Cool, Calm and Collected
Joel R. Marchiano*
Selecting a collection agency – or evaluating the one you have – can improve bottom line results while maintaining your professional image. This article provides criteria for choosing a prospective collection agency and evaluating the strategies a collection agency employs, and discusses what a client medical practice should expect in analysis and support.
Key words: Collections; accounts receivable; Fair Debt Collection Practices Act.
Properly insisting on amounts due after your billing efforts have failed enhances your practice’s profitability and keeps costs down for patients who routinely meet their responsibilities. The challenge, though, is finding a post-billing collection agency that reflects your professional profile. Here’s what to look for in a company so that you can balance effectiveness and image.