OUR LATEST INSIGHTS

Up to date, high-level business information that is relevant to our clients and contacts, helping keep up to date on the ver-changing business world of today.

Ian Nairn / January 29, 2024

iyampolsky – Professional Services Savings

IS YOUR FIRM BEING OVERCHARGED FOR VITAL BUSINESS SERVICES?

Your team has more important things to do than conducting thorough audits of your expenses. Thankfully, that’s what Schooley Mitchell does, all day, every day. We optimize your expenses so you can focus on doing what you do best – providing professional solutions to your clients’ business and advisory needs.

At Schooley Mitchell, we’re entirely independent. Our consultants don’t accept kickbacks or incentives from service providers, and our process is completely risk-free. In fact, we’re so confident in our ability to generate savings for our clients, we’ve based our business model on that very fact. If we can’t deliver on savings, we don’t get paid.

Waste

How predictable is your waste every month?

Variability in your waste from month-to-month makes a big difference to certain service providers.

Is your container size and collection frequency optimized?

Finding a provider that is both cost effective and meets your needs can be challenging.

Are your waste disposal fees changing frequently over the course of the year?

A professional audit of your expenses can get to the bottom of it.

Merchant Services

Do you reference the "effective rate" to evaluate how competitive your processing fees are?

A blended pricing structure makes it more difficult to fully understand all the factors impacting your fees.

Do you know how your current processing environment impacts your processing fees?

How you process payments and capture data can have a big impact on your monthly fees.

Have you asked your processor to provide you an "interchange-plus pricing" quote?

This pricing structure is often the least expensive and most transparent option.

Telecom

Have you conducted a recent usage audit across your telecommunications system?

In many cases, we find inefficiencies and redundancies in the number of lines and features.

Have you considered moving to a Voice over IP platform?

Cloud based telecommunications systems typically provide unique features at lower costs.

Do you know when your current plan automatically renews?

Companies typically only have a 30-day window to make changes to their current contract.

Shipping

Have you considered splitting your shipping business across multiple vendors?

Vendors tend to specialize in certain areas so playing to their unique strengths can reduce your overall costs.

Are you paying for unnecessary delivery guarantees?

Being more flexible on delivery times can significantly reduce your costs.

Do you review your monthly statements to ensure the correct charge codes are used?

Charge codes can be very confusing and require a detailed review to ensure you are being charged correctly.

Case Study

The Client:

Signs a Service Agreement that covers our business terms
Provides us with bills, or online access to their accounts, so we can establish a baseline of their current rate structure
Signs a letter of agency, so we can negotiate with their current vendors
Describes their current processing environment

Schooley Mitchell:

Uses our benchmarking data to research options nad negotiates better pricing for the client
Requests, reviews, and validates competitive quotes from other processors
Negotiates with the current vendor for a re-rate
Compiles our research and recommendations into a Value Report
Assists with the cancellation of services if needed
Assists with compliance standards
Implements pricing and changes
Confirms the new price 30 days after implementation

Client A:

An attorneys office, with an average annual revenue between $1 to $5 million. Their pain points included:

Very poor service experience from incumbent phone system provider left them without phones for multiple employees with no clear path forward to close gap
Concerned costs for overnight document shipping were out of line with no ability to compare to the broader market
Limited time to investigate phone providers and shipping costs and no market data to use while negotiating

Client A sought Schooley Mitchell’s marketplace intelligence and expertise to assist with a phone transition and to save money across essential services.

Schooley Mitchell's Solution:

Reduced shipping, data/internet, and waste removal costs with no vendor change
Coordinated transition of phone system to a modern platform, added needed phone, and reduced phone system spend

Annual Savings:

44.4%

SHIPPING

55.5%

INTERNET

29%

VOICE

32.8%

SHREDDING

Ian Nairn / January 29, 2024

iyampolsky – Medical & Dental Savings

MOST MEDICAL PRACTICES ARE OVERPAYING FOR THEIR BUSINESS SERVICES – AND DON’T EVEN KNOW IT

Current economic challenges have made it imperative for Medical offices to continually assess their fiscal health in order to find ways to counter rising costs and staffing shortages. Many of these Doctors know they can easily spend up to 36+ hours a week treating patients – leaving little time to help develop and maintain strategies to increase profitability or evaluate new opportunities to streamline operations. Most MEDICAL PRACTICES are overpaying for their business services – and don’t even know it

Evaluating the options that best balance your office’s goals while ensuring optimal performance from your various business services can be very time consuming and frustrating. When was the last time you assessed your Waste or Merchant Services contract and pricing? Is it time for your team to get a no cost, no obligation audit of some of your key services from Schooley Mitchell?

Medical Waste

How predictable is your medical waste every month?

Variability in your medical waste from month-to-month makes a big difference to certain service providers.

How do you deal with amalgam waste? Contaminated waste? Sharps?

Each of these require a specific disposal method that could represent additional costs.

Who supplies your medical waste and sharps containers and how are they stored?