Hello everybody. This is Dr. Bob Hoffman from The Masters Circle Global. I hope you’re doing fantastically well, um, life is great and grand, and today we have an amazing interview for you of something you want to pay attention to. Let me just tell you that right up front. Um, so many doctors of chiropractic. I speak to day after day after day for 40 plus years, struggle with the finances. They either lower their fees, or they put people on payment plans that they can’t afford. Patients drop out, and there are solutions. There are really good solutions and there are some not so great today. I’m gonna share with you a great, so the master circle global has had an ongoing strategic Alliance with clear gauge for almost a decade. And I have to tell you that every one of our clients that use them love them. They get more patients to commit, to care more patients, to be compliant and follow through on the program of care. And the doctor actually gets paid his or her fee. What a concept that might be. So today we’re gonna have a conversation with Matt Meyer from clear gauge, Matt. Welcome on.
Thank you. Thank you for having me.
It’s my pleasure. And, um, I think first Matt, where I’d like to start is could you, you just spend a minute who is clear gauge, what do you do? Who do you serve? Or what’s your business model?
Yeah, no, that’s great. That’s always a great place to start. So first off, you know, I, you know, we started back in 2009 and really our, our mission is, you know, making healthcare more affordable and transparent for everybody. And one of the things that really makes this difference is our level of compliance. We are a registered payment facilitator. We have PC one level certification, uh, we’re HIPAA compliant because we’re in the healthcare space, we’re also lender compliance. So there is that very unique aspect that we offer that piece of mind of compliance. Um, but we are an entire platform, so we’re not just a, a lender. Uh, we help you engage clients with our treatment estimation tool by providing, uh, pricing transparency up front, helping convert clients with our patient financing program. Um, we also help you get paid with, uh, our payment solutions, which is all digital payments.
And so really at the end of the day, who are we helping? It’s both provider and their patients, cuz we’re giving the provider the tools to provide their service, to make people feel good again, and you know, provide that service and not be the bank and take that stress off of them. But it’s also giving that stress free peace of mind to the patient, knowing that they can afford the healthcare that they need to improve their life back to normal. So that’s, you know, the best thing of it all is it’s one and win for everybody,
You know, in a perfect world, we have to create so much value for the care we’re rendering that money. Shouldn’t be a price. You know, I, I often use the analogy, the same person who’s unwilling to pay 50 or 60 or 80 or a hundred dollars for a visit. If golf forbid, something happened to their cat and the cat needed $1,800 worth of surgery, they’re gonna do it right. But the reality is is that, especially since the pandemic, people are on edge, you know, they’re just, they’re less trusting, less believing. They’re willing to tolerate more pain and we’ve gotta come up with better creative solutions to make care affordable without having to reduce our fee or worse, reduce the recommendations we’re making. Right. And that’s why I think clear gauge is such a, an instrumental partner that every day doctor of chiropractic should be working with. So Matt, tell us a little bit about how the financial financing program actually works.
Yeah. So I’ll kind of give background where it came from, cuz this is a newer program for us. Um, it actually came from COVID. Uh, we sat back and we listened pretty much the entire year of 2020 once COVID hit, uh, we surveyed our thousands of clients, uh, across the us and we took the top five, six answers and we created a, a, a financing product that makes sense of what, or what is, what are they needing? What are people wanting? And so this program, it provides increased approvals with the provider to approve up to a percent if they choose to. But also again, you know, we’re also serving their patients. So we, we wanted a quick and easy application process. So it can be done from a mobile device right there in the office. It pre-qualifies, uh, without impacting credit score. So we do a soft pull on the credit for the patient so they can at least see what they qualify for. But more importantly, we provide them multiple options. Um, they are pre-approved so it’s not a take it or leave it scenario. We give them the ability to kind of take the steering wheel of what makes sense with their budget, with providing multiple terms. And then we also give them six months, same as cash with every offer. Uh, and then the practice is funded within two business days. So it’s a very unique product because we’re keeping in mind, both the practice and the patient in the same aspect for one product.
Listen, I was a big fan of clear gauge before the pandemic in the old model, you guys were doing an amazing job, but the improvements, the refinements to getting rid of the points of friction. Yeah. Uh, figuring out what the touch points are to best serve the doctor to best serve the patient. And I, I just think you’ve done a phenomenal job and I really want to acknowledge you guys.
Thank you. Yeah. I mean, it’s, I mean, we just sat back and listened. We just that’s how you evolve. Right. Like we didn’t know the answer. So we wanted to get
’em that that’s good business. Not everybody knows that. Yeah. So why don’t you share with the people why and listening to this, how this new financing solution differs from the old program?
Yeah. I mean, it’s really simple. Um, when you think about it, our old pre-funding product, we made the, the provider, the lender, um, and we, the practice is the one that charged the interest cuz we weren’t a true lender at the, at that point. Um, the maximum loan amounts we would give were up to 5,000 with no promotional, um, you know, financing available. And it was really expensive to be honest with you for the practice. So, you know, now this new product is we’re the lender. We went and got a bank sponsorship, medallion bank. Um, so they’re the ones charging interest. It’s a true non-recourse loan. Um, so it takes all the stress off of the provider. So you provide the service, it’s a loan between clear gauge and your patient. Uh, we go up to 10,000 on our loan amounts now and we give the option of down payments to give more flexibility. And then we also provide those same as cash promotions as well.
One of the things that I really love about this, that you guys don’t really talk about a lot is that you’ve restored the doctor patient relationship because what was once called the doctor patient relationship became the doctor, patient insurance company relationship or the doctor patient attorney relationship. Uh, it, it polluted the doctor patient relationship in this model. What happens is the doctor is just connected to the patient. The patient has a relationship now with you, right? And you’re paying the doctor and it everybody’s clean and happy and upfront.
One of the things I’d love you to address, because this is a big issue with some of the people in the profession that lend money different than clear gauge what you just shared. Mm-hmm <affirmative> but you guys pretty much accept everyone and it’s based on their credit score. Can you, can you address that a little bit?
Yeah. So, you know, like I mentioned, we, we wanted a program or the feedback we were getting is that everybody wanted the ability or the option to figure that out because we wanna be able, we want the provider to be able to say, give them more ways to say yes, put that control into the patient’s hands. I’m not telling you no, I can provide this to you. There is an option. So in a sense on the consumer side of it, if you think about it, I think about it. Like if my wife went to, you know, the dentist or whatever, she’s the one that does all that stuff for us. She wants something that’s stress free. She wants peace of mind. Um, so what this does is that you’re able to open the flood gates in a sense, and you control, okay, we can approve you. We can prove up to a hundred percent. What do you wanna do this? Here’s some options for you. So really it’s about that piece of mind for both the practice and the patient, cuz that’s who we’re trying to serve as both. It’s not just, uh, we wanna win-win scenario. So that’s a really big, big piece
Now with the thousands of clients you have, I’m sure you’ve also gotten tremendous feedback. Yeah. What are some of the really important benefits to the provider?
Yeah. Uh, like I’d mentioned, it’s giving them the opportunity to more ways to say yes. Um, being able to provide that service. I mean, that’s really what it comes down to is that you guys are of service and if I can’t provide you service let’s how do we make you, how do we find ways to say yes. So that’s the biggest one. Um, I would say the ability, you know, approving up to a hundred percent of your patients that walk through the door, um, offering same as cash promotions, giving your patient flexibility to choose what makes sense for their budget instead of you choosing for them and putting them in the driver’s seat, so to speak, um, it optimizes your practice workflow by, you know, Hey the, we have, if you can’t do it this way, then we have financing available for you. So it just makes it a lot more smooth, the transition. And again, that providing the multiple solutions to the patients at, at, you know, affordable, competitive rates that are reasonable for everybody.
Beautiful. Uh, to put that into more specific terms, doc, easier to attract more new patients, easier to get better patient conversion, where they accept your of care, easier to get the patient to follow through on your care plan, better compliance, better retention, easier to recommend whatever services or products you believe are in the patient’s best interest and not to worry can they afford it. It, it really just cleans up a lot of those points of friction that unfortunately exists in so many of the practices, holding the practice back from expressing its potential, Matt, for the people watching this, how do they get in touch with clear gauge?
Yeah, you can go to our, our email@example.com. Um, we actually just got a new refresh look. It looks very, very, very bold and um, very unique to the space and I just launched earlier this week. So I recommend everybody go take a look at it. A lot of good information, uh, just in general too.
And of course anybody has any questions or comments or wants more information, feel free to get in touch with me, Bob at the master’s circle.net. I can put you back in touch with Matt or anybody else, a clear gauge, but this is a relationship I recommend for all doctors of chiropractic to me. This is a no brainer. Um, before we end our call today, uh, Matt, anything I didn’t ask you or any final comments you have, why this is something that all chiropractors should be doing?
Uh, I mean really at the end of the day, you know, what makes us unique and different is you get, you get people to talk to whether if it’s, you know, coming on board, um, you get an account manager, who’s gonna walk you through the process and hold your hand and not leave you to the wolves. Um, and then you is gonna have somebody to talk to. Um, and I think in today’s day and age, that’s something that’s truly missed and needed.
Yeah. It’s personal touch. It’s very, very important stuff. Especially when it comes to borrowing money or financing things. This is a critical piece of the puzzle. Absolutely. Matt, thank you so much for being on. I know how precious your time is. Uh, thank all my friends at clear gauge for the great work that they do. Once again, all of the master circle doctors over years, over, over a decade that have utilized your services have to totally loved it and have found it to be a win-win. We recommend this, check it out.
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