Are you looking for collection agencies?
Whether you have used a collection agency in the past or you searching for a company to help you with past due accounts for the first time, there are a couple of things you will want to keep in mind.
There’s more to the collection process than phone calls and “2nd Notice” invoices mailed to your customers, clients or patients.
It takes skill, technique and experience to recover your lost revenue…
How to find the best collection agency
Regardless of what you may have heard, the two important factors outlined below are essential to reclaim lost earnings and uncollected accounts receivable.
- The METHOD used for collections, such as time-frame and follow up procedures
- The MANNER used to contact your customers, clients or patients
Companies with proven track records have established methods (i.e. procedures) for making the initial contact with your customers, as well as established follow up procedures.
The manner for contacting your customers involves the language used during the collection process as well as maintaining a seamless integration with your established billing process so that initial contact appears to be coming from your office versus a third party.
Remember, the key is to recover lost revenue, not simply to anger people who owe you money.
So what are the three tips you should follow before signing up with a collection agency?
In no particular order they are:
- Case studies/testimonials
- Track record
- Fee for service
When it comes to finding the best collection agency, they should be able to provide you with case studies similar to your situation, as well as testimonials from people they were able to help.
Track record simply means how successful they are in recovering lost revenue.
This may include the total amount of cases and the percentage of lost revenue they were able to recover. And before signing up with a company it may be helpful to establish what a successful outcome for you might be — i.e. what percentage of lost revenue you would like recovered.
Finally, you’ll need to know about the payments or fees for service.
In other words, will the company charge you a flat fee based on the number of outstanding accounts, or on the total revenue? Will they charge you a percentage based on the amount of revenue they are able to recover?
Knowing this information up front will prevent any nasty surprises down the road.
Finally, you’ll need to…
Get collection agency quotes today
To find the right collection agency for your business click the link below and get your free quotes from qualified and reputable companies…
Click the link and compare free collection agency quotes today.
After all, you really only have two choices:
- you can keep doing what you’re doing (and hope for a different result), or
- you can hire an outside company to help you collect the money you rightfully deserve.
Use the link above for your free quotes, or click to find a commercial collection agency for your State or Metro area that can help you recover lost revenue starting today.
Either way the choice is yours…