Many long term care providers (including skilled nursing, assisted living and personal care homes) may have a written collections policy. If yours doesn’t- why not? And if yours does have such a policy- have you evaluated whether it is really working for you?
Written policies are important. This industry can have a lot of turnover at times, and a written policy should clearly define who is responsible for what task, and in what time frame it should be completed.
If you have a written policy, every now and then it is good to have a “check up” to determine if your policy is meeting your needs. Where is your policy failing you? Are there parts of the policy that are unclear?
Your collections policy should contain:
Benefits of a strong collections policy:
One of the services that I offer my clients is to review their collections policies and work with staff to determine where their policies are falling short. This process has helped to greatly decrease the number and amount of unpaid accounts. For one such client, a year after implementing a new policy, the client went from 19 outstanding accounts down to five. Please contact Mike Cassidy if you are interested in this kind of assistance.
February 07, 2018
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