Why should a healthcare organization assign delinquent accounts to an external collection agency rather than processing them internally?
Various factors should be considered when deliberating between using internal resources vs. an outside Collection agency to process & recover an organization’s delinquent/Bad Debt accounts. However, collectively these can be grouped into the following major categories: Singular focus & expertise of the Collection personnel; state of the art technology & tools specifically developed for the collection functions; advanced collection techniques & support resources; use of specialized, multilingual & experienced collectors; etc. When taken as a whole, outside agencies specializing in Collections will typically improve recoveries, shorten recovery times and increase cash flows when compared to internal efforts.
Related Questions
- There are occasions when I have to turn delinquent accounts over to a collection agency. Can I send copies of patients medical records to the agency for this purpose?
- Why should a healthcare organization consider using MRCS to process its Bad Debt Collection accounts?
- What kind of past due accounts can a collection agency help with?
