When it comes to the medical profession there is sometimes a mistaken belief that practices should not hire medical collection agencies to recover lost revenue.
I’m not sure why that is.
Perhaps this kind of thinking is based on an assumption that medical practices are different from other types of businesses.
But if you run a medical office you know that bottom-line revenues are required to pay the staff, cover overhead, and perhaps generate some profit for the doctor or group of doctors ultimately providing care.
The Truth About Medical Collections
On the other side of the equation using collection agencies does carry a stigma, even today.
The problem with using a collection agency lies not in hiring a collection agency (or not) – rather, it’s about choosing a professional collection agency that specializes in helping medical practices.
That is the crucial issue.
In an earlier article I discussed how many of the larger collection agencies have been known in the past to hire kids right out of college. What’s more, many of these new reps were given little or no training at all.
Perhaps this history is why collection agencies have and often undeserved reputation.
The reality comes down to this – it requires experience, skill, technique, and proper licensing in the states where you need to collect revenue to ensure a successful track record for covering outstanding billing.
Before deciding on one particular company over another there are some questions you need to consider.
- does the collective agency specialize in medical practices?
- what is their success rate?
- what methods will be used to contact patients?
- are they licensed in your state?
- do they have a case studies or testimonials that they can share with you?
Like any other profession, success comes from a combination of expertise and experience.
And when it comes to recovering lost revenue to your medical practice you really only have two choices: to do nothing, or to hire a professional agency that can help you collect some or all of your outstanding billing.
After all, the choice is yours…
Find a medical debt specialist today
To find a medical collections agency that specializes in medical practices like yours simply request more information from qualified and reputable companies.
Click the link and compare free medical collection agency quotes today.
This way you can save time, money and aggravation by hiring a professional who can help you start collecting on your outstanding bills.
After all, you really have two choices:
- you can keep doing what you’re doing (expecting a different result), or
- you can hire an outside company that can help you collect the money you rightfully deserve.