How dedicated customer support can shape a doctor’s entire lending and banking experience

We sat down with Kurt Simpson, Provide senior director of healthcare banking, to discuss how his team of dedicated healthcare banking specialists is changing the financing game for our community’s healthcare providers.

When it comes time for a doctor to pick their lender, it’s important that they consider more than just the interest rate on their loan. They should pay attention to the customer service experience, as well as the other financial products the lender/bank can offer them throughout their practice ownership journey. At Provide, our community’s dentists and veterinarians will never have to dial a 1–800 number or depend on a fax machine to move things along — our healthcare banking specialists are committed to supporting these doctors on a personal level at every step.

Tell us about Provide’s Healthcare Banking team?

The average tenure on our team is right around 16 (or more) years, and everyone has experience working with practice owners. We understand the dynamic of practice ownership and the tools needed to save time to focus on what matters most — the patients.

As with any new banking relationship, there are processes and rules to follow to get a banking relationship up and running. When we built this team, we removed a lot of potentially stressful situations and created a “white glove,” personalized approach to banking. This means the team is designed to keep the doctor at the center of everything they do. Each healthcare provider has a dedicated banking team, which serves as a strategic partner that offers creative solutions to help create practice operating efficiencies.

Our doctors can expect to work with a healthcare banking specialist who can support them with expertise in cash management tools, merchant services, HR/payroll, technical banking support, and more. The team works diligently on behalf of the healthcare provider; the provider doesn’t need to dial a 1–800 number — they can shoot their dedicated banker a text or call them directly on their cellphone.

What should a doctor expect when working with a healthcare banking specialist?

Responsiveness. That is the single most important aspect when it comes to banking. When a question, need, or opportunity pops up, we want to address it without a long delay. We know how busy healthcare providers are and take great pride in how quickly we respond to get things done.

What products does your team offer, and how are they unique to the industry?

We’ve designed our products in a way that meets dentists’ and veterinarians’ unique needs. No worrying about getting checking fees for processing too many transactions or paying for a necessary service that other lenders may consider a “luxury.” We tailored the cost and benefit of those solutions specifically. It’s very much a customized approach. We offer solutions that range from checking solutions, credit cards, cash management tools (ACH, remote check deposit, fraud prevention, etc.) to merchant services and HR/payroll. We also have a few other unique offerings in the works — so more to come!

What is your favorite product for today’s dental practice and veterinary hospital owners?

It’s hard to pinpoint just one, so I’ll mention two. The first would be using a remote check scanner — it’s fantastic! No more trips to the bank to deposit checks; you can just scan them from your desktop and deposit them right into your account. It’s that easy.

The second would be merchant services or “credit card processing.” There is also an option to add a “patient payment portal” feature to the practice’s website. It can really add a whole different experience for the patient.

What banking-specific advice do you have for first-time practice owners?

Patience is key. There are a ton of moving parts and priorities when owning a practice. Be sure to surround yourself with a trusted team of experts who have experience in your industry, such as a broker, accountant, or CPA.

What should healthcare practice owners have in place before they open?

Stick with the essentials. A dedicated banking team, checking account, online access, merchant services, credit card (for purchases), remote check scanner, and a game plan on how to process payroll. That should be enough at the start.

How does it work if a doctor is a Provide customer but there isn’t a Fifth Third Bank in their area?

You would be surprised how easy it is. Most transactions are conducted electronically, so there isn’t much need for a branch visit. When you change your mindset from the “traditional” way of banking, you’ll be surprised how much time you can get back in your day.

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This content is for informational purposes and does not constitute the rendering of legal, accounting, tax, or investment advice, or other professional services by Provide or any of its subsidiaries or affiliates, and it is being provided without any warranty whatsoever. Please consult with appropriate professionals related to your individual circumstances.

All lending is subject to review and approval. Provide, Inc. is a wholly owned subsidiary of Fifth Third Bank, National Association.