| Since 1979, Professional Recovery Consultants'
success has been built around the realization and understanding that to be effective,
our collectors must be effective "salespeople."
Every collector must "sell" the debtor on the benefits of paying their bill.
They often must be problem solvers, and in many cases must help the debtor find
a way to resolve the debt. We have found that to be successful, the collector
must utilize non-alienating communication techniques to achieve payment, because
if the collection process makes an enemy of your debtor, payment is much less
likely to be secured.
If we feel that a debtor's insurance coverage has been wrongfully denied,
we will act as a debtor advocate to facilitate proper payment by the insurance
carrier.
This methodology and approach makes PRC the ideal choice for
handling debtor-sensitive pre-collection programs such as insurance verification
and either in-patient or out-patient billing functions.
Our experience has taught us that by combining this approach with diligent,
methodical follow-up; we have been able to consistently achieve some of the highest
recovery rates in the industry, in a virtually complaint-free environment .
Of course, the cornerstone of any collection operation is the collector, and
at PRC, we utilize what we like to refer to as the " Effective Collector Equation ".
Effective
Collector Equation: Experience + Training + Monitoring + Incentives = Effective
Collectors
When hiring collectors, we look for highly motivated individuals who can work
flexible hours and will thrive in a competitive, professional environment. All collectors are
required to complete a "personality profile" developed specifically for the collection
industry. This profile identifies the personality traits that provide the highest
likelihood of success for a telephone collector.
Each PRC collector is reviewed on a weekly
basis as to the number of successful telephone contacts, claims paid, claims
billed, phone attempts, etc, by management.
We offer our collectors solid compensation plans, together with lucrative
incentive programs and benefits. As a result we enjoy an extremely low turnover
rate. With a single operational center, we do not have the high operational costs
of multi-branch agencies, which allows us to re-invest a higher percentage of
revenues back into the collection process. The result is a tightly controlled,
state-of-the-art collection operation.
Goals and performance parameters are established for every collector on a
client-by-client basis. Of course, PRC management works very closely with each
client to define goals and establish appropriate incentives for their accounts.
Losing even one customer can cost you more than you think.
To prove this point, we illustrate a hypothetical example of one lost customer
by calculating their lifetime value to your institution. Take for example a regular
patient who may incur an average of $2,000 in medical charges annually. That
same customer will incur these same average charges each year for the next 15
years. In addition, this customer has the ability to refer another three people
who have similar medical needs to your institution every year during those ten
years. Using the formula for lifetime customer value;
($2,000 X 15 years) + 30 referrals($2,000 X 15 years)
= ($30,000) + (30 X $30,000)
= $30,000 + ($900,000)
= $930,000
We can see that the cost of losing that one average patient is almost $1 million.
At PRC, we understand the value of each and every one of your patients, and take
the necessary steps to ensure that your patient relationships remain intact,
despite any number of difficult circumstances present in the collection
process. Accordingly, all PRC staff receive special and specific ongoing training
in order to prevent complaints from being generated. In fact, since inception,
PRC has never had its license suspended, or had its doors closed for even one
day due to censure for conduct or any other reason.
PRC Wishes to Clearly State Our Position that Complaints are
Intolerable and Will Be Handled with The Utmost Severity, Up To and Including
Immediate Termination of the Offending Collector
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