Medical Debt Collection Agencies focus on collections of medical outstanding debt. This is where the patients or insurance companies have dishonoured their agreement to settle their claim. Agencies such as OVAG Int. SA often serve as a last resort for medical practices to collect monies from their patients in an effort to maintain a positive cash flow.
Some of the practices or medical centres are hesitant to hire third party collections or an outsourced service, because of the doctor-patient relationship and possible negative public relations issues. This is why it is important to do the necessary research before selecting a medical debt collecting agency.
Here are a few reasons why it would be a good idea to consider hiring a third party medical debt collection agency:
- Healthcare costs are ever-increasing and medical insurances increase their premiums and patient co-pays in order to compensate for this. This makes the entire medical billing process even more tedious, since it becomes more difficult getting payments from medical aids.
- With the recession, consumers are stuck with large bonds, high transport costs and credit card debts and bills – which give outstanding medical bills a lesser priority. Patients might not take your internal debt collection letters and statements seriously, but they do tend to respond better to third party debt collection agencies that communicate that a failure to pay will be reported to the credit bureaus.
- Medical and healthcare services are rendered on a daily basis. New medical bills pile up despite outstanding medical debts that have not yet been paid. Medical billers don’t have the time to deal with these medical bills, since they have to focus on processing new bills and records. That is why it is advantageous to hire a third party medical debt collection agency that will take care of all your old outstanding medical bills, which frees the billing clerks to concentrate on current billing.
Considering the above information, you may feel that there is in fact a need for a third party agency. Contact email@example.com or consult our web for more info