Tag Archives: Email address

Top 10 Tips To Improve Collections (Part 10)

28 May

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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Top 10 Tips To Improve Collections (Part 7)

16 May

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 #7

ADMIT AND CORRECT ANY MISTAKES ON YOUR PART

Sometimes customers/patients don’t pay your bill because they think your business/practice has made a billing error.  If that is the case, quickly admit it and correct the error.  Generally, customers/patients realize that mistakes happen sometimes in business.  Unfortunately, some customers/patients believe that the owner/president or doctor “doesn’t need the money.”  Denying an obvious error your part only feeds the fire of resentment your customers/patients already feel.

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.

 

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Top 10 Tips To Improve Collections (Part 6)

14 May

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 #6

MAKE SURE YOUR STAFF IS WELL TRAINED

Even “experienced” staff members can sometimes become jaded when dealing with past-due accounts.  This usually happens when the customer/patient has made and broken promises for payment.  Make sure the staff is firm, yet courteous when dealing with them.  Your business’s/practice’s collection staff may benefit from customer service training because, in effect, they must “sell” your customer/patient on the idea that your business/practice expects to be paid.  Make sure that your staff is trained to not only bring the account current, but to also maintain good will.

Contact me if you would like information on training for your staff in customer relations and asking for money.  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.

 

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Top 10 Tips To Improve Collections (Part 5)

13 May

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.

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Top 10 Tips To Improve Collections (Part 2)

7 May

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.

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.

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