What Should I Look For In a Medical Collection Agency?0
There’s no shame in turning to a medical collection agency to help straighten out your practice’s accounts. Though debt collectors often get a bad rap, less than one percent of collection agencies actually get complaints filed against them for employing aggressive tactics. Most importantly, collectors are good at what they do, and they succeed in collecting millions of dollars for healthcare organizations each year.
If you are a physician looking to outsource your practice’s collections processes to experienced, third-party collectors, here are a few questions to ask yourself before settling on a revenue cycle partner:
Does the company work with other businesses similar to mine?
When it comes to choosing a collection agency, the most important part is finding out whether the company is a good fit for your practice. Because different collectors deal with different types of debts, and there are different laws regulating different industries, you will want to go with a company that knows the ins and outs of the medical industry and has ample experience working with businesses like yours.
How will the agency’s collectors treat my patients and represent my practice?
Even though the medical collection agency is a separate entity from your practice, the company’s collectors are going to be contacting your patients on your behalf. Therefore, it is important for the agency’s collectors to be courteous, professional and to treat your patients with respect. To protect your practice and your reputation, choose a company that agrees to:
- Run through the collection process with you from beginning to end
- Record their phone calls with patients
- Show you sample collection letters for approval
Working with a healthcare debt collection service can be a smart decision for medical organizations struggling with collections. Experienced debt collectors can bring in more money, more efficiently, and for a fraction of the cost. Best of all, collections services allow physicians to focus on treating patients without fretting about the status of their accounts.