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 #5
USE YOUR AGING SHEET, NOT YOUR FEELINGS
Many businesses/practices (or some well-meaning people on their staff) have let an account age beyond the point of ever being collected because he or she “felt” the customer would pay eventually, and did not want to offend or alienate the customer/patient. While there are certainly isolated cases of unusual situations, the truth is that if your business/practice is not being paid, someone else probably is. So stick with your systematic plan of following-up on slow pay and delinquent accounts. If it is done systematically and early in the process, it will soon be apparent who intends to really pay and who doesn’t. Appropriate action can and should be taken once you know where your business/practice stands.
Contact me if you would like information on ways to get this accomplished in your own situation. The consultation is free.
To receive each of these 10 tips by email, please follow this blog by entering your email address on the right side of the page.
Leave a Reply