7 Questions to Determine Which Collection Agency is Right for You

July 28, 2016

Does your collections agency have the specialized knowledge needed to get the most ROI on your delinquent accounts? Here are the seven questions to ask. [Sponsored]

We don’t need to tell healthcare professionals about the importance of specialization, so we won’t. We will ask this: why do so many people seek specialists to look after their personal health, but not when it comes to their practice’s financial health?

Not all collection agencies have the specialized knowledge needed to get the most ROI on your delinquent accounts. If you are serious about finding the right fit for your practice or organization, here are seven simple questions to ask your collection agency:

  • Are you a healthcare collection agency?-You wouldn’t ask a podiatrist to treat cancer, don’t ask a non-healthcare collection agency to collect your healthcare debts.
  • Do you have diplomatic and intensive services?-Healthcare collection is still healthcare. Bedside manner is important, as is knowing when to be firm.
  • Do you offer fixed-fee service options?-Don’t pay more than you need to for collecting your own money.
  • Do you have an online collections interface?-The TSI interface makes sending and contacting accounts easy and efficient.
  • Do you offer 1st party services for clients?-You may not have the resources to collect on all accounts, but that doesn’t mean you want to treat all payers with heavy-handed third-party impact. Let the notices look like they’re coming from you, without having to spend the time or resources.
  • Are you fully compliant with FDCPA, TCPA and HIPAA?-Nothing is worth non-compliance penalties. Don’t risk your reputation on a non-compliant agency.
  • Are you recommended by healthcare industry experts?-Don’t take the agency’s word for it. See if their history proves you’ll be satisfied with their services.

TSI has specialized in healthcare collections for decades. We work tirelessly to maintain a higher standard of compliance, and patient relationships. TSI offers a variety of tools and approaches to ensure that we have the right solution for each payer. We’ll take care of the financial health of your practice so that you can get back to the business of healthcare.

For more information on TSI and our suite of cash flow services visit tsico.com/ama.

TSI is part of the AMA’s Preferred Provider Offers and Services Program. These AMA-negotiated discounts will help you save money on shipping, medical supplies and equipment, and patient payments management. Learn more at amamvp.com.