- Option-1: Fee rate 4%, collects 85% of allowed amounts
- Option-2: Fee rate 6%, collects 95% of allowed amounts
Let’s do the math and see if you chose the better option.
|Allowed Amount||$ 100.00||$ 100.00|
|Amount collected||$ 85.00||$ 90.00|
|Fee||$ 3.40||$ 5.40|
|Net reimbursement||$ 81.60||$ 84.60|
Clearly Option-2 is the much better choice even though it’s fee rate is a full 2% more than the alternative. Even a 5% higher collection rate delivers a far more attractive return in collections, more than wiping out the difference in fee rates. After all, it is not the fee % rate you save that you take to the bank – it is the amounts collected that you do!
The most common question we get asked by prospective customers is: “What fee rate do you charge?”
We think it is the wrong question to focus on. The real question is “What percent of allowed amounts do you collect for your current customers, on average?”
Sypore customers across the board have enjoyed a collection rate of over 99% in 2017 and we will repeat this performance in 2018!
Come join us and let us show you how you too can enjoy Freedom of Time and Financial Peace of Mind – with Sypore service.