One of the most difficult aspects of running a childcare center is proper billing. With so many factors that go into how much you bill your clients, including the child’s age, days scheduled and number of children each parent has attending your center, proper billing can be extremely time-consuming.
By offering more flexible programs and billing options centers can increase their business by meeting more needs of today’s ultra-busy parents with flex-working schedules. However, too many scheduling and billing options is a nightmare requiring expensive additional office help. With iCare’s rate chart modeler you can offer the flexible programs without increasing your office burden and bill perfectly without missing any billing.
Our team of experienced childcare professionals built iCare Software with this challenge in mind. The iCare Rate Chart Modeler puts you in control of how much to charge for each attendance option and then integrates with our direct deposit functionality to automatically bill your clients appropriately.
iCare’s flexible rate chart
Using iCare Software, you can fully customize your rate chart based on the needs of each client. This includes the amount you bill for each child, as well as the billing period. The more flexible you can be, the happier your clients will be with the services you provide.
Let’s look at an example of how the rate chart works. You could set up a rate named preschool. From there, you can have more than 20 factors that adjust the billing rate based off of each client’s unique needs. These might include:
- Sibling discounts
- Enrollment type (this is completely customizable to meet your center’s needs)
- Age in months
- Days attended
- Membership-based rates
- Program name
- Hourly rates with a max amount
- Scheduled days
The cost of improper childcare billing
When you connect your rate chart to your actual billing system, you can prevent errors and omissions in your billing. For example, some special billing requirements cause childcare centers to accidentally not bill a client for a month or more.
Then when they go back to the client to try and collect the funds, the client is upset and frustrated. This hurts your relationship with the client and might make them less satisfied overall with your childcare center.
The more frequently that you bill a client incorrectly, the more likely they will be to leave your childcare center, which means you need to market yourself to find a child to fill that open position or lose money from the opening.
Not only that, but if the client leaves your childcare center, it can be difficult to recoup the funds you omitted collecting without taking legal action, which further adds to the financial hardship of your incorrect billing.
Tired of managing your billing and finance manually or with an inflexible system? Contact us to see a demo of iCare Software or learn more.