• The Issue of Professional Service Receivables

    In considering Professional services receivables, approximately 80-85% of all services are paid for through credit arrangements.

    This makes the service provider a credit grantor, much like department stores, oil companies, utilities and others.  They differ, however, from most other credit grantors in a few ways:

    • In most cases, the patient/client uses the service provider as a last resort. Most would rather not have to use their services.  In most cases patients/clients are limited in choice of provider and type service.
    • The patient/client almost always feels that they are always being over-charged for the service.
    • Once the service has been provided, the patient is better or the issue has been resolved there is no tangible reminder of the service provided. Out of sight, out of mind.
    • Professional service invoices are virtually always the last in line to be paid.  (of course it is more important to pay the cable TV bill and the gas company than the healthcare / or legal provider. After all, “everyone” knows that they “all” have more money than they know what to do with!
    • Professional providers do not like to ask their patients /clients for their money… many feel that asking for what is due them will jeopardize the delicate patient / client relationship. Essentially their embarrassed to ask.

    Choosing a solid A/R outsourcing company that is schooled in HIPPA procedures, can preserve the business relationship, and turn those dusty invoices into fast cash!  Preserving the patient / client relationship is invaluable to the professional service provider.

    Twenty First Century Associates can assist Professional Service Providers with the aforementioned collection issues. Whether it being in complete a/r outsourcing or with the unacceptable past dues.

    TFC is certified by the Commercial Law League of America. Only 105 out of the over 4,000 agencies have this distinction and we’re one of them. TFC continually trains its associates in collection law, HIPPA procedures, and in customer service techniques. 

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