Consider the humble invoice. It is, of course, the means by which you get paid. But did you realize the verbiage on your invoice might affect whether you’re paid in a timely manner? Your invoice is also one of your primary means of communication to your clients, and it has a lot more impact than…
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$65 billion in medical debt went uncollected in 2010. How much of that affected your practice? In our last post, we discussed 3 tips for collecting outstanding medical bills: setting clear expectations up front with patients, verifying insurance, and requesting payment at the time of service. In this post, we’ll talk about a couple more…
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When it comes to unpaid debts, the medical industry suffers. Did you know that on average a staggering 50% of every dollar billed to a patient goes uncollected? In 2010, that meant an estimated $65 billion in uncollected revenue! Part of this figure is made up of the uninsured, of course, but even among the…
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It’s a fact of business that some clients will not pay in a timely manner. Perhaps they’re grappling with an unexpected financial stress; perhaps they’re simply poor at financial planning. Whatever their reason, this is not merely an inconvenience – chasing old payments costs your business in time, money, and lost opportunities. These expenses are…
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Did you make any resolutions for the New Year? Maybe you want to save money, eat healthier, or spend more time with your family this year. Those are great goals! Now how about your business? Did you make any business growth resolutions to help move your operation forward in 2011? If you did, what did…
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Debt Collection Agencies don’t make headlines that often, but when they do, it can be shocking! Here’s one scary example: “Debt Collector Sets Up Fake Courtroom to Collect Debts.” Such headlines give the debt collection industry a bad reputation and might even make a business owner question whether to use them. You’re right to be…
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