Home > ABS Income Streams > Profit Recovery System for Doctors
ABS Helps Doctors Collect Overdue Medical Accounts
Imagine if you could help doctors collect 41% of their past due and slow pay accounts. Then imagine how doctors will respond when they know you can collect past-due accounts for them at a tiny fraction of traditional collection methods that don’t work nearly as well.
Our Licensees report the following performance with their clients using the ABS Profit Recovery System:
- OVERALL RECOVERY TO DATE: 41%
- COST OF RECOVERY: as little as 5% – not counting internal savings
You would be able to collect a substantial amount of money for them that they were ready to "write off." This lost money seems like FREE MONEY to doctors who were sure the money was unrecoverable.
With a service that puts money directly on the bottom line, do you think doctors would be interested in discussing how you can help them “find” the lost money from patients who aren’t paying? Whether a practice has hundreds of accounts overdue, or only a few, the ABS Profit Recovery System will accelerate their cash flow and virtually eliminate the need to turn accounts over to a collection agency.
How ABS helps doctors collect old bills
without destroying the doctor-patient relationship.
Doctors love our service because we offer them a proven system that does not upset their patients like other traditional collection methods.
Traditional collection agencies give the impression to the debtor that a creditor has “turned them in.” The ABS Profit Recovery System is superior because it keeps the personal contact that appears to be coming from the doctor’s office, but prevents the doctor’s staff from getting bogged down in bill collections.
Six key reasons doctors prefer
the ABS Profit Recovery System:
- An outsourced, structured system for communicating with late payers by mail
- Effective, proven collection letters sent on the doctor’s letterhead
- A series of increasingly emphatic collection demands explaining the
impact of nonpayment, which leads to real consequences – including reporting the individual’s late payment to the Credit Bureau or possible action by an Attorney.
- An efficient method for coordinating collection efforts with an Attorney
- Compelling action by the Attorney – a series of collection contacts and legal steps taken on the doctor’s behalf as a last resort
- Web-based status information and progress reports available to the doctor on the secure site
Here’s how the ABS Profit Recovery System
puts money in the doctor’s pocket:
At some point, a patient with an unpaid bill simply becomes unresponsive to requests for payment. This usually occurs between 60 and 90 days. Immediate action with the ABS Profit Recovery System will produce maximum collections:
Step 1: Setup
You would add the patient to the system with the account balance, and the automatic system begins a series of courteous – but very effective – debtor collection demands to the past due accounts, using the doctor's own letterhead.
These letters, though polite, have teeth, informing the patient of the consequences, including the involvement of an Attorney, for failure to pay.Step 2: Attorney Involvement (if necessary)
If the account is still unpaid 2 weeks after the fourth contact, you have the option to transmit it to a retained attorney assigned to your client.
The attorney will in turn mail a series of stronger, increasingly demanding contacts on the law firm’s letterhead, as well as make a series of courteous but effective, phone calls (on balances of $100 or more). If you wish, the attorney will then proceed with litigation, if feasible.
Step 3: Option A - Payment
The letters instruct the debtor to send payment to your client's collection address throughout the process; so the doctor directly receives all monies paid.Option B: Non-Payment
If the account remains unpaid, our system will, at your client's option, transmit the debtor data to one or more of three National Credit Reporting Bureaus.Step 4: Account Resolution
When the patient pays, our system can mail a "thank you" letter to your doctor’s patient if that option is selected by your client.Step 5: Client Reports
Each month your client will receive a detailed “Account Inventory Report” indicating all activity to date on all accounts submitted to the system. At any time, the doctor will have access to our web site where he or she may obtain a detailed status report and summary.
Our client service staff will call you each month, to ensure your satisfaction.
Why The ABS Profit Recovery System
can return more money to the doctor:
- The collection demand is intensified and applied sooner, using more powerful and proven tools than a traditional agency can deliver, so the cash flow is dramatically increased.
- Recovery is also increased because the patient is thoroughly informed of every possible legal alternative while the account is still collectable.
- Security of funds can be maintained, because your clients receive all payments directly, not through a third party such as a collection agency.
- Collection costs to the doctor are little or nothing. The cost of the system is partially or completely offset by the service fee added to collection accounts (paid by the patient). Doctors also save because there is no internal expense.
Here’s how the ABS Profit Recovery System
provides recurring income to you.
You will charge a service fee – typically a small percentage of the money recovered. Doctors who routinely have written off bad debts will be grateful to recover “lost” income and pay you for increasing their cash flow at such a reasonable cost.
Your value to the doctor increases with every dollar you return to the practice that was considered lost, making you a valuable part of the team.
Request more information and learn more about this exciting service.
