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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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.
