Debt collection is the most challenging function of the financial administration of a medical practice.
Good business requires that collection of monies be made promptly and without damage to the patient relationship. To retain patients goodwill at all times requires skill and tact in the handling of collections.
The value of a receivable debt falls rapidly the longer the debt has been owed and the less likely it is to be paid. The time to terminate a collection effort in your practice is crucial.
Outsourcing of collections should be considered to control collection costs and to accelerate the rate of collection of unpaid fees.
Daly Morgan has the solution to this problem.
Our fees will be determined after assessing your practices' debtors book and can be negotiated based on an age analysis of the accounts handed over and the information made available to us.
If we are not successful in collecting an account due we do not charge the fixed percentage rate agreed upon. Commission is payable only on debts collected.