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Reviewing Collectors
How can I tell if my collection agency is doing a good job?
Question: How can I tell if my collection agency is doing a good job?
Answer: Average recovery is 15 percent to 19 percent for medical claims; however, recovery depends on the quality and age of the account when it is placed. If you don't send accounts to collections until they are two years old and you don't even have any accurate demographic information, your recovery rates may be as low as 2 percent.
Meet with your agency and ask what you could be doing to improve your recovery. That will tell you how "enlightened" the agency is. You really want someone who is a partner.
And, of course, evaluate the price. I know of agencies that charge as little as 12 percent of collections.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
