Are you are searching for a medical collection agency?
When it comes to medical collections you should consider three important points regarding your choice for a medical collection agency before you alienate or anger a good chunk of your patients.
Here’s what I’m talking about.
Three key factors regarding medical debt collection
The method used to help collect your outstanding accounts receivables (A/R recovery) makes a big difference for your medical practice. So what are those three points?
In no particular order they are:
- time-frame for collection attempts
- manner or method for contacting slow-paying patients
- message of your follow up billing
Let’s review each of these in a bit more detail…
The data suggests that the sooner you rebill your patients regarding their outstanding medical bills, the better chance you have for collecting money that you are owed.
Intervention after a bill is 31 days past due is the best time to begin the process.
That means when you are speaking with a medical collection agency, ask them regarding their time-frame for acting on your behalf.
2. Manner / method of contact
More important than time-frame is the manner used to communicate with your patients.
Let’s face one simple fact…
Nobody wants to receive a notice from a bill collection company. They don’t have a good reputation, and angering or upsetting your patients should ONLY be used as a last resort.
So in many cases it might make sense to work with a professional agency that will rebill your patients using your medical practice name and address. Again, there is strong evidence to support that patients are more likely to repay an outstanding bill when they believe it is sent from the medical office directly.
Finally, you’ll want to choose a company for your outstanding accounts receivables that uses what I’ll call “diplomatic” language. Again, the goal is to boost your cash flow and help you get paid for the medical services or procedures you rendered to your patients.
To protect your reputation in the community be sure to choose a company that can:
- show you sample collection letters they’ll send on your behalf
- describe how they will follow up letters by phone
- show you the phone script that is used as a follow up for slow-paying patients
- outline the collection process from start to finish
Does that make sense?
After all, your goal is to get paid for your services in as efficient and painless a manner as possible.
Find a medical debt specialist today
Save time, money and aggravation by hiring a professional who can help you collect some (or all?) of your outstanding revenue.
Click the link and compare free collection agency quotes today.
After all, when you get down to it you really have two choices:
- you can keep doing what you’re doing (and hope for a different result), or
- you can find medical collection agencies that can help you recover what’s rightfully yours.
Either way it’s your money… you decide.