Magan Strickland calls clients about their payments to orthodontic and dental practices at OrthoBanc.Bill Holt, Marla Merritt and Tina Mead are sort of like the three musketeers – they’ve been in business together for 25 years, sharing lows and highs and battles.
And recently, a victory. Their latest venture, a risk assessment and payment management provider that serves orthodontists, dentists and veterinarians, earned a spot on INC magazine’s list of the 5,000 fastest growing companies for the fifth year in a row.
OrthoBanc has grown about 20 percent annually during the past five years, said Holt, OrthoBanc president and CEO. The company employs 47 people and is handling risk assessment, drafting and payment management for 250,000 patients. That adds up to about $600 million in current patient payments.
“I don’t think any of us dreamed we’d handle as many clients as we are handling,” Holt said.
The company manages accounts for about 3,000 customers across three brands: OrthoBanc, DentalBanc and PaymentBanc. They focus on monthly, recurring payments, like that $5,000 for Jimmy’s braces. The company doesn’t offer third-party financing, instead solely managing the loans made by clients, who assume the risk.