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 #2
INVOICE PROMPTLY AND SEND STATEMENTS REGULARLY
If your business/practice doesn’t systematically invoice and bill, start now. Many times bills aren’t paid simply because the customer/patient hasn’t been billed or reminded in a timely manner. Monthly statements aren’t enough anymore. Each customer/patient should be reminded at the least every two weeks. The lack of accomplishing this often occurs in smaller or newer businesses or practices where there isn’t enough staff to handle the invoicing and billing properly. If staffing or the cost of regular systematic, frequent follow-up is an issue in your case, help is available to get it done in a economical manner. With our economy today, there is no replacement for getting this done one way or another.
Contact me if you would like information on ways to get this accomplished in your own situation. The consultation is free.
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