Recently, consumer debt hit a new record of $14.3 trillion, including mortgages, auto loans, credit cards, medical debt, and student loans. Unfortunately, many of these consumers default on their loan repayments, which has resulted in higher demand for debt collectors in the country. It’s estimated that around 80 million Americans have debts in collection accounts.
There are thousands of debt collection agencies operating in the country trying to keep up with the extra demand. Each agency has its own style. While most agencies are fair and ethical, some use aggressive tactics to get the job done.
At Summit A*R, we’re proud to do things differently by taking a friendlier approach to debt collection. We treat our clients and their debtors with sensitivity and humanity. For example, unlike other agencies, we don’t pressure potential clients by demanding many accounts before starting work.
Whether you’re a small business with one debtor or a larger one with ten past due accounts, we’ll work with you to recover your revenue. We also believe that our clients shouldn’t be throwing good money after bad debt. We don’t ask for payment until after your income has been recovered from a delinquent account.
Likewise, we pursue a bad debt in a friendly and dignified way. Not only is this ethical approach good for karma, but it’s beneficial, especially in certain industries.
#1 Medical Collections
We’re considered a top medical collections company in the country because of our unique approach. As you can see from the many firsthand testimonials on our website, our style has left a good impression on debtors. It’s all a piece of our “P.H.D. Philosophy” (Preserve Human Dignity), which has guided us for decades.
Our compassionate approach towards medical collections is prudent because most people with medical debt are good people. They’ve simply been hit with bad luck and want to pay their dues with their dignity intact.
Not only do we treat such accounts with sensitivity, but we give them the respect that they deserve. Our practices are 100% HIPAA-compliant, and the privacy of each account is maintained on our servers. Our Client Online Access portal, where you can place, view, or update accounts, is fully secure.
We’re also affiliated with premier health organizations such as the American Association of Healthcare Administrative Management and the Rural Health Alliance. Using resources from both clients, we stay in tune with the medical community.
You might be surprised to learn how practical our approach is. Our medical recovery rates are double the national average. When your practice partners with us, it maintains a healthy cash flow. It doesn’t have to worry about paying staff, suppliers, rent, and other costs associated with a medical practice because it couldn’t recover revenue.
When you partner with Summit A*R, you enjoy a healthier accounts receivable turnover balance sheet and an outstanding reputation among your patients and community. Like many practices, you can also use our pre-collection services.
Our team of friendly, licensed, and experienced professionals can manage your patient billing, telephone follow-ups, and insurance follow-ups. We can even help patients understand the details of their balance. You can trust us because we know the value of a positive patient experience.
By freeing up valuable resources at your finance department, your practice can focus on patient care, generating more business, and increasing revenue. Remember, your in-house collections won’t have the expertise of a team of full-time professionals who specialize in collecting payments with dignity for a living.
#2 Dental Collection Services
As someone running a dentistry, you can’t afford a negative review in the digital age. Patients are spoilt for choice. They invariably check online reviews before visiting a practice. According to Inc., 84% of people trust online reviews as much as friends. So, you must be sensitive when pursuing dental debt. Yet, you can’t afford to write it off either. After all, running a dental practice is expensive. You need every penny you earned.
Your best option is to use a friendly debt collection agency like Summit A*R. We’ve mastered the art of resolving unpaid accounts while safeguarding your reputation and relationships. We also pledge to represent your practice with complete professionalism and integrity. Let us worry about your unpaid invoices while you worry about providing your patients with the best possible care.
#3 Employee Reimbursements
If you feel like a former employee has stiffed you, then the last thing you need is an aggressive debt collector who threatens them. The wrong debt collector will not resolve your problem and create new ones. For example, your business could land in legal trouble and must pay out more than it pursued.
Many cases of employee reimbursements are a big misunderstanding. Your employee may not have realized that their salary was overpaid, their commission was recalled, or that their travel expenses were unauthorized. Perhaps they were unclear on the terms of their education reimbursement.
With our skilled negotiation tactics, we resolve the simplest misunderstandings. However, we also have the means to recover debt resulting from outright deception. Instead of wasting your peace of mind, give us a call. You’ll be surprised to learn that capable and friendly debt collectors do exist in the country.
#4 Veterinary Collection Solutions
You’ve put your skill, training, experience, and energy into healing a pet, and now the pet owner refuses to answer the phone. It’s frustrating because running a veterinary practice is expensive. The worst thing you could do is hire a debt collector who lacks the humanity to deal with a pet owner.
Instead, use the services of a friendly debt collector. Your debtor wants to use your services against because they trust you. After all, you healed their best friend. Summit A*R can collect what you’re owed with kind and courteous persuasion.
What Happens When Friendly Debt Collection Doesn’t Work?
Admittedly, friendly debt collection isn’t sufficient for every account. Fortunately, we have the means to recover a difficult debt. We have a Skip Tracing team led by a licensed private investigator that can track your debtor and their assets, even if they’ve crossed state lines. We can also report debtors to the major credit bureaus. Most debtors clear their dues to avoid problems on their credit report. For particularly stubborn accounts, we can pursue legal action after completing a cost-benefit analysis.
Get in touch with us soon if this sounds like something we can help you with — whether you work in the medical or veterinarian professions or something entirely different. With experience recovering bad debt in a variety of industries, we can help you and your business today.