Practice Management Alert

Question: I am looking for a new collection agency. What should I look for when selecting an agency? Is it better to choose a specialty agency?

Illinois Subscriber
Answer: You should look for an agency that has experience with medical collections. It will be better able to understand payer contracts and be sensitive to dealing with individuals who have medical problems. Also, look for the agency's:

 1. recovery success rate
 2. charge
 3. membership with the American Collectors Association, an international trade organization of credit and collection professionals that provides a variety of accounts receivable management services.
It helps if the agency is local so you can develop a relationship. Check their reputation by calling the Better Business Bureau, local Chamber of Commerce and some of their current customers to see how competent they are in getting results. Some may advertise that they do a thorough collection job, but all they do is send out letters and hope for the best. You don't need an agency to send letters you need one to make effective phone calls and continue to follow up as needed to get the money that is due your practice. They should be willing to provide you with a list of clients from which you can choose references.
  You Be the Expert and Reader Questions answered by Catherine A. Brink, CMM, CPC, principal of Healthcare Resource Management Inc. in Spring Lake, N.J.; Tricia Bardon, BBA, president of Medical Perspectives in East Grand Rapids, Mich; and Stephanie L. Jones, NRCMA, NRCAHA, CPC, director of audit programs at eCompliance Doc, Miami.