Medicine is among the many industries where debt collection is a big problem.
Hospital managers, doctors and medical billing companies often need to ask the help of medical collection agencies from time to time.
And when that time comes, be prepared to ask these questions with the medical collection agency you are speaking with…before you sign up.
Three important points to consider
1. Billing Methodology
Explain the medical collection agencies the method that your medical (or dental) practice currently employs in bill collection.
Obviously it’s not working as effectively as you like, so ask the agency what changes they will implement and how they intend to improve your cash flow.
Many hospitals and medical offices employ different payment schemes in order to maintain a good business relationship with their clients.
But most of the time, schemes like fee amount reduction, payment amount lowering and delay billing prove to be inefficient. The fresh input of the debt collection agency will be pivotal to solving your hospital’s bill collection problems.
2. Debt Collection Practice
How do they intend to collect debt with respect to Fair Debt Collection Practices Act or FDCPA’s strict ruling?
Fair Debt Collection Practices Act protects consumers, thus ALL medical collection agencies should be fully aware of its rules and mandates.
Remember that the people that the agency will be collecting debt from are patients, or relatives of patients who probably just underwent extreme physical and psychological fatigue.
These people can easily be irritated, offended and harassed.
And getting a notice from their attorney regarding a possible case of harassment is the last thing you want to deal with in your office.
3. Credentials, Case Studies and Track Record
Ask the medical collection agencies you’re hiring about their credentials.
You are about to share an integral part of your business with these people and it is your right and duty to know who they are and what they are capable of.
The responsibility to check if the agency is reliable is entirely yours.
You can ask to see relevant documents like certificates so you can be sure that this particular debt collection agency is in compliance with the law. You can also check their short history of clients and accomplishments so you can gauge whether they can succeed or not.
These are just three quick questions that you can ask medical collection agencies before you sign up.
Take the idea of hiring medical collection agencies as if you are ready to hire any other new employee. You wouldn’t engage with people that you’re not confident about, would you?
Find a medical collections agency
To find a collections agency that specializes in medical practices like yours simply request a free services quote from qualified and reputable companies.
Click the link and compare free medical collection agency quotes today.
Or you can follow the link for our directory of collection agencies that can help you get set up for your State or Metro area.
Either way the choice is yours…