Wednesday, August 12, 2015

Simple Tips for the Getting the Most of your Healthcare Collection Agency

Having a healthcare collection agency on your side can be extremely helpful and can save you lots of time and money. However, you always have to make sure that you’re actually getting what you’re
paying for and that your collection agency is holding up its end of the bargain.

One way that you can do that is by insisting on a performance review meeting at least once every quarter. This will enable you to see what your collection agency is actually doing for you and how much success it’s had over the last few months. One bad quarter probably isn’t a good enough reason to ditch your current collection agency, but if an agency is consistently performing poorly, it may be wise to look at other options.

If you find that your agency isn’t performing up to par, but you want to continue working with it, it can be smart to sit down and create specific goals to work toward. Ask your collections agency to reach a certain dollar amount in collections for a quarter, or you can get more technical and create actual performance metrics and benchmarks. The important thing is that your business is the one creating these goals; doing so puts you in control and doesn’t leave any room for the collection agency to “spin” results or to only meet goals that are designed to benefit it and only it.

Remember, too, that you can and are encouraged to perform site audits from time to time. During these audits, walk around the actual, physical place where your accounts are being handled. Listen to the calls people are making and the way they’re speaking to your clients. Take control during the audit; you should be able to freely walk around and get a feel for all the workers, both new and experienced; you should not be steered in the direction of the best collections worker in the building and then be expected to stick by his side and only his side!

An audit is also the perfect time to ask about how your agency is monitoring its workers’ adherence to all credit reporting laws and regulations. If the agency can’t give you an answer, then it’s definitely time to take your business elsewhere since adherence to laws is one of the most important qualities in any collection agency!

Finally, never underestimate the value of how you feel and are treated by your collections agency. You should always feel respected and your debt collection agency is glad to have you as a client! Remember, there are many great collections agencies out there, and if you’re not getting all that you need from yours, then there is definitely nothing wrong with choosing a different agency to meet your needs.

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