Otherwise known as traditional collections, Finance System, Inc. has dominated industry standards for over 60 years. For aged and harder to collect accounts, we offer extensive programs with flexible options that allow increased management control. The proven tools used by Finance System, Inc. includes a mix of scoring, credit reporting and effective litigation services to compliment call and contact strategies for maximum results.
These services are provided on a contingency basis, meaning, there are no up-front costs and the client is only charged a small percentage if and when a collection payment is made. Clients may place their accounts with Finance System, Inc. at no cost and we will begin collection activity right away. When applicable, we’ll link these new accounts to the same guarantor and scrub for deceased, bankruptcy, eligibility and presumptive charity-related statuses. Based on our scoring and segmentations methodology, accounts are strategically assigned to automated workflows proven to prompt the right response and result. HIPAA trained customer service professionals are coupled with a call model focused on building credibility and rapport with consumers to assist them towards resolution of their accounts.
Consumers are offered a full service online portal where they can view their current account status, make payments or negotiate a payment plan without human intervention. Our inbound and outbound Integrated Voice Response (IVR) system offers payment options and questionnaire answers via the consumers touchtone phone. We ensure your consumers have easy methods to pay their bill. Inbound call handling by trained agents, automated pay-by-phone, and a convenient online payment portal all work together to get bills paid quickly and increase customer satisfaction while never charging the consumer a “convenience fee”.
Our recovery staff is well trained in collection laws, problem resolution and customer friendly billing practices. Your accounts will be treated with the same care as you would expect from your own personnel. Our bi-lingual collectors help bridge the communication gap that may exist with many accounts as well.
Workers Compensation Claim Management
Finance System, Inc. understands that worker’s compensation timelines and processes are complicated, making it necessary to follow each step in the collection process carefully and accurately to ensure payment. Historically, up to 12% of worker’s compensation claims are underpaid. Denied or underpaid accounts are quickly investigated and appealed. We have the knowledge and the process to successfully collect on these claims, working with the patient’s employer, worker’s compensation carrier or health insurance to ensure that these claims are collected accurately and timely.
Elementary and Secondary Educational Fees
From book, tablet and laptop fees and so much more, Finance System, Inc. can manage the task of collecting various student fees for your educational facilities.
Cleanup Projects
Finance System, Inc. can work on specialized types of A/R on an on-going basis of for one-time cleanup projects.
Legal
When all voluntary collection efforts have been exhausted, legal action can be used to recover your accounts. Finance System, Inc. has a full legal department in house, as well as attorneys in every state we serve. Before placement, accounts are reviewed to ensure that the consumer has a good address, ownership of real property, verified full-time employment and/or is neither indigent, nor on welfare. Only when assets are sufficient and tangible is a recommendation made to refer to legal counsel. Accounts are referred to our legal department when our call center receives several broken promises or no voluntary payment. Written authorization is secured from the client prior to taking action. When litigation is imminent, Finance System, Inc. absorbs all court costs, filing and legal fees. We only request to file suit against the consumers that are fully capable of paying their just obligation, but instead have chosen to ignore or refuse all payment requests.
Finance System, Inc. also works with second and third placements where your accounts were placed with another agency before they are forwarded onto us for cleanup.
