Why Working With A Specialized Debt Recovery Specialist Pays Off
We like to say that paying off debts is about as fun as a root canal – and not for the reasons the everyday person may initially think. Both areas have a reputation of being painful, but if you follow these specializations closely you’ll know that things have gotten significantly better over time. Root canal procedures are always getting safer, quicker and more comfortable – and the same is true debt recovery services!
The key is to find an agency that specializes in dentist office debt recovery.
Patient Privacy & HIPAA Compliance
Proper debt recovery requires finesse and a firm understanding of the rules. Much like an oral surgeon can’t walk into the suite and start pulling teeth, a debt collection specialist can’t pick up the phone and go after your patients. There are nuanced federal and state debt collection laws that apply specifically to the healthcare and dental industry.
Debt collection agencies must sign the HIPAA Business Associate Agreement, assuring accountability and a commitment to all of the rules and regulations. For the most part, medical history and other sensitive details are not necessary to recover debt but if they are, the collector must adhere to stringent and secure privacy measures.
Payment Installment Plans
There’s a strong chance that your dental practice offers financing to its patients. This isn’t just to get more folks through the door – it is done to help individuals and families get the services they need without burdening them with an immense payment. The same is true for debt collections. A collector can work directly with the debtor to establish a payment plan that works for all parties involved, which takes the pressure off but also gets you paid for the high quality services you provide.
Higher Recovery Rates: Resolving Delinquent Payments With Empathy & Integrity
Perhaps the greatest change throughout the years to the collections industry throughout the past decade has been its empathy-driven approach, especially when it comes to the healthcare industry. Patients don’t want to be hounded. They don’t want to feel threatened. These are not bad people! They may have just fallen on hard times or simply forgot about the payments. A good debt collection agency will understand this and approach each unique case accordingly.
We have found that treating people like people creates optimal outcomes for everyone involved. The key is to meet the patient where they are at. What types of communication work best for them? What information do they need? What does a payment plan look like for them? When you approach the situation with compassion, you’re more likely to see a happy ending!
American Collection Systems Is Here To Help
Are you a dental office looking for a new, more effective and empathetic debt recovery partner? Thinking about outsourcing these duties to someone else who can spend the extra time on each individual case to ensure the debt gets recovered and your reputation stays great?