It’s a problem faced by virtually every business and medical practice – how to deal with customers / patients who pay their bill late, or not at all. While customers and patients expect prompt and professional service, they don’t always meet the same standard when it comes to paying their bill.
Accounts not paid promptly can severely impact the cash flow of a business or practice. A clearly defined and carefully communicated, yet diplomatic payment policy, may help avoid difficult collections situations.
TIP #!
HAVE A DEFINED CREDIT POLICY
The first step is to clearly define when accounts are to be paid. If customers/patients are not informed that accounts are to be paid on time, chances are they will pay them late, or sometimes not at all. Make sure that your payment terms and expectations are clearly stated in writing to each person.
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