When do you use a collection agency?
Let us share with you, as this is not only true for medical collections but for any type of patient/customer bills. There is a time to consider letting a collection agency take over your patient past due bills. You need to have a system in place ahead of time. Then the process will work like a well-oiled machine.
With the increasing costs of healthcare, it creates a need to be efficient. Especially in the way you collect from patients. You need a company who will work well with your clients yet will keep your cash flow moving smoothly. Set up your system yet don’t over work or stress your staff with a job most really dislike of collections.
Things have drastically changed in the last few years. Procedures that use to be covered by their healthcare insurance is no longer covered. In years past It used to be $10 – $40 on their co pays. Over the last few years that has drastically changed to high deductibles. These can be in the hundreds to thousands of dollars to cover just one procedure. Which in turn causes the medical office to spend a larger portion of their time trying to collect. (Typically, this is not the area of their expertise and you are overpaying for them to do this job)
Make a reputable A+ Rating Collection Agency your solution. Again, plan ahead and include a process. Your staff will know exactly when to send it over and let the collection agency do what they do amazingly well. They can collect for you while keeping your patient happy. This same patient will continue coming to you in the future.
Keep in mind your collection agency you choose will not be collecting anything from you unless they collect for you. Don’t let an agency talk you into paying up front. This keeps them on your team collecting all they can as quickly as they can.
MCA is a third party debt collection agency that has been in constant business since 1950. We are rated A+ with the Better Business Bureau and we pride ourselves on excellent customer service along with delivering great recovery rates. There is no cost to you unless we collect! Why not try and re-coop some of your past due accounts with no out of pocket expense?