrusive.
Options must be provided for each customer: should a customer decide to pay using another method, the lender should work to allow for these changes. As always, any and all payments must be allocated by the collections system, regardless of method.
SMS technology is also one of the easiest methods to incorporate into established collections systems. Once receiving the SMS past due alert, the customer can pay by phone or click through to the website in order to create a payment plan, chat with a live agent, and schedule future payments. It is on the website that the customer should be given the option to manage their payments through SMS authorized payments according to their schedule. Creating ease-of-use online will drastically impact your opt-in text list.
All in all, SMS authorized payments are the wave of collections and payments future. Consider the benefits to your organization, and the peace of mind you will provide for customers.
How Scrubpay Works?
Scrubpay provides SMS and email notifications when your next payment is due – taking the worry out of paying your medical bills on time and allowing you to better manage your healthcare expenses – How it Works?
SMS/Email Notification: Sign up though our smart-link via email or SMS smart-link notification to view your current balance.
Secure Payments: Scrubpay provides a secure, easy to use payment application to give you the highest level of security for your transaction.
Flexible Payment Options: Make full or partial payments on your outstanding medical bills using Scrubpay’s flexible payment options.
eReceipt in your Inbox: You’ll receive an eReceipt emailed directly to your inbox from Scrubpay.