The other day I was sitting in on a sales meeting with a prospective client – a small hospital – and I asked them if they had any roadblocks or concerns when it came to working with a collection agency.
They told me they recently had to fire two collection agencies.
One of the agencies they fired because their recoveries were too low – on a positive note, the hospital wasn’t getting any complaints from patients about this agency, but the recoveries were just not there.
With the other agency, it was the opposite challenge. Their recoveries were very high and so were the number of complaints coming in from patients about this agency. The high recoveries but low patient satisfaction wasn’t worth it in the end, this hospital felt. And as seen with the other agency, keeping patients happy and limiting complaints is important, but it can’t be at the cost of recoveries.
I’m telling you this story because…
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