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Bad Debt Write-Offs

Posted by Byron Hyter on Friday, October 23, 2009, In : Bad Debt Write Off

This is the 4th quarter and for tax purposes it is time to start reducing your yearly revenue to a realistic number.

This is the time that you will look at delinquent patient accounts and start writing them off as bad debt and then place the accounts out to collections.

When the accounts are collected those funds will now be counted as new income going forward.

Make sure that when you zero balance out a bad debt account that you put a note in the system that the account has been sent out for c...
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Using an OUTSIDE Collection Agency VS. IN-HOUSE Collectors

Posted by Byron Hyter on Thursday, October 1, 2009, In : Medical Collection Agency

Outside or 3rd Party collection agencies are 20% to 50% more effective than in-house collectors at collecting aged accounts (1 to 8 years old).

It has been a well know fact that 3rd party collection agencies came about as a necessity many years ago as a result of business owners reaching a roadblock with their non paying customers.

How many times can a business ask a person to pay via telephone, letters and various other methods before they give up trying to collect the debt or the person deci...

How Often Should Accounts Be Placed Out To Collections?

Posted by Byron Hyter on Wednesday, July 22, 2009, In : Regular Account Placements

In my opinion a medical service provider that has a relationship with a collection agency should place accounts on a monthly basis at a bare minimum.

Medical service providers just by the nature of their design have patient accounts that fall into the collection criteria every day.

Unfortunately do to various reasons many medical service providers attempt to hold on to their delinquent patient accounts far too long.

I sense a general feeling that the medical facilities administrative staff beli...
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Collecting On Letters of Protection From Personal Injury Attorney Medical Liens

Posted by Byron Hyter on Thursday, June 18, 2009, In : LOP's

Get paid quickly from Personal Injury Attorneys and/or Patients that have been holding up your funds!

AllMedicalDebt.com provides collection services on Medical Liens, Lien Letters and Letters of Protection for all Medical Specialists, Hospitals, Medical Clinics, MRI Facilities, Lien Purchasers and Pain Management Clinics.

Please complete our information form to begin the collection process of your Medical Liens and Letters of Protection. Request Contract.

Call Byron Hyter at 1-866-206-958...

Is It Time To Place Accounts With A Collection Agency?

Posted by Byron Hyter on Thursday, May 14, 2009, In : Medical Collection Agency

Yes, it is time to place accounts with a collection agency!

Why would a company hire an employee to collect accounts?

Why would a company keep mailing letters to patients that have not paid you?

Why would a company keep stretching internal resources to pursue unpaid patient accounts?

The answer is simple they just don't know any better.

Hiring an employee to collect is financially unsound since we are talking about patients who have not paid and may not even be willing to pay. So this new persons ...

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About Me

Byron Hyter

I have been in the collections industry for 20+ years since 1989. My first job was with a very large collection agency called Debt Collectors Incorporated aka DCI which was the prototype for the modern collection agency. I have worked in all facets of the collections industry from Training Collectors, Policy Development, IT Infrastructure, Management, Ownership, and Telecommuting Technologies Beta testing. My greatest areas of expertise are in medical, commercial and retail collections as well as debt buying. I am happily married and have 4 kids with my wife Roberta Hyter and we live in Houston, Texas. Current projects that I am working on besides building my medical clientele base is a medical service industry collections manual and a collections industry self help/success book entitled " The Quintessential Collector" due out on Amazon.com in mid 2012. I regulalry travel around the country speaking at various industry conventions & collection agencies relaying to both business owners and collectors about various ways they can improve our industry and themselves. I abhor the mistreatment of people who owe money and I know "that there but by the grace of God go I" debt can happen to anyone. I believe if you can show a person that you sincerely want to help them resolve their debt then they will be much more motivated to try and get the bill resolved. Not everyone in the collections industry sees things my way but all collection agencies are concerned about excessive complaints and frivilous law suits and most of these can be avoided with a little TLC.