Many practices find that their staff are too busy with day-to-day operations to follow up on accounts receivable. However, if these delinquent accounts slip through the cracks, your practice will hemorrhage revenue. The solution for many practices is to hire an outsourced collections provider. Here are some things to consider before you engage with one of these companies:
- Is the company properly licensed? Some states require bonds, licenses, or other certifications for third-party collectors. Make sure they are up-to-date.
- How are staff trained? These individuals will be representing your practice when they contact your delinquent patients. For all these patients know, this person could be sitting in your office making the phone call. It is essential that you work with a company that trains its callers to be professional.
- Do they take compliance seriously? There are a number of regulations that limit certain practices in the debt collections process. Ask about any complaints with regard to The Fair Debt Collections Practices Act (FDCPA), The Telephone Consumer Protection Act (TCPA), or any instances of Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
For more tips in selecting an outsourced collections provider, see the full article.
The post Outsourcing Your Collections Process appeared first on GPP Dental.