855.468.7876

7900 Glades Rd, Suite 340

Boca Raton, Florida 33434

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About

StrongBox = Health provider efficiency, profitability and security.

StrongBox Overview

Our application enhances practice profitability and efficiency in a secure PCI-DSS and HIPAA compliant web-based environment. Our application improves key accounting metrics of health providers (e.g. accelerated accounts receivable days outstanding, significantly reduces bad debt expense, increases collection rates, reduces administrative and billing related costs) and also improves the work flow and the overall environment of the practice. Our communication tools include comprehensive revenue reporting and patient emails to augment and/or replace billing are significant enhancements for practices as well.

StrongBox provides patients with desired payment alternatives to create “self-financed” installment plans as well as third party financing from our pool of up to 15 lenders. Patients can apply for health provider loans in as little as five minutes. This is critical given the continued shift of increasing health care costs to the patients from insurance companies. Patients want and need payment flexibility to receive care – StrongBox provides this flexibility to the patient while helping to minimize the risk of payment for the health care provider.

StrongBox Client Support

Responsive customer service and quick turnaround is a hallmark of the service we provide - we believe this is a differentiation opportunity for the company to help practices adapt to the challenges presented by the rapidly changing health provider marketplace.

StrongBox Quantitative Value Add

StrongBox is executing on a targeted strategy to provide significant value to both the patient (i.e., payment options to receive care) and the practice (i.e., improved financial and business efficiencies). StrongBox's combination of RCM and patient Finance creates a compelling Return on Investment for the health provider in excess of 4,000% - this is unique in any market.

Provider A"We've always done it this way!?"StrongBox Value Creation - Year OneNotes
Gross Annual Revenue$1,000,000$1,050,000StrongBox Finance alone delivers enhanced revenue due to more procedures generted by deeper pool of lenders
Bad Debt Expense %*15%5%Financial instrument stored electronically double end to end encrypted will reduce Bad Debt Expense
Bad Debt Amount $$150,000$52,500Financial instrument stored electronically double end to end encrypted will reduce Bad Debt Expense
Accounts Receivable Days Outstanding > 60 days< 20 daysFinancial instrument stored electronically double end to end encrypted will acclerate accounts receivable
3rd Party Annual Finance Amount % of Gross Revenue10%15%StrongBox deeper credit pool = more care to patients & more revenue to practice
Amount of 3rd Party Financing $$100,000$157,500# of procedures increases resulting from more care to more patients who may be declined by other credit providers
Cost of 3rd Party Financing %10%3%StrongBox charges 3% of loans funded vs. 10% by other credit providers
Cost of 3rd Party Financing $$10,000$4,725Financed $50,000 more in procedures and financing costs have reduced by $5,000
Billing & Administrative Costs$10,000$5,250Envelopes, stamps, billing costs substantally reduced - electroinc receipts generated by software and sent to patient
Credit Card Processing Costs % (Total Processing Costs/Amount Processed)4%2%StrongBox committed to $1,000 in total fees per $50,000 processed
Credit Card Processing Costs $$30,000$15,750StrongBox delivers 2% all-in credit card processing costs vs. processer 4-5% processing fees
Total $200,000$78,225
StrongBox Year One Value Creation$121,775More than $120,000 of year one value created by StrongBox RCM + Finance
StrongBox Return on Investment (ROI)4059%StrongBox delivers over 4000% ROI to Provider Year One
Notes:
Billing & Administrative Costs % of Gross Revenue pre-StrongBox: 1%
Billing & Administrative Costs % of Gross Revenue post-StrongBox: .50%
% of Gross Revenue Transacted with Credit/Debit Card: 75%
StrongBox Finance Related Revenue Add (est.): 5%
* Medical Group Management Association (MGMA) estimates 12-20% of providers gross revenue is bad debt: 15%

Profitability

StrongBox enhances health providers profitability by accelerating revenue, driving revenue recognition and reducing costs.  Key Performance Indicators (KPI) are strong indicators of how effectively, efficiently, and profitably the practice is operating. Failure to measure and analyze KPIs significantly undermines your practice’s potential to maximize long-term profitability.

Strongbox has empowered users to track these important practice numbers. The office manager benefits from this because he or she can provide a more valuable contribution to the practice’s overall success and be more engaged, more satisfied and be vested in the success of the practice.  Through tracking these important KPIs, users have the information necessary to keep practice performance on target.

Four specific, critical KPIs that StrongBox positively impacts and that the office manager should track and analyze are:

Average production per patient and cost per patient

Reduced administrative, collection and billing costs have a significant positive bottom-line cash flow impact for StrongBox users.

Collection rates

StrongBox users enjoy collection rates above 98%.

Accounts Receivable Days Outstanding (ARDO)

StrongBox clients realize ARDO metrics of approximately 25 days.

Bad debt expense

Industry averages for practices are 15%. StrongBox users realize significantly reduced bad debt expense and realize bad debts of 5% or less.

Although, these related KPIs are easy to track, they represent the most important measures in your practice. StrongBox RCM + Finance platform represents a unique and powerful platform and delivers significant returns on investment in excess of 4,000% for our clients.

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Efficiency

A busy practice is not necessarily a profitable practice. A practitioner who comes to the practice each day and sees a full lineup of patients from the beginning to the end of the business day may feel successful because the practice cannot handle any more patients. But if the office manager does not track average production per patient, it is difficult for the practitioner to know whether the practice is as profitable as it should be.

A practice is most effective when it is producing the maximum services for each individual patient versus seeing as many patients as possible in a hectic, frenzied environment.  There is a dramatic difference in revenue and profit for a methodical, measured practice due to the facts that the well-paced and managed practice has the time to present, sell, and deliver more comprehensive provider care. The more methodical practice also will run more efficiently, ideally with less stress because the office manager has more time to focus on the most important tasks in the practice.

StrongBox delivers efficiency and predictability to your practice.  With patients seamlessly checking out and offered options to pay for procedures, more satisfied patients will drive patient retention rates and improve important word of mouth referrals and reviews.

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Security

It’s important to protect the data of your business and your employees. While you may be paying attention to physical security in your business, are you dedicating enough time to protect your information digitally? Between malware threats, remote-access attacks, and social engineering, it’s important to take the proper precautions to keep your computers, networks, and servers secure.

The whole purpose of the PCI DSS is to protect financial information from hackers and thieves. By following this standard, you can keep your data secure, avoiding costly data breaches and protecting your employees and your patients.

StrongBox is PCI-DSS compliant and certified. Our security risk mitigation value drivers are:

  • Double EndtoEnd Data Encryption;
  • Ultrasecure StrongHold Data Vault;
  • Firewalled AWS & Gateway Servers;
  • Tokenization;
  • Readers Utilizing Secure Encryption Key Management; and,
  • Proprietary Provider Designed Cloud Based Software.
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Resources

Privacy Policy

StrongBox eSolutions LLC (“StrongBox”) is strongly committed to respecting the privacy of all persons using this website (this “Site”), and the protection of any personal information which we may collect and which you may choose to share with us. Such personal information will be used in accordance with the disclosures in this Privacy Statement, which is part of and incorporated into the Conditions of Use of this Site. Please note that this Privacy Policy pertains exclusively to information which you provide to us in the course of your use and access of this Site, and does not alter or affect the terms and conditions of any other agreement that you may have or enter into with any StrongBox entity for any given product or service. The other agreement will govern that specific legal relationship. If you do not agree with any disclosure in this Privacy Policy, or have any questions, please do not access the Site, but contact us directly and we will be pleased to assist you. BY CHOOSING TO PROCEED AND ACCESS THE SITE, YOU ARE EXPRESSLY CONSENTING AND AGREEING TO THE COLLECTION, TRANSFER, HANDLING, PROCESSING, USE AND STORAGE IN ACCORDANCE WITH THIS PRIVACY POLICY OF ANY PERSONAL INFORMATION WHICH MAY BE OBTAINED FROM YOU DURING YOUR VISIT TO OUR SITE. You grant StrongBox, its affiliates, and third party providers a non-exclusive, worldwide, royalty-free perpetual license to use the personal information you provide for the purposes disclosed herein. You certify that you have the right and authority to provide personal information on behalf of any other person about whom you have provided such information. When you visit and use this Site, we may obtain various types of information (such as your name and contact information) from you that (1) you may directly provide to us (by inputting information through various interactive features, filling out registrations, submitting inquiries, placing orders, and so forth) or (2) that we will automatically collect during your visit to the site (such as your user identification and password, internet domain or IP address) as part of our normal operation. The personal information you provide will be stored in our systems for our internal use only. We will use such information to provide you with information, goods, services or materials, for internal research, for marketing and data analysis, to send you updates and news concerning StrongBox and its business partners, and to better assist you with any future requirements. It is our policy not to disclose, sell or market personal information to any unaffiliated third party without prior permission. We may, however, change that policy at any time or transfer or disclose such information to our affiliates, divisions, employees, partners, contractors and suppliers, subject to use only as set forth herein. Please note, however, that information you provide will not be considered subject to any obligation of confidentiality. We may disclose information to any person, including any governmental agency, without notice, if we in good faith believe determine that we have a valid business interest in doing so. Part of our data collection process may involve the use of “cookies”, which are small pieces of identifying information placed and stored on your computer by our server which enable our system to more readily “recognize” you when you visit. Cookies are frequently used to enable sites to more efficiently provide service, such as to customize the display to suit your interests, note your interests while visiting our Site, and store information. It is our policy that any information obtained through the use of cookies will only be used internally to better provide service to you and to evaluate and improve the effectiveness of the Site. Cookies will not be used to track your activities outside of the Site or for any purpose not disclosed herein. You may elect not to accept “cookies” by setting your Internet options on your computer; however, please be advised that in that case, you may not be able to access part or all of this Site, or parts of this Site may not operate effectively. Due to the numerous technical and operational uncertainties, we cannot make any warranty, guarantee or representation concerning the accuracy, thoroughness, completeness, or currency of your information, nor over our ability to control, correct, access, handle, process, use, store or transfer such information, and all such warranties are hereby disclaimed. Since we are constantly making changes and upgrades to our systems and services in order to better serve you, and how we manage your personal information may accordingly change, we anticipate updating this Privacy Policy from time-to-time. Therefore, we reserve the right to revise the content of this Privacy Policy in any manner and at any time, without notice. It is your responsibility to check this Site each time prior to access for any changes. While we strive to undertake appropriate and reasonable measures to safeguard your information, please remember that, due to the many technical uncertainties, complete security of Internet transmissions cannot be guaranteed. Therefore, you understand and agree that we are unable to provide any warranty, guarantee or representation concerning the protection of personal information or concerning the existence or effectiveness of any security measures undertaken. We will not be liable for any claims, losses, or damages which may result from access by an unauthorized third party, or the introduction of viruses, worms, or other harmful elements into the system and their possible effects on personal information contained on this Site. IN NO EVENT WILL STRONGBOX, ITS AFFILIATES AND DIVISIONS, AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, CONTRACTORS, SUPPLIERS, VENDORS, INSURERS AND AGENTS, BE LIABLE TO YOU OR TO ANY OTHER PERSON FOR ANY COSTS, DAMAGES (INCLUDING ANY SPECIAL, INCIDENTAL, EXEMPLARY, INDIRECT OR CONSEQUENTIAL DAMAGES), OR LIABILITY OF ANY NATURE, ARISING FROM ANY CAUSE, RESULTING FROM THE COLLECTION, USE, TRANSFER, PROCESSING, HANDLING, CONTENT, OR STORAGE OF PERSONAL INFORMATION OBTAINED OR SUBMITTED BY YOU RESULTING FROM YOUR ACCESS AND USE OF THIS SITE. If you have any questions or comments about this Privacy Policy or the use of personal information, please contact us.