We want to ensure that you collect payment on every single invoice. We have included a payment collection process within smeMetrics to enable this for your private practice.
In order to enable this, we have included the following features in smeMetrics:
1. All emails and correspondence comes from smeMetrics. This has a hidden benefit of ensuring that you can split out your financial from your therapeutic or business relationship with the client.
2. We have a dunning process which sends out payment collection notices for all overdue invoices. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable. We use email to communicate these notices. The actual emails sent can be found under Settings and My Mail Templates.
3. We have a mechanism to pass your overdue invoices for debt collection. This is an external solution, and is paid for separately. The reason for this is that debt collection is a specialized function and much more intensive process. We are a software solution provider.
The notice periods for the dunning and debt recovery processes are specified under Settings and My Dunning Process. It is important to note that the time periods are based on the date that the invoice is actually marked as overdue (this is a configuration option for payment terms under Settings and My Invoice Info).
The reason for us including the debt recovery as an option on the software was that we found that many clients needed to use this option anyway. By including it as a status for the overdue invoices, we could track these requests and possibly partner with a similar provider to make this possible. The previous partners that we’ve used charged the service provider 15% of the overdue invoice (if they collected the payment) and an administration fee. However, the service levels were not congruent with our own, and we needed to look for alternatives. We do have good alternatives now and if this is something you want further information on, enter your details below and we’ll send you the relevant information.