COLLECTION AGENCIES: WHO THEY ARE
When determining the profile of prospective collection agencies, consider the following criteria:
- Number of years in business: You want to deal with an organization that’s stable and has a good reputation. Usually, if a company has been around awhile, you can expect it to be around a while longer. Anyone can go into business, but to stay in business, an entity must be effective and continually satisfy its clients. It’s nice to give upstarts a break, but it’s smart to put your receivables in the hands of professionals with a proven track record.
- Verifiable clients as references: Success in one type of collection activity is not always a guarantee in another. Ask for and check out medical references within specific fields. If you are told that the client list is “confidential,” you’re looking at a bright-red warning flag. You have a right to ask a company’s references whether they’re satisfied with the agency’s results, and whether the agency is easy to deal with. Continue reading