Account Recovery

As effective as all the tools of HealthTranz Payment Solutions are we still find that some practices will carry their own accounts and have a delinquent account challenge. Utilizing the latest internet technology, the power of an attorney and the credit bureau, we provide you a new and unique system which enhances your in-house efforts and gives you a superior alternative to the use of collection agencies. The result of this is more money sooner and at a dramatically lower cost.

Studies show that money depreciates in value the longer it remains uncollected. In fact, studies show that it loses 10% per month. So, the longer it goes uncollected the less you will actually be paid. What are your alternatives?

There are five options available to your practice:
1. Continued In-house effort – this carries increasing cost and steep decline in results.
2. Legal Action – Expensive and lengthy
3. Charge Off – Total loss, you just give up
4. The Collection Agency – High cost (avg. 35%) and low recovery (avg 14%)
5. MaxCollect

What is MaxCollect?

-A series of increasingly demanding collection letters, on your letterhead, directing all payments to you.
-The threat of…
i. Credit bureau reporting
ii. Collection agency effort
iii. Or intensive attorney intervention
-The impact of an attorney, who will write a series of highly effective collection letters and make phone calls on your behalf.

How does MaxCollect work?

MaxCollect will send four increasingly demanding “in-house” letters. If unpaid, the account is then forwarded to your attorney. Your attorney will send out a series of three letters on his letterhead, demanding payment. On accounts over $100 your attorney will make phone calls to get the account paid. If not resolved to your satisfaction, and the amount justifies further action, you now have an attorney who will litigate on your behalf. If the account remains unpaid, the debtor will be sent to national credit bureaus, if you so choose.

The results are significantly better than a collection agency at a fraction of the cost.