BC Advantage - 2015 Issue 3

Lessons from inside a collection agency

I recently started working for Transworld Systems, one of the nation's largest collection agencies, after being a practice manager and practice management consultant for several years. As a consultant, my main focus was accounts receivable and I sometimes acted as a biller to get practices back on track. I used a conventional collections agency when accounts were at 90 days or more past due with varied results. I figured that the low success rates of my conventional percentage-based agency had to do with the nature of the debt and I was happy if I got anything at all back...

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