Starting a Medical Billing Business > Starting Your Own Medical Billing Business
Collection Agencies
PMRNC:
--- Quote ---If you work with a specific collections agency, they may have a limit on how small they will take. We had one that wouldn't attempt collections on less than $25. Not sure if that's common, and we don't work with them, I just thought it might be worth mentioning.
--- End quote ---
I work with a few and that is true, there is one that I really like, they don't limit PER account but they do have $100 total minimum.
dekenn:
I do the billing for my husband, so I'm really the one who sets the policy... just curious where other people/providers cut it off. I send 3 bills, then decide whether to send to small claims court (usually over $150), or write off, but keep the bill in the patient's chart in case they come back in. Sometimes, though, when the amount is like $8.00, it seems a waste of time, money and effort to bill three times when the patient hasn't even been back in.... they just ignore it. Even when we take them to small claims court, they don't usually pay. I have judgements against several patients....
PMRNC:
I would go ahead and set one policy for yourself to take out the guesswork per account. Yes 8.00 is a waste of time. 3 Billing cycles is sufficient, I do 4 because I include a dunning message on the bottom with the mini Miranda that says "Your balance is now 120 days past due and your immediate attention to this matter is required or we may take further actions on this account". This way we are not threatening specific tactic's and we have the wiggle room to write it off after that. If we are going to refer it to collections we send out a letter that states if the account is not paid within 15 days it will be sent to our collection agency for further collections. All my offices have a ONE policy per office. The only exceptions would be the financial hardship cases, also which are clearly account documented.
Oh also of course, have every patient sign it and if changed have them sign the amended one as well. keep a copy in every patient file.
QueenAlicia:
How do you all pick the collection agency? Do you base it on their fees or do you give the provider the option of picking the collection agency themselves and dealing with it?
PMRNC:
If they have one they have worked with, great. I however network with a few collection agencies. Some have become long term business associates and even friends. The one I use the most is actually a member of our Chamber of Commerce here.. another great networking tool.. I like networking with all types of businesses because you just never realize the links involved..accountants, collection agencies, etc.. I like my chamber better than any medical billing network really for that purpose (networking)
If you don't have any you know, it would NOT hurt anyone to get a hold of a few, meet and offer to exchange biz cards and just network :)
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