Today’s inflation is wreaking havoc, like the often-bitter storms of winter. Consumers seek shelter by applying for charitable assistance wherever they can. The qualification process can be tedious for consumers and expensive for agencies, hospitals, and businesses to comply with regulatory and provider practices. Few consumers can leap application hurdles on their own; providers struggle to help them.
For years, we (The Intelitech Group) have provided a presumptive charity score to lighten the load and expense for organizations determining which accounts to consider for charity. This presumptive model allows organizations to eliminate labor in identifying consumers whose accounts should be written off, or who could use financial assistance to resolve their accounts and it has a proven compliance track record.
This past summer, we refreshed our charity offering with the recently released income figures from the Census bureau and upgraded our address lookup function. Beyond these enhancements to our own charity data, we now partner with TransUnion to deliver a second charity score that relies on several consumer-based data sources for a small fee.
These two scores reduce labor and expense for existing charity processes, and can supply new revenue or advantage over competition for agencies offering services to healthcare providers. Many of our customers receive the Intelitech charity solution with their score and analytics bundle allowing them to get started without increased expense.
Here are a few ideas we have seen be profitable to get you started:
- Use the charity score as leverage in negotiating a sale – not all organizations can offer this service and it can save your prospect time and money which raises your value to them.
- Charge a fee for a charity scrub – the profitability of this venture is simple; it is another source of revenue, a potential cost saver for your client, as well as another reason why an organization would want to do business with you.
Whether you use the charity scores for cost savings or for profitability, or whether you are investigating whether to take advantage of this service, it is important to remember that these scores are available and ready to work for you. To talk about how you can take advantage of our charity services, please reach out to your consultant, call 360-260-9780, or email us at firstname.lastname@example.org.
I feel like what the model does is to proactively pursue the right consumers for assistance rather than leaving it up to the right consumers to fill out the forms and do it correctly… as well as targeting the consumers that should be written off without additional pursuit.
This could save the organization time and effort if they are pursuing all of the consumers for assistance programs and write-off, rather than targeting them.
This could leverage the same effort and get better results.