Q&A: When to turn accounts over to collections


When engaging a collection agency or an attorney, first be certain that the accounts in question have been worked multiple times and are well over 180 days past due.

Q: In recent months, collecting payment for bills, co-pays, and non-covered services has become increasingly difficult. Should I look to a collection agency or an attorney to help recover the money?

Before things deteriorate to that point, though, work with your patients to create a financial plan that works for both of you. Just be sure to account for how that plan will affect your accounts receivable balance. As a general rule, you should never have more than two months of revenues in your accounts receivable total.

Send your practice management questions to mepractice@advanstar.com (please include your regular postal address). Answers to our readers' questions were provided by Michael D. Brown, CHBC, president of Health Care Economics LLC in Indianapolis.

Related Videos
Robert E. Oshel, PhD
Gary Price, MD, MBA
Victor J. Dzau, MD, gives expert advice
Ron Holder, MHA, gives expert advice
remote patient monitoring
no shows
effective meetings
© 2023 MJH Life Sciences

All rights reserved.