| The research has been completed and you have | | | | your own efforts. Ask a billing outsourcing |
| decided that your practice could benefit from a | | | | company to show you concrete data about |
| professional outsource billing service. Increased | | | | companies that they have helped and make sure |
| income, less distractions in the workplace, timely | | | | that they can offer you a clear benefit. |
| billing and follow-up are all advantages that your | | | | Letting Go |
| business simply cannot do without. However, | | | | Many believe choosing outsourcing your invoicing |
| there are a few things - beyond the basic | | | | and statements means losing complete control of |
| benefits - that are crucial to establish when | | | | your billing and compromising customer contact. |
| choosing an outsource billing provider. | | | | Discuss with your billing firm how much |
| Who's Got the Money? | | | | customized control over transactions you prefer. |
| Find out how incoming funds will be handled. In | | | | For example, you may want to review |
| short, where will people mail their payments? This | | | | transactions and payments before they are |
| is a vital thing to iron out for both parties. | | | | processed or you may prefer to have |
| Obviously, as a manager, you want your funds as | | | | transactions processed immediately for speedy |
| soon as possible. However, if your outsourced | | | | delivery. Some owners also prefer to review and |
| billing service is out of sync with your business' | | | | approve customers up for collections notices |
| records, it can undermine the whole system. | | | | before they are sent out. Others want their |
| Consider having a PO Box associated with all of | | | | outsource billing company to handle all claim |
| your billing, statement processing, and follow-up | | | | submissions from beginning to end. These are |
| correspondence. Unopened pieces can be | | | | very common examples of service modifications. |
| forwarded to the billing company at agreed upon | | | | Talk to your billing company and make your |
| intervals to preserve the integrity of your | | | | preferences known at the outset. They can |
| receivables and record keeping. No need to waste | | | | usually be adjusted as your relationship with your |
| resources paying your billing service to chase | | | | billing outsourcing partner matures. |
| money that has already been retrieved. This is | | | | Making the move to outsourcing billing and your |
| often a scenario which occurs with poorly | | | | accounts receivable management can move your |
| implemented proprietary systems - a better | | | | business forward in ways you may not have |
| route is to choose a company that integrates | | | | even imagined. Think about how your employees |
| your current data output seamlessly. | | | | can maximize customer care, innovative |
| Accountability | | | | marketing strategies, and overall office efficiency |
| Once you have decided who to work with, you | | | | if they had these duties taken off of their hands. |
| can establish an equitable contract by stipulating | | | | What could your practice do with the improved |
| the measures by which you will evaluate the | | | | productivity and liquid capital? Perhaps today is the |
| company's performance. Determine the | | | | day to stop wondering and start looking at the |
| benchmarks you want to see in collections over | | | | numbers. |