1. ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 ACCOUNTS MANAGEMENT SOLUTIONS FOR YOUR BUSINESS
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3. What the Experts Say ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 “ The numbers speak for themselves – recovery of over $230 million dollars with a 53% recovery rate and an ROI of almost 4,000% with a collection cost of 2.5%.” Steve Hellebush, VP of Business Development, Medical Group Management Association “ The company has a collection rate of well over 50%. The typical collection firm gets only 20% and keeps 25% to 50% of recovered funds.” Fortune Magazine “ Transworld gets credit for the highest recovery rate in the industry.” Barron’s
4. Conventional Two Stage Approach ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Most practices use a conventional, two stage approach: In-House Efforts Percentage Collection Agency According to the Dartnell Institute of Business Research, the average cost to work an account over a six month period is $31.60 Day 30 Day 60 Day 90 Day 120 Day 150 Statement Statement Statement, Letter #1, Phone Calls Statement, Letter #2, Phone Calls Statement, Letter #3, Phone Calls Day 180 Intensive telephone contact and/or legal action at a cost of 25-50% of recovered amounts.
5. GreenFlag Three Stage Approach ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Transworld Systems In-House Efforts Conventional Collection Methods
6. GreenFlag Profit Recovery’s Three Stage Approach ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Fixed fee of typically less than $10 per account. You control the process. Limit internal efforts to less than $10 per account We contact the slow paying accounts every 10-14 days, at the your direction. Making up to 5 contacts, each progressively stronger – Phase I Collections. Optimize In-House Efforts In-House Use of Third Party (GreenFlag) Conventional Collection Methods Current 30 Days 60 Days Statement Statement Phone Call Statement Phone Call 90 Days 104 Days 118 Days 132 Days 146 Days 180 Days Verbal Demands – Phase II Collections 50% Contingency
7. Start Early – Recover More ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Fact: Companies wait to take action because they don’t want to pay a percentage and they don’t want to alienate their patient. Fact: GreenFlag is designed to take action early and diplomatically, recovering earlier and maintaining valuable patient relationships. According to the U.S. Department of Commerce, the older an account, the harder it is to collect.
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12. ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 They may get upset ! Because they were turned over to a collection agency, they may call because they are upset. At this point you may read the telephone script we provide you. WE are the bad guys, not YOU ! Which is more effective, you calling your customer or your customer calling you? Report partial payments if necessary and we will follow up with them for the remaining balance due.
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14. Thank You Letter ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 At your request, we’ll send a thank you letter to your customer, at no additional cost! This will help your business retain valuable client relationships.
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17. Self-Pay Recover Results Example ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Practice Average Balance Average Age Recovery Rate % Response Cost as a % Women’s Group $241.28 4.5 mos 48.1% 70.3% 7.6% Neuropsych $466.44 3.3 mos 38.5% 40.5% 8.8% Birth & Beyond $211.37 3.7 mos 44.3% 61.6% 11.1% Oncology $348.79 7.1 mos 33.1% 42.8% 6.9% Surgery $648.64 3.8 mos 35.4% 53.2% 3.4% Family Med $196.18 5.9 mos 27.9% 39.6% 12.9% Orthopedic $532.19 4.3 mos 46.2% 69.7% 3.2% Pain Consultant $381.59 10.7 mos 31.2% 50.2% 6.7% Combined Average $378.31 5.4 mos 38.1% 53.5% 7.6%
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21. System Size Worksheet ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 At what point would you like to use our service? (i.e., 60, 90 days) ___ ___ __days How many accounts will reach that point every month? ____ _____ Our PROFIT RECOVERY service is good up to 24 months x 24 months Total: _____ ___ Accounts to be referred now: ________ Total number of accounts referred: _________ Total # Accounts __________x Avg. Bal. $ ________ = Total $ Referred ____________ Total $ Referred ________________x_______ (Recovery Rate %) = $ _____________ ________ (Total # Accounts) x $ ________ (Unit Cost) = $_________ (Total Investment) Investment $________ ÷ Avg. Bal. $_________ = ______ (# Accounts to get back investment) ++++++Secondary recoveries!!!!
22. ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 ACCOUNTS SOLUTIONS FOR YOUR BUSINESS MANAGEMENT