Author Topic: Collection Agencies  (Read 5131 times)

aksharhealth

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Re: Collection Agencies
« Reply #15 on: April 13, 2011, 01:33:00 PM »
Thanks Michelle. Then will doctor pay commision to BS on the payment that he collect from patient? In this case he will also have to pay commision to collection agency.

Michele

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Re: Collection Agencies
« Reply #16 on: April 14, 2011, 07:01:07 AM »
I'm assuming you are charging % based on the question so that would have to be determined again in the contract.  Personally, when we charged % if we referred provider to a collection agency we were done at that point.  The provider paid the collection agency fees and we were out of the picture.  We did have a few providers that we actually dealt with the collection agency for them.  On those we still tracked the balances and payments after it went to collections so we did still collect. 

However, this is all good reason to support billing flat fee.  With flat fee all your work is covered, even if it goes to collections.
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aksharhealth

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Re: Collection Agencies
« Reply #17 on: April 14, 2011, 09:34:06 AM »
I agree 100% to you. But here in Maryland every one is charging % so it is hard to change doc's Mentality. When we say flat fee they compare the figure to inhouse employee. This is my starting point, but once I sign 2 more clients then I will offer flat fee and see how it works.

Thanks.

Michele

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Re: Collection Agencies
« Reply #18 on: April 14, 2011, 02:19:46 PM »
I do understand.  Almost all providers I speak with expect a % when they ask "what's your fee?"  I'm preaching to the choir as well!  Anyway, in that case I would say that if you are still tracking the payments and balances after it is sent to collections then I would still include it in with your %.
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rdmoore2003

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Re: Collection Agencies
« Reply #19 on: April 14, 2011, 04:41:01 PM »
Last year I hired a collections company that is located down the road from us, but they do collections all over the U.S.   This is how we do it:
1st , when pts come in for first time, in the paperwork they must sign, it states that if account is sent for special handling, the pt/responsible party will be charged "A 35% service charge will apply to your account and any additional expenses or associated fees that are incurred in pursuit of this debt."
2nd, once all invoices are sent, a final "special handling" letter with same information on it is sent along with another itemized bill with the 35% fee added.
3rd, 15 days later it is sent to the collections company.  when pt pays the agency, the % is already in the balance owed.   So, we the provider gets our account paid in full along with the agency gets their money in full.   ITS WONDERFUL 
Once it goes to the agency, all we do is wait every month to get a check from the agency and that is all I have to do.
Regina

Michele

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Re: Collection Agencies
« Reply #20 on: April 15, 2011, 06:41:23 AM »
What is there % of collections?  They sound wonderful from your description.
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aksharhealth

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Re: Collection Agencies
« Reply #21 on: April 15, 2011, 08:54:44 AM »
Last year I hired a collections company that is located down the road from us, but they do collections all over the U.S.   This is how we do it:
1st , when pts come in for first time, in the paperwork they must sign, it states that if account is sent for special handling, the pt/responsible party will be charged "A 35% service charge will apply to your account and any additional expenses or associated fees that are incurred in pursuit of this debt."
2nd, once all invoices are sent, a final "special handling" letter with same information on it is sent along with another itemized bill with the 35% fee added.
3rd, 15 days later it is sent to the collections company.  when pt pays the agency, the % is already in the balance owed.   So, we the provider gets our account paid in full along with the agency gets their money in full.   ITS WONDERFUL 
Once it goes to the agency, all we do is wait every month to get a check from the agency and that is all I have to do.
I really liked the system. It is great. If you don't mind, What is the name & phn# of the collection agency?

rdmoore2003

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Re: Collection Agencies
« Reply #22 on: April 15, 2011, 11:09:15 AM »
Action Revenue Recovery  their website is www.actionrevenue.com  they are absolutely wonderful.
Regina

aksharhealth

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Re: Collection Agencies
« Reply #23 on: April 15, 2011, 02:28:10 PM »
rdmoore2003,

Thankyou very much.

rdmoore2003

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Re: Collection Agencies
« Reply #24 on: April 20, 2011, 08:20:32 AM »
you are welcome.   They are GREAT!   Even the employees are very friendly and professional.  We absolutely love them.
Regina

rdmoore2003

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Re: Collection Agencies
« Reply #25 on: May 18, 2011, 04:52:07 PM »
akshar,
did you contact the collections agency, if so, what did you think?
Regina