We know that collecting money from debtors is challenging. We also know that the longer it takes to receive payment, the less you will collect. With this article, Revco Solutions offers several reasons to consider hiring a collection agency.
Revco Solutions, LLC knows that collecting money from your patients or customers can be challenging. No one wants to pick up the phone and bug someone about a late payment. But the bottom line is this: the longer it takes to receive payment, the less you will ultimately collect on each account. Even so, many companies are reluctant to hire a collection agency, so we'd like to offer a few reasons to reconsider.
You can read our entire article at: https://revcosolutions.com/5-reasons-to-hire-a-collection-agency-to-manage-your-accounts-receivable
You'll spend less. A revenue cycle partner can often get your money for you for less than improving your internal processes, which can come with a hefty price tag. When you outsource your accounts receivables you shift the responsibility for hiring, training, and ensuring the compliance of a collections team to your partner.
There's the ability to collect more. A trained team of collectors can improve your success rate, systematically managing your overdue accounts to bring in payment. With the right partner, you can even get access to a team of dedicated representatives specifically trained to collect on your accounts. Healthcare providers, for example, need a team of collection professionals who are trained in HIPAA, data security, and the importance of protecting both patient health and financial information in order to maintain compliance with the strict regulations within their industry.
A collection agency can help improve customer interactions. While collecting money owed for services rendered is a routine part of business operations, it can get contentious. A dedicated team means having someone there at every stage to answer questions and provide guidance. Each member of our team has made a pledge to treat your patients and customers as partners in seeking a solution to resolving their debts.
Still not sure if hiring a revenue cycle partner is best for your company? We get it and still want you to benefit from our experience. Call us today at 855-202-0113 or click the link above.
