Optio Solutions Blog

We love pets and the clients that own them. At Optio Solutions we understand that sometimes pet medical emergencies occur without warning and pet owners are not always ready to pay the bills as a result. The CrossCheck blog article, “Check Guarantee Services for Veterinarians” explains: “According to a  AP-Petside.com poll conducted last year, pet owners spent more than $1000 on average for pets with a serious illness. About one in six pet owners said their pet faced a serious illness during the year, according to the poll.”

Whether your dental practice is new or established, you are likely to encounter patients experiencing the inability to pay their bills on time, or at all. Nobody can dispute the importance of collecting piled high patient debt, and nor should the value of maintaining healthy and positive relationships with your patients be argued.

As noted in the Association of Credit and Collection Professionals' April edition of  Collector Magazine, the media scrutiny and misleading information available online regarding the collection industry is intense. To say it is challenging to maintain a positive public image is an understatement. 

As Americans continue to invest in education, student loan debt out paces mortgage, auto, and credit card debt. According to an article by My Budget 360, student loan debt is now the second largest sector of household debt approaching $1 trillion. This massive increase signals two things:

According to the U.S. Small Business Administration article "Extending Credit to Your Customers," the benefit of extending credit to your customers is that you give them the option to purchase products or services today and pay for them at a later date. Another reason for having a credit policy is to build customer relationships. When you extend credit to customers through card payments, the credit card company manages the risk. When you extend credit through invoices or personal checks, you are responsible for verifying and accepting payments and managing the risks that come with them.

Here are 3 commonly held myths regarding commercial debt collection agencies and their collectors:

All of us struggle with collecting from insurance companies.  It’s not a new issue, but these two solutions are speeding up accounts receivable cash flow for our clients and we'd like to share them with you.  

In a downturned economy, profit recovery is the lifeline many businesses are in need of, but have no idea exists, or how to go about implementing an accounts receivable strategy that keeps cash flowing consistently and predictably.

I’ve been telling my son for years that ‘sticks and stones may break my bones but words will never hurt me.’ Yes, thumbs in my ears, fingers wiggling and tongue stuck out. And yet, for the past 25 years, I have been searching for the best way to answer the question 'Where do you work.'  I love my job and wouldn’t have been doing it for 25 years if I didn’t, but let me tell you, it’s a real conversation stopper when I tell people I work for a collection agency.

Medical providers have obligations under the law to protect patient data in all forms. And, as the use of electronic databases has grown, so have regulations.   
    
Electronic Records and the HITECH Act