If you’ve been on the business side of the healthcare industry long enough, you’ve undoubtedly seen how much uncollected medical debt is out there – and how it can have a profound negative impact on a company or medical group. When margins are thin, the amount of debt you collect can determine whether your medical agency makes a profit, stays afloat, has to lay employees off, or closes down entirely. When the stakes are that high, hiring a medical collections agency makes sense.
Let’s take a look at why retaining a medical collections agency will help your business.
Why Hiring a Medical Collections Agency Makes Sense
All medical businesses will accrue outstanding debt over time. If you’re lucky, it won’t be enough to impact your bottom line. However, that’s not the norm – nor does it guarantee your business won’t be owed a ton of money in the future.
Hiring a medical collections agency will ensure you’re getting paid what you’re owed.
Your Healthcare Business Can Focus on Healthcare
If it seems like we mention this in every blog, that’s because it’s important! You and your team are not medical debt collectors – you are in the healthcare industry. While you might be able to collect on some debt, it’s just not your specialty… and if you aren’t a debt collection specialist, you run the risk of running foul of regulations and laws, or not collecting at all. Don’t take that risk!
Your healthcare business should focus on healthcare – let us focus on medical collections!
We’ll Collect More, More Often…
We have decades of experience in medical debt collections. Our agency of collections experts knows every trick of the trade, and we employ tried-and-true methods for collection that we’ve honed over many years.
When you hire a medical collections agency, you are more likely to collect outstanding debt, and you’re more likely to recover higher amounts per collection.
And You Only Pay When We Collect
We only get paid when we successfully collect on your medical debt. That not only means we’re highly motivated to get the job done… it also means your risk is much lower. We do advance the costs incurred by our collection efforts, but payment is only required when we collect.
Better Recordkeeping
As a matter of course, we keep excellent (and entirely confidential) records of all of our interactions with debtors. Our system is entirely designed to do so. While you likely have a great record keeping system yourself at your healthcare practice, it’s more likely business or medically oriented, whereas our notes focus on the debt collections process.
That’s all just a long winded way to say that if push comes to shove and we have to take your debtor to court, you won’t find your business in a battle of “he said, she said”.
Legal Protection and Capabilities
As we mentioned above, if you’re not well-versed in debt collections law (and why would you be at a healthcare business?), you might find yourself unintentionally breaking the rules… which greatly jeopardizes the likelihood that you’ll be able to collect.
We, however, are well-versed in debt collections law – because we are attorneys! That’s what sets Gilliam & Mikula apart. Not only are we up-to-date on the ever changing ruleset for debt collection in Virginia, we can also leverage that knowledge in court.
If you choose to work with us, your debt collections agency can both collect debt ourselves or go through the legal system to collect it. Either way… you’re going to collect!
Hiring a Medical Collections Agency Will Help Your Business
The bottom line is this: medical debt is ballooning throughout the United States, and your ability to collect what you’re owed can be a make or break factor for your medical practice. Hiring a medical collections agency will help ensure your business is successful long term.
We think it’s a great decision to hire a medical collections agency like Gilliam & Mikula. If you’re ready to get the process started, contact us! Fill out the form below and we will contact you back shortly.
Gilliam & Mikula is centrally located in Richmond, Virginia, and serves clients throughout the Commonwealth of Virginia. Our attorneys have over forty years of combined experience in various practice areas, representing individuals and businesses. We are licensed to practice in all General District Courts and Circuit Courts of the Commonwealth of Virginia including, Central, Tidewater, and Northern Virginia areas.
The attorneys at Gilliam & Mikula are here to smoothly guide you through the “legal maze” and ensure that you achieve the most favorable outcome.
The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information.
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