tci ED Coding & Reimbursement Alert - 2019 Issue Q3

Reader Question: Here’s How to Monitor Collection Agencies

Question: We’ve had some issues with our collections firm in terms of accuracy and transparency. How do we know if it’s time to let them go? Texas Subscriber Answer: Once you’ve decided to turn an account over to an outside collection agency, you know you have a big problem on your hands. The recovery rate can be below 10 percent if the account is aged 180 days or more. The agencies don’t earn anything unless they collect, so in general, you really don’t have to worry about them falling down on the job. How...

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