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 #10 (finally, right?)
REMEMBER THAT NOBODY COLLECTS EVERY ACCOUNT
Even with a carefully designed and implemented plan for follow-up and collections, there are a few accounts that will never be collected. Save your business/practice time and money by identifying these accounts early in the process. At the same time, your business/practice will benefit from the improved cash flow from the vast majority of accounts that do pay.
Developing and implementing a sound collections policy and strategy is a vital part of running a successful business or medical/dental practice. Follow these 10 Tips, and watch your business/practice thrive while retaining a good professional relationship with your customers and patients
If you would like to receive a document with all of the Ten Tips included, please respond to me with your email address and a request for the document, and I will send it out right away.
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