Revenue Cycle Experts

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The Secret to Solving Collection Problems

September 18, 2015

The bill is overdue and the collection letter has come back undelivered. The phone is disconnected.

This situation isn’t unusual for the accounts receivable department. Tracking down those with overdue bills is just part of the job. But the longer it takes, the harder it is to contact them, and not just because you’re no longer a priority. People with financial problems often move. Some do not leave a forwarding address.

Your collection process is only as good as information you collect from the very first contact with your customers. It’s surprising how many organizations struggle to recover their A/Rs simply because they do not have current addresses, phone numbers and other information needed to follow up appropriately with customers.

But there is one easy solution to solving collection problems: Get the information up front.

The best time to gather accurate contact information is when someone first becomes your client or customer. Try sending/giving the packet in a welcome package that includes:

  • Customer information form
  • Financial policy
  • Credit card authorization form
  • Cancellation policy
  • Payment options
  • A list of what a customer may need to get started such as any forms of identification or insurance.
  • List any collection fees, interest or penalties for non payment, if any.
  • Insert language authorizing your business or your agents (such as collection agencies) to contact you regarding your bill with the information provided.

Customers will give you more accurate information when they can take their time to fill out the forms. It removes the excuse that they left their information at home. It shows that your office is organized and will keep their Social Security number and other identifiable information secure.

While it’s not always easy to ask for personal information, doing so up front shows you expect payment and will deter customers who may not have had any intention of paying you. Solve your collection problems by getting the information you need.

Affiliations Audits & Achievements

  • HFMA: Healthcare, financial, management, association
  • AAHAM: American Association of Healthcare Administrative Management
  • ACA International

Revco Solutions Locations

Durham, NC (Corporate Headquarters)

2700 Meridian Parkway
Suite 200
Durham, NC 27713

Oradell, NJ

800 Kinderkamack Rd
Suite 206 North
Oradell, NJ 07649

Jacksonville, FL

7016 AC Skinner Parkway
Suite 160
Jacksonville, FL 32256

Dewitt, MI

1161 E Clark Road
Suite 240
Dewitt, MI 48820

Dayton, OH

6450 Poe Ave
Suite 301
Dayton, OH 45414

Columbus, OH

250 E Broad Street
4th Floor
Columbus, OH 43215

Omaha, NE

5807 N 102nd St
Omaha, NE, 68134

Indianapolis, IN

9339 Priority Way West
Suite 120
Indianapolis, IN 46240

Austin, TX

Financial Corporation of America (FCOA)
A Revco Management Company
12515 Research Blvd., Suite 200
Austin, TX  78759