Why Amicable Debt Collection Makes More Sense Than Litigation

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Analysis of the flaws in the litigation process when collecting on past-due medical accounts, and an alternative solution.

Analysis of the flaws in the litigation process when collecting on past-due medical accounts, and an alternative solution.

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  • Question: Who in your business office (dentist, chiropractor, veterinarian) is responsible for collecting unpaid customer bills? Is it you? Your office manager? An outside collection agency?
    Answer: We believe your front desk staff CAN and SHOULD be handling the majority of these accounts.
  • Question: Who in your business office (dentist, chiropractor, veterinarian) is responsible for collecting unpaid customer bills? Is it you? Your office manager? An outside collection agency?
    Answer: We believe your front desk staff CAN and SHOULD be handling the majority of these accounts.
  • Question: Who in your business office (dentist, chiropractor, veterinarian) is responsible for collecting unpaid customer bills? Is it you? Your office manager? An outside collection agency?
    Answer: We believe your front desk staff CAN and SHOULD be handling the majority of these accounts.
  • Question: Who in your business office (dentist, chiropractor, veterinarian) is responsible for collecting unpaid customer bills? Is it you? Your office manager? An outside collection agency?
    Answer: We believe your front desk staff CAN and SHOULD be handling the majority of these accounts.
  • Question: Who in your business office (dentist, chiropractor, veterinarian) is responsible for collecting unpaid customer bills? Is it you? Your office manager? An outside collection agency?
    Answer: We believe your front desk staff CAN and SHOULD be handling the majority of these accounts.

Transcript

  • 1. Why Amicable Debt Collection Makes More Sense Than Litigation Receivables Management Solutions Since 1938
  • 2. Medical debt collection is one of the most difficult and challenging tasks to manage in the health care industry. More than a third of all bankruptcies in the United States are directly related to health care debt. If a patient is unwilling to pay his/her bill, you are left with a crucial decision: to litigate, or to pursue less aggressive collection processes. This slideshow will help explain why choosing to work with a collection agency may be the best decision for you and your company.
  • 3. Consideration Before Litigation • When considering the process of a lawsuit to recover costs, it is important to note that litigation can be: – Lengthy/Time Consuming – Unsettling – Risky – Expensive • An entire industry of lawyers exists to defend medical patients stung by lawsuits – nothing happens quickly
  • 4. The Negatives of Litigation • While it is unfortunate, the fact remains that litigation is often a stressful and inefficient way to collect on past due accounts: – Trials can take months to schedule, and often, many more months pass before a judge will make a ruling – Even if you, the health care provider, win a favorable judgment for the clinic, the patient may still file for bankruptcy to avoid the debt (this is a common strategy used by debtors – and it often works) – Whether you are able to collect your accounts receivable through litigation or not, the process nearly guarantees that you will sever your relationship with the client involved
  • 5. Consider an Alternative Solution • You have another option: collect past due accounts through a collection agency, work closely with patients to resolve their debts in full, and completely cut-out the courtroom • For health care providers, working with a collection agency makes sense, as it avoids: – Attorney fees – Lengthy court battles – The real threat, that nothing will ever be recovered • Provider-patient relationships can be maintained in collections, as they are far less aggressive than litigation, allowing you a much better opportunity to save the business and personal relationships that you have built with your patients over years of care
  • 6. IC System Health Care If you are happy with the performance of your current debt collections process, great! If you are interested in exploring another solution, our collections experts at IC System would be happy to provide you with more information, answer any questions you may have, and work together with you to discover a method of collecting medical debts that best tailors to the needs of you and your company. For more information, please view our medical collections website, access our contact information, and view other content involving medical collections at the link below:
  • 7. Legal Disclaimer No Attorney-Client Relationship Created through this Presentation: Neither your receipt of information from this presentation, nor your retention of I.C. System, Inc., or its legal counsel creates an attorney-client relationship between you and I.C. System. No Legal Advice Intended: This presentation includes information about legal issues and legal developments. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice on specific legal problems. © 2014 I.C. System, Inc. All Rights Reserved.