Medical collections can hurt your business in a number of ways. First, they can damage your reputation. When patients see that you have a lot of unpaid medical bills, they may be less likely to trust you or to do business with you in the future. Second, medical collections can hurt your finances. If you have a lot of unpaid medical bills, you may have to borrow money to pay them off, which can add to your debt burden. Third, medical collections can hurt your ability to get loans. If you have a lot of unpaid medical bills, lenders may be less likely to approve you for loans, which can make it difficult to expand your business or to purchase new equipment.
Medical Collections are a Liability
If possible, you should aim to avoid having a large sum of medical collections on your A/R balance.
First, make sure you have clear, well-written, and concise payment terms that your clients affirmatively agree to – and make sure they initially and frequently provide you with valid contact information.
Then, make sure that you have a good billing system in place. This will help you to collect payments from patients as soon as possible.
Finally, if payments start to slip just a bit, work with your patients to make sure that they understand their financial obligations. If a patient is struggling to pay a bill, work with them to find a solution.
When Hiring a Debt Collection Agency is Warranted
If you can’t get paid, or are spending too much time chasing delinquent accounts, or your A/R is filled with bad debt… it’s time to considering using a collection agency to help. While a collection agency can be a helpful resource, it is important to choose a reputable agency that will work with you to collect payments without damaging your reputation.
If you are struggling to collect unpaid medical bills, Gilliam & Mikula can help. We are a collection agency that specializes in medical collections. We have a proven track record of success, and we will work with you to collect payments without damaging your reputation. Contact us today to learn more about our services.
Here are some of the benefits of hiring Gilliam & Mikula to collect your medical collections:
- We have a proven track record of success. We have been collecting medical collections for over 30 years and over those decades have garnered an impressive collection rate.
- We will work with you to find a solution that works for everyone. We understand that some patients may be struggling to pay their bills, and we will work with you to find a solution that allows them to pay their bills without putting a strain on their finances.
- We will not damage your reputation. We understand that your reputation is important to you, and we will not do anything that will damage your reputation. We will work with you to collect payments in a professional and courteous manner.
- We will save you time and money. Collecting medical collections can be a time-consuming and expensive process. We will take care of everything for you, so you can focus on running your business.
Contact Gilliam & Mikula to Find Your Debt Recovery Solution
Contact Gilliam & Mikula today to learn more about how we can take the burden of medical collections off of your business. We will be happy to answer any questions you have and to provide you with a free consultation.
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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