What Does a Collection Agency Do?

What Does a Collection Agency Do?

June 5, 2017
    A Collection Agency helps your organization be more profitable.
    Clinics and companies alike have mostly patients or clients who pay their bills when the money is due. This is usually at the time the service or product is provided or once the client receives an invoice.
    Other customers or patients take longer to pay. A small percentage never do.
    Just because someone is behind with their payments may not necessarily mean that the they don’t want to pay. They may have hit a financial tough spot, which can be temporary. Usually there are some funds available and the person who owes money has to make a decision between which of several bills to pay.
    What a collection agency does – if they do their job well – is to make sure that your invoice is among, for example, the 5 out of 10 invoices that the person or company pays that particular month. Therefore, a good collection agency can improve your organization’s bottom line while maintaining your good name in the community.
    We have created a series of videos and blog posts to answer common questions. These will cover what collection agencies do, how they do it, collection industry terminology, and more. We will even discuss what you can do to minimize the amount of overdue accounts for your organization.
    Check back soon for additional information.
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