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Simple ways the customer experience improves cash flow

We always hear companies bragging about how they have the best customer service in their industry. And in recent years, what is taking shape is that the entire customer experience needs to be taken into consideration when deciding to do business with a company.

A customer experience starts from the moment they pick up the phone and inquire about your services. And it extends all the way until both customer and business have met each other’s obligations. That includes financial obligations as well.

If a customer is treated poorly during any stage of the relationship, or they feel they have not gotten the service that you promised them, that can directly affect how you get paid, when […]

2021-08-25T09:49:21-04:00August 27th, 2021|Categories: Advice for Businesses|

Improve accounts receivable process with these 6 tips

There are so many aspects to running and managing a business that you can truly enjoy. Maybe you love interacting with customers, problem solving, or working the back end, creating new products and services. You and your team should enjoy coming to work and doing what people pay you for.

But there are going to be times when customers do not pay you as we are sure you have figured out by now. And that can throw your accounts receivables into negative territory. How you manage your accounts receivables is critically important to meeting your cash flow needs as well as adhering to your own financial obligations as a business. Maybe you don’t fully enjoy the […]

2021-08-25T09:01:34-04:00August 25th, 2021|Categories: Advice for Businesses|

How to send a debt to collections

Sending a customer to collections can be a big step for a small business. You have spent hours cultivating new customers in your community and you don’t want to lose any business. You have a great reputation for service among your current customers and most of them are paying you on time.

But there comes a time in any size business when customers are not going to pay, and you need to implement a strategy if you are going to recover that money. Depending on the type of business you are operating you may have a regular need for debt collections, or you may just have a few accounts that have been lagging in payments.

We are […]

2021-04-09T10:05:47-04:00April 13th, 2021|Categories: Advice for Businesses|

Debt collection ensures proper access to consumer credit

The debt collection industry is a necessary component of the US economy. Professional collectors provide a critical service to both small businesses as well as nationwide organizations in helping them secure late payments from customers. Without third-party assistance to secure back payments, many organizations would struggle on several levels.

While many consumers are not thrilled to be on the receiving end of a communication for late payment, what is important to understand is that completing their obligations to the business they secured services from is vital to the overall economy as well as the health of that business. They both work hand in hand.

Part of our economic machine here in this country is proper access to […]

2021-04-09T09:55:30-04:00April 9th, 2021|Categories: Advice for Businesses|

These 3 tips will help your business get paid faster

Every business wants to get paid faster.

In fact, a business or medical practice NEEDS to get paid sooner. Late payments can do all types of damage to a business. It hurts cash flow, delays your own payments on bills, and costs you money in the long run. Late-paying customers can create untold amounts of stress on a business and can even cause those consumers to go elsewhere because they have not paid you. Embarrassed and unwilling to come to the table, they go find another provider.

Over time, late and non-paying customers can take their toll on a business. So it is imperative your operation gets a firm grip on your receivables and has effective strategies […]

2021-04-01T16:15:58-04:00April 5th, 2021|Categories: Advice for Businesses|

4 ways compassion improves dental debt collections

Let’s face it, most of us do not enjoy a trip to the dentist. The anxiety experienced can sometimes be greater than other medical visits. If you are a dental professional, you know this part of the business all too well. When seeing patients, part of your job is to put them at ease while they are in your office. The better equipped you and your staff are to help your patients relax and accommodate them, the more profitable your practice can become.

But we understand that your patients are not the only ones stressed out. There is one thing we know to be true after assisting countless dental practices across the country, and that is, […]

2021-04-01T16:10:27-04:00April 1st, 2021|Categories: Advice for Businesses|

4 Reasons healthcare collections need to be cordial

If you are running any type of healthcare facility or medical practice, we know how hard you have worked to cultivate new patients. It can take years to build a thriving practice and along with the best medical care, the way you do that is to provide a warm and welcoming environment at every phase of the patient experience.

The patient experience starts from that first phone call for care all the way through how that person is treated in the office, by all levels of staff, and after the visit. It includes good times and bad. And it also includes the process of medical collections and how that patient is treated during times of financial […]

2021-03-15T07:34:54-04:00March 10th, 2021|Categories: Advice for Businesses|

The common ground between sales and debt collections

The title may grab you but let’s be clear, debt collections is not sales and it is not selling anything. However, some of the core strategies that allow a sales executive to be successful can be viewed as some of the same traits you should be implementing in your collections. Let us explain.

There are always great lessons to be had and new things to be learned if you’re looking in the right places in the world of business. A successful sales professional has many elements that allow that person to achieve their goals. And while we have all run into “that” sales guy who may have turned us off, the good ones follow some basic […]

2021-03-15T07:36:34-04:00March 5th, 2021|Categories: Advice for Businesses|

Listening-One of the most effective strategies in collections

You might perceive that all calls from a collection agency are nothing more than a standoff between a consumer and a debt collector. However, that is far from an accurate representation of how today’s interactions with consumers unfold. In fact, here it is quite the opposite.

And despite the media’s perception of the collection industry, when we get people on the phone, and we get to a place where a cordial conversation begins to occur, we go to great lengths to get to know the consumers we are calling.

Let’s use the example of any interaction between a consumer and a business. Is that consumer going to be receptive to what they hear from the business if […]

2021-03-02T09:22:02-05:00March 2nd, 2021|Categories: Advice for Businesses|

How to choose a medical debt collection agency

If your practice has been looking through a list of medical collection agencies in search of just the right fit, we want you to take a moment to read some of the tips that our experts here have come up with. Choosing the right partner to work with your patients and handle payment arrangements is a critical part in managing not only your cash flow but your reputation.

The last thing you want to do is lose a hard-earned patient over a medical bill that could have been resolved diplomatically and with care. It’s not enough to just call an agency and hand over your late accounts. To keep your patients coming back and avoid awkward […]

2021-02-09T08:47:04-05:00February 9th, 2021|Categories: Advice for Businesses|