The gold standard for senior living communities revitalized its AR processes with Paystand and achieved a 60% decrease in transaction fees and a 25% increase in productivity.
Edgewood wanted to offer their customers an easy, efficient way to digitally autopay their monthly care costs. But the solution had to integrate seamlessly with NetSuite and ease the workload for their finance team.
Paystand helped Edgewood craft a better payment experience with simple one-click payments, decreased errors by 99%, and helped eliminate manual labor through targeted automation.
“It’s almost creepy how easy Paystand makes my job. It’s unbelievable how automated it is. It’s been an even better experience than we anticipated. . . We just fully trust Paystand.”
Founded in 1992, Edgewood Healthcare began as a simple, yet innovative facility determined to make a difference in the lives of their residents. Fast forward to 2022; today they are the gold standard of senior healthcare communities, with over 3,000 employees and almost 4,000 residents in their care. This growth created some challenges, especially in the payment process, which didn’t match the culture and positive experience they have meticulously crafted for their residents.
In 2020, Edgewood Healthcare migrated over to a new ERP (NetSuite) and were immediately looking for a payment option that would easily integrate. They wanted to offer their customers an easy, efficient way to digitally autopay their monthly care costs. It was also important to find a provider that could support multiple subsidiaries and different payment types.
“We had more of a blind payment experience, which wasn’t impressive to or trusted by our customers. Our solution at the time created a very manual, intensive process. My team would cringe when they saw a payment come through.”
After looking at over 10 other solutions that didn’t ease the workload or provide the trusted brand experience their customers had come to expect, they were recommended to look at Paystand by their implementation manager at NetSuite.
Edgewood Healthcare needed a solution that would take the manual work off their team’s plates so they could focus on watching for transactions to post and building relationships with their customers. The ideal solution would need to have reconciliation done by month end - on time, every time - and have no offage. Paystand was the only option that allowed them to pass along the convenience fees to their customers.
Edgewood Healthcare prides itself on doing everything they can to serve their loyal residents and community. Understanding that the customer experience, company costs, and employee stress levels were not what they’d hoped led them to invest in the digital future of their company.
Since working with Paystand, Edgewood Healthcare has been able to scale their AR processes, saving over a week of manual labor for their staff. They have reduced payment transaction costs, decreased the stress and frustration faced by the AR team, and seen customer adoption, transparency, and satisfaction rise. Paystand has made their AR go so well that they’re pushing up their timeline for going paperless on payments to January of 2023.