In a Digital commerce system, when care families and home care agencies that have never met before (only through the Gravity Care App) must agree to the service quote, deliver in-home care services, and perhaps most importantly, ensure payments occur end of the week.
All of the steps happening from the smartphone App requires trust. Find out how Gravity Care has built trust without agency first seeing a payment?
The most common form of payment and is accepted by nearly every elderly care service is paying “out-of-pocket,” private pay means your loved one or their family will use existing savings and assets to cover the care service cost.
Typically, Agencies don’t receive their money until after a client service is over or when certain days of services are delivered. Therefore, agencies complain about the high lead time for their accounts receivable.
If a client cancels the booking after a day of service, the agency may not get paid for the services delivered or the agency/client dispute may long delay the client payment.
Irrespective of when agencies get paid, the caregivers are paid from agency cash reserves. If the agency business had a slow month, would they be able to survive?
In-home care agency businesses are living month-to-month, the number of days businesses can survive without bringing in any money varied widely among industries – Health care services: 30 days.
Protect the interest of our members
When a care service booking is confirmed ( or both parties agree), care family wire agency service funds to hold with our trusted partner, Escrow.com
The first time, both parties (care family and agency) onboard with Escrow to ensure the validity of their bank accounts to release funds and receive payments.
Gravity Care has a range of cancellation policies, depending on the agency/agency caregiver’s preferences. Even under a strict cancellation policy, agency caregivers get paid for a day of service just before the service starts.
After the in-home care service has started, the Escrow mitigation process will guarantee caregivers paid for the services delivered, and for the disputed days, both parties come to an agreement for the paid amount. The remaining money in Escrow holding is refunded back to the Client (or care family).
This all sounds pretty simple, but our Digital Escrow Platform manages within a few taps and avoids payroll fraud or pay cash under the table.
Digital Mobile Engagement glues THREE parties
Gravity Care in-mobile App engagement delivers a positive brand experience, trust, and loyalty in using our secure payment platform.
Care family release funds, once a week, when all agency care services are delivered to their satisfaction.
Care family have a choice to release funds only when they are satisfied, this put’s the Digital Escrow Platform in the mitigation mode, connecting all three parties (care family member, agency and agency caregivers) to resolve the disputes.
To protect the agency from any payment delays, the Digital Escrow Platform release service funds to Escrow 24+hrs after, when the client missed the payment release (doesn’t apply in Escrow mitigation). The Escrow team will securely move funds to the agency bank account, a day after.
Agency Payroll Processing
Agencies can now set their payroll processing date because our Digital Escrow platform guarantees weekly payment release for the care services delivered.
For private duty caregivers, Escrow will deposit your share in your agreed bank account. Work with your tax services to pay your taxes or work with our partner payroll services at NO cost!
Learn More about hosting your agency home care business on the Gravity Care platform, click here