4M Superior Solutions
Calculate Your Savings
See your savings using our Electronic Fund Transfer (EFT) workflow.
Instructions:
Complete the fields listed under "Enter Your Numbers Here". Do not use decimals.
| Electronic Fund Transfer | Average Provider Without EFT | Average Provider Using EFT | Enter Your Numbers Here | Description |
|---|---|---|---|---|
| Number of Outstanding Accounts Annually | 100 | 100 | |
iTotal number of patient accounts with balances outstanding during the year. |
| Average Outstanding Balance Per Account | $400 | $400 |
$
|
iAverage unpaid balance carried by each outstanding account. |
| Total Amount of Money Outstanding Annually | $40,000 | $40,000 | $40,000 | iAnnual outstanding balance total before collections or EFT recovery. |
| Percentage of Outstanding Balances Never Recovered | 45% | 3% |
%
|
iThe share of unpaid balances you never recover under your current process. |
| Annual Lost Revenue from Accounts Not-Collected | $18,000 | $1,200 | $18,000 | iEstimated revenue lost each year from unpaid balances under your current system. |
| Revenue from Outstanding Accounts Recovered Annually Using EFT | $16,800 | $16,800 | $16,800 | iEstimated additional revenue recovered by reducing unpaid balances with EFT. |
| Number of Patients Rejected Annually that Cannot Pay but Would Have Qualified for EFT | 40 | 0 | |
iPotential patients lost due to inability to pay upfront who could have used EFT. |
| Average Amount Billed to Each New Patient | $700 | $700 |
$
|
iAverage revenue opportunity for each new patient visit or case. |
| Annual Revenue Lost Due to Rejected Patients as a Result of Credit Risk | $28,000 | $0 | $28,000 | iRevenue lost because qualified patients could not be served without a payment plan option. |
| Revenue From Credit Risk Patients Annually Using EFT | $28,000 | $28,000 | $28,000 | iRevenue that may be captured by converting rejected credit-risk patients to EFT plans. |
| Total Combined Income From EFT Annually (Outstanding Balances + Credit Risk Accounts) | $44,800 | iCombined benefit from recovering more balances and saving more patient revenue through EFT. | ||
Outstanding Balance Total
$40,000
Recovered From Outstanding Accounts
$16,800
Total Combined Income
$44,800