TIPS TO IMPROVE YOUR COLLECTION SUCCESS RATIO

There are many steps that you can take to improve your success ratio in your collections.

1. Obtain a completely filled in application, especially:
   • Social Security Number
   • Date of Birth
   • All telephone numbers including an emergency contact
   • Address including zip code
   • Signature on the agreement
   • Written policy (on the paper signed by patient/client) regarding interest, late fees, NSF fees, etc.
2. If a patient/client pays with a check, photocopy the check so we have their bank information.
3. If they move, update your form.
4. Attorney's Fees clause. If you do not have an attorney's fees clause in the signed agreement, you will not be able to obtain an award of your attorney's fees in the event of a lawsuit.
5. When you turn the matter over for collection, please provide:
   • Application
   • Contract
   • Billing History showing current amount due and all payments
   • Updated address and telephone numbers
6. Turn your collections over promptly. The Statute of Limitations is two years on a verbal agreement and four years on a written agreement. There are many considerations that determine when the Statute expires. The sooner you assign it for collection, the better the chances we can collect without having to file suit. If a lawsuit is not filed before expiration of the Statute of Limitations, you are forever barred from enforcing the debt by legal process. We can, however, still report the debt to the credit bureau where it will remain beyond the Statute date for the full 7 year term (from the date of last service). We are still allowed to collect the debt after the Statute date but NOT with legal process.