Collecting debts is by no means easy. People involved in the process encounter challenging situations daily. But they must still endeavor to bring their calls to successful conclusions while simultaneously behaving in a way that is fully compliant to the client's standards.
Credit collection agencies like RAB, Inc. have been leading in the commercial and medical collections industry for more than 45 years. They aim to stay on top of any new trends in debt collection, providing agents with whatever tools may be required to get best results.
There is a constant flow of new technologies and techniques that bring huge gains regarding both effectiveness and efficiency. Keeping on top of these changes is important.
Take medical debt collection as an example. With healthcare costs continuing to grow, an increasing number of medical practices is looking for better ways of maintaining their revenue streams. The focus has recently switched to improving medical debt collection, as medical practices suffer when they lose revenue through delayed payments. If this isn't bad enough, the collection of medical bill payments is not only a time-consuming but also can be very stressful for medical staff untrained in credit collection services.
Providers of credit collection services like RAB, Inc. know that successful medical debt collection requires the application of best practices regarding patient communication before the time of service.
By providing estimates and reviewing payment options before the need to serve notice enables patients to plan. The proactive approach results in a much smoother collection process. This process is aided by bills and other patient communications being clear, correct, concise and above all patient-friendly.
The way practices communicate with patients about bills needs to be easy to understand. Many times, delayed payments are the result of patients not understanding what they are being charged for.
A wide range of situations can occur when collecting patient payments. Establishing clear instructions for staff to follow leads to account resolution that is much more effective. Automated collection reminder systems are a good safeguard because they deal with issues systematically. Automated collection reminder systems allow staff to communicate collection alerts and send overdue balances with an easy push of a button.
Exercising good judgment when communicating with patients about medical debt is essential when providing credit collection services. Every patient has a different communication preference. By communicating in the way they prefer is bound to result in smoother payment resolutions. Most patients today by far prefer easy payment options and automated communications. Automated collection reminder systems that allow a range of communication methods including text message, phone calls, or emails, helps medical practices reduce their medical debt burden.