Healthcare AR Management
Commercial AR Management
Insurance Overpayment Recovery
A collection agency offers services to lenders and creditors so they can recover funds that are past due or in default. Usually, a creditor hires a collection agency after it has made several failed attempts to collect a debt. Why use a collection agency? You’re...
Businesses seeking accounts receivable solutions often run into the extended business office (EBO) option and wonder what it means. An EBO is simply an extension of your business office, with a team who will develop processes to meet your business goals. They’ll also provide a more effective debt collection solution customized to your business style. This could involve creating an updated privacy policy or improved medical coding to better keep track of customer debt. An EBO provides revenue cycle best practices in areas ranging from ongoing billing and collections to denial management.
A customer or patient isn’t paying his or her bill, and after a few months of mailing letters and making calls, you decide to turn it over to a collection agency.
Scammers searching for a quick buck aren’t helping things, so it’s critical that consumers know the difference between a legitimate call about a bill you missed versus someone trying to get your money.
When collection agencies call and send bill reminders, they work with your customers on your behalf to collect money that the agency shows as owed, remitting payment to you less a small fee. However, some customers rather not pay the collection agency, they will pay you instead.
Whether from medical bills, real estate, student loans, or credit cards, debt is never fun to have. For business owners, especially small businesses, the collection of bad debt from customers’ past due bills can take a toll on a company’s cash flow and progress. Let’s...
Time-consuming. Overwhelming. Hopeless. Does this describe your company’s efforts at consumer debt recovery calls? If so, it is time to hire a commercial debt collection agency, also known as third-party debt collection services. Debt collection agencies take over...
What is an EBO or Extended Business Office? Businesses seeking payment solutions often run into this option and wonder what it means.
If your business team is struggling to collect payments, you are probably researching debt collection and debt buyers. As you dig into both options, you might not be sure about the differences and benefits of each.