Delegating your A/R Williams, Alexander & Associates (WAA) understands that receivables under 90 days old don’t always need an aggressive collection approach. Our Accounts Receivable Management program (ARM) is designed for those accounts that are less than 90 days old. By utilizing a third-party to manage your receivables, you will be able to reduce your internal costs and limit need for internal staff. Outsourcing your ARM will save you money on employees benefits ie., sick time, vacation time and possible healthcare costs. One of the major differences in utilizing an outside vendor is that, while most staff at the provider level is trained at processing accounts in regards to billing and coding, staff at a topquality vendor are trained in negotiation, communication, building rapport and closing the sale.
What you can expect: • • • • • • • •
Professionally printed collection letters customized to fit your needs. Letters designed to encourage a positive response from your clientele while maintaining a positive relationship. Calls are monitored and scripts can be customized. All incoming calls are handled by the vendor. There are no up-front fees. All accounts handled on a contingency basis. All monies collected will be paid directly to you. You can forward your accounts to our full-service collection program at any time.
Methodology: Accounts placed in A/R Management will receive all information as if it came directly from your office. At this point, Williams, Alexander & Associates is transparent to your client or patient. We are handling your accounts strictly as an “extension of your back-office”. WAA understands that your clients or patients may see us as a reflection of your business and you can be sure all calls are handled in a professional manner.
Compliance: All of our activities are in full compliance with federal, state and local laws and/or regulations. WAA is in full compliance with the Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) We are an active member in the ACA International. Our employees are professional A/R Management specialists, half of whom have been with the company for well over five years. Periodic in-house training sessions are held with materials from the ACA International. Weekly department reviews are given to identify individuals who may need additional support. The ACA International, as well as ongoing education in our Compliance Department, ensures we remain on the cutting edge of changing regulations affecting this vital area of financial management.
Rates: Hiring Williams, Alexander & Associates for your accounts receivable needs will be based on a contingency, between 4% - 7%, determined by volume.