At Summit A*R, we’ve been in the debt collection business for over two decades. We have successfully served various clients with consumer and commercial debt collection services across a broad range of industries. In all our experience, we’ve never seen the situation that we see now.
Our Heart Goes Out to the Medical Community
Our heart goes out to the brave men and women working on the frontlines of the medical community, fighting for us, the American people. The medical community faces countless challenges. Not only are facilities overcrowded, but P.P.E. (personal protective equipment) is in short supply.
Additionally, elective procedures have been postponed or canceled, hurting revenue significantly. The coronavirus has resulted in a real crisis for the medical industry. Hospitals across the United States are closing after being unable to overcome financial challenges. Many of the hospitals that remain open have been forced to slash salaries in order to stay operational.
Meanwhile, data shows hospitals aren’t alone in the financial failings. Patients face similar economic challenges. One survey shows one-third of respondents lost 10 to 25 percent of their income, while 13 percent lost all of it. This is happening when deductibles are at an all-time high, putting a more significant financial burden on patients earning less than ever before.
Additionally, our brave medical community faces abuse from many misguided people. However, with vaccines rolling out, there’s optimism that the crisis will turn around this year. Until then, your medical organization needs to continue to recover revenue while observing all medical debt collection laws — in order to pay staff, buy equipment, and avoid insolvency.
Don’t Be Disheartened
As a debt collection agency that serves countless American health professionals, we know that it’s easy to want to give up, but now’s the time to stay strong. All data suggests that the coronavirus will be with us for a while until the vaccines start turning the tide. Keep this in mind if you’re simply waiting for patient billings to return to normal.
Don’t Partner with the Wrong Debt Collection Agency
It’s always a bad idea for a medical organization to partner with an unethical debt collection agency, especially now during the pandemic. Some debt collectors simply don’t respect medical debt collection laws and use the following shady tactics:
- And more
Remember, not only are such tactics unethical, but they’re also illegal. Please note that the Federal Trade Commission (F.T.C.) has outlawed debt collectors from using many abusive, unfair, and deceptive practices in an act called the Fair Debt Collection Practices Act (FDCPA).
Debt collectors found violating the FDCPA can face heavy fines in the sum of millions. They can also be blacklisted by the government from pursuing debt collection. Your medical organization can face a P.R. nightmare by associating with the wrong debt collection agency.
In the digital age, where a single negative incident can go viral overnight on social media and bring down the stock price of many businesses and set organizations into panic mode, it’s a good idea to partner with an honorable debt collection agency.
It would help if you took advantage of our ethical medical collections services to recover your revenue without being the bad guy. At Summit A*R, our medical debt approach is different from other collection agencies because of our “P.H.D. Philosophy” (Preserve Human Dignity).
This ensures your company is represented with professionalism and integrity at every step of the debt recovery process. Our experts handle accounts with sensitivity and compassion, allowing us to recover what you’re owed without alienating anyone.
We’re also excellent for collecting medical debt during the pandemic because of our other characteristics:
- 100% full HIPAA-compliant to help preserve the privacy of your patients.
- No-complaint policy.
- Affable, knowledgeable, and licensed staff with longevity in the industry.
- Fully transparent and secure online portal with access to reports, payment activity, and progress.
- A+ rating from the Better Business Bureau (B.B.B.) because of our record of excellence and minimal customer complaints.
- Members in good standing with prestigious collection organizations like the A.C.A. International and the International Association of Commercial Collectors.
- Countless testimonials from debtors and creditors alike, who appreciate our friendly and professional staff.
- Experience with dental collections and veterinary collections.
Don’t Ignore Medical Debt Collection Laws in the United States
Please get in touch with Summit A*R through our website to learn more about medical debt collection laws in the country. Remember, you can’t harass or lie to debtors. Nor can you carry out unfair methods like depositing a post-dated check.
You should also know the statute of limitations on the debt you seek to recover. All consumer debts have a statute of limitations that may range between three to ten years. Once you exceed this statute, you can’t take legal action to recover your debt. But you may still contact your patient about the debt they owe.
In our experience, most cases don’t require the threat of legal action. No one chooses to get sick, and nobody plans to rack up medical debt. In most cases, people want to strike out these debts and pay what they owe.
While you should avoid unsavory tactics, you shouldn’t walk away from outstanding bills either. You owe this to patients who pay their bills. After all, you can’t expect to forgive every debt and continue to provide the same quality care every day. Eventually, you’ll struggle to keep the lights on if you walk away from every overdue bill.
We believe that you have a social responsibility to pursue your debt, and your patients have an obligation to pay what they owe.
Don’t Forget to Adapt
Until the COVID-19 pandemic ends, you must adapt to the new normal. You can start by reading these essential medical debt collection tips on our website. As noted in our blog, you can ease pressure on your staff and free up valuable resources by taking advantage of our pre-collection services.
At Summit A*R, we can help with patient billing, follow-ups with insurance companies etc., with our professional and services. After carefully listening to your needs, we can design a customized program that can empower your staff and help your practice generate new revenue.
During these unprecedented times, you want to collect your revenue with an agency that takes a sensitive approach. Please get in touch with us to start recovering your payments.