In a perfect world, we would have perfect recovery, right? Unfortunately, this isn’t the case when it comes to most debt collection. It can be tricky to maximize recovery while maintaining your patient-provider relationships. As a healthcare debt collection agency with over 125 years of experience, Frost-Arnett knows a thing or two about maximizing recovery while minimizing the strain put on your important relationships.
While collection isn’t glamorous, here’s an inside look at 4 ways collection agencies maximize recovery so you receive what you’re owed.
1. They offer top-notch customer service.
Receiving a notice that you have outstanding debt to pay is always more palatable when your concerns and needs are heard. Customer service is a big fat “must” when it comes to any type of debt collection. It’s particularly important when it comes to healthcare debt collections because of the sensitive nature of patient-provider relationships that must be preserved. Great debt collections agencies lead with empathy, honesty, understanding, and integrity to work with your customers to find the best solution to maximize recovery.
2. They improve your in-house collection efforts.
While debt collection agencies excel at collecting when push comes to shove, fantastic ones also improve your in-house collection efforts. This means less of your patients will need to receive a collection call down the road. They do this by making sure you’re keeping your patient information up to date and on file, clearly and empathetically communicating your policies to your patients before treatment, and making it easy for your patients to pay upfront.
3. They offer your customers options.
Your customers are much more likely to pay you what they owe you if they have the option of more than one way to do that. Giving your patients flexibility and various payment options (and even incentives) is key to maximizing recovery when it comes to debt collection. Different customers have different circumstances they’re facing and different abilities to pay their debt. Having multiple options is a great way to show your customers that you’re willing to work with them and make paying their bills as pain-free as possible.
4. They have experience and it shows.
You can probably imagine that receiving a collections call from an inexperienced, ingrained staff member is a bit awkward and uncomfortable, to say the least. However, debt collection agencies have trained representatives who are equipped with the language, social skills, and tools to phrase their debt collection messages in a receivable way. This translates to experience, which can be felt and heard from miles away through the phone and is often worth every penny it may cost. Let your staff do what they do best and leave your collections to the professionals to maximize recovery for you.
Are you looking to maximize recovery while preserving your patient-provider relationships? Give Frost-Arnett a call at 1 (855) 287-7043. We’d be more than happy to discuss how we can help you get paid what you’re owed.