Collection Questions to Ask Before Hiring a Debt Collection Agency
The decision to escalate a delinquent account to a collection agency is a significant step in your revenue cycle. Success, however, isn’t just about hiring a third party; it’s determined by the groundwork you have already laid. A strong collection strategy begins long before an account becomes past due. Before engaging a partner, it is […]
The Legal Edge: Navigating HIPAA and Virginia Law in Medical Debt Collection
For any medical practice in Virginia, from a local clinic to a large hospital system, managing accounts receivable is a critical business function. When patient accounts become delinquent, collecting that debt is necessary for the financial health of your practice. However, the process is fraught with legal complexities that, if navigated improperly, can lead to […]
The 5-Step Checklist for Reducing Patient Accounts Receivable in Virginia
For any successful medical or dental practice in Virginia, providing excellent patient care is the top priority. However, the financial health of your practice depends on another critical function: efficiently managing patient accounts receivable (A/R). When A/R ages, it can strain your cash flow, consume valuable staff time, and pull focus away from what you […]
Regain Control of Your Cash Flow: Why Outsourcing Debt Collection is a Smart Business Move
In the business world, cash flow is the lifeblood that keeps operations running smoothly. However, when faced with unpaid debts, businesses often struggle to maintain a healthy cash flow, leading to increased stress, strained resources, and potential financial setbacks. This is where outsourcing debt collection to a professional debt collection agency emerges as a strategic […]
Gilliam & Mikula: The Healthcare Debt Recovery Solution
Medical debt is a major issue for Virginians. In fact, one in five Americans has medical debt, and the average amount of debt is over $2,000. If you represent a medical firm or healthcare business, you know that dealing with medical debt can be time-consuming and difficult. That’s why you need a healthcare debt recovery […]
Dealing With Medical Debt Collections
In the complex landscape of the healthcare industry, the amount of medical debt collections outstanding can become a significant concern for medical practices. Unpaid medical bills create financial challenges and strain the overall efficiency of healthcare providers. Many medical businesses are turning to professional medical debt collections agencies. Let’s take a look at some of […]
Technology is Transforming Debt Collection for Richmond Home Services
Debt collection is an essential part of running a successful business, especially in the home services industry, where projects often involve significant upfront costs. However, traditional debt collection methods can be time-consuming, inefficient, and even damage customer relationships. Fortunately, technology is transforming the debt collection process entirely! Here at Gilliam & Mikula, we understand the […]
‘Tis the Season to Collect: Strategies for Effective Debt Collection
During the holiday season, businesses across Virginia and Maryland have a busy sales period with increased revenue. However, amidst the hustle and bustle of the holidays, it’s essential to remember the importance of debt collection. Outstanding payments can strain your business’s cash flow, making it challenging to meet your financial obligations in the New Year. […]
How a Medical Debt Collection Agency Can Help Your Business
Hiring a medical debt collection agency can be a huge boon for your business. The bottom line is this: whether through enhanced collection capabilities, a higher success rate, or in the case of Gilliam & Mikula, the ability to use the legal system to collect on what you’re owed, a medical debt collection agency can […]
Trust And Transparency: The Key to Medical Debt Recovery
In the often complex world of medical billing and finances, transparency can be a powerful tool for building trust with patients and improving debt recovery rates. As a debt collection agency specializing in ethical practices for medical companies, we understand that clear communication and open dialogue are essential for fostering positive patient relationships, even when dealing with […]