Patients Not Paying? Why You Need A Collection Agency For Your Medical Practice

When you own a medical practice, you need your patients to pay their bills. When they don't need to go through the collections process. If you're handling the collection process yourself, it's time for a change. It's time to hire a collection agency. A collection agency lets you spend more time on patient care and less time on debt collection. There are other benefits to consider. If you're not sure you need a collection agency for your medical practice, read the list below. Here are five signs you need to make a change to the way you collect past-due accounts.  

Your Collection Notices Are Getting Ignored

If your collection notices aren't getting the recognition they deserve, it's time for a change. It's not unusual for people to ignore demands for payment. Unfortunately, the longer notices get ignored, the longer you wait for payment. That's where a medical collection agency comes into the picture. When you hire a collection agency, they'll handle the collection notices. They'll even accelerate the attempts if notices continue to be ignored. 

You Spend Too Much Time on Collections

If you're spending the bulk of your billing time on demands for payment, now's the time to hire a medical collection agency. Collection attempts can be a time-consuming process. Unfortunately, that can take time away from the rest of your billing process. Luckily, there's a way to get back on schedule. You can leave the collections process to a collection agency. 

You Can't Track Your Overdue Accounts

If you've lost track of your past-due accounts, it's time to get help. If your patients move without leaving a forwarding address, you need help finding contact information. That's where a medical collection agency becomes beneficial. Collection agencies have the resources to track down contact information. That way, they can send out demands for payment to your past-due clients. 

Your Past-Due Accounts Keep Growing

If your past-due accounts are moving in the wrong direction, it's time to take control. The last thing you want is to have your past-due accounts outpace your on-time payments. Without your on-time payments, your practice can suffer. Get control of your past-due accounts. Hire a collection agency right away. 

You Don't Understand Collection Laws

If you aren't familiar with collection laws, hire a medical collection agency. Failure to follow collection laws could put you at risk for fines and penalties. A collection agency will make sure that all collection efforts follow the law.

Contact a local medical debt collection agency to learn more.