Medical Collections Penfield NY

Medical collection services are agencies that take the debts from medical offices such as doctors and hospitals and they attempt to collect on debts that have not been paid.


1 . Local Companies

Common Wealth Financial Group
(585) 248-5150
2570 Baird Rd
Penfield, NY
Medvice Life Settlements Inc
(212) 239-2200
350 5th Ave
New York, NY
Mosaic Capital Advisors Inc
(212) 288-9920
321 E 69th St
New York, NY
L M Waterhouse Inc
(914) 332-7222
220 White Plains Rd
Tarrytown, NY
Interbridge Capital Advisors
(212) 566-0495
14 Wall St Ste 1225
New York, NY
Townsend Business Professionals
585-671-1780
1900 Empire Blvd, $257
Webster, NY
Prudential Financial
(585) 899-3490
2132 Five Mile Line Rd
Penfield, NY
Groveman Fred CPA
(212) 354-1122
19 W 44th St
New York, NY
D F King and Co Inc
(212) 493-6951
48 Wall St Fl 23
New York, NY
Squire Insurance & Financial Services
(585) 757-2777
8 N Main St
Elba, NY

2 . What Are Medical Collection Services?

Medical collection services are agencies that take the debts from medical offices such as doctors and hospitals and they attempt to collect on debts that have not been paid. Many doctors offices will pass on their uncollected accounts to medical collection services so that their staff can focus on serving existing customers that are in the offices. Medical collection services specialize in collecting debts from those that have not paid or have not responded to attempts to collect the debts. Medical collection agencies have been created to take the burden of collecting debts off of the individual medical offices, but still allowing the office to get paid for services that have been rendered.

3 . Why You May be Sent to Medical Collections

If you have recently received a letter or a phone call from a medical collection agency there is a reason for it. Typically it means that you have not paid a doctor bill that is more than 120 days old. Many doctors do not have the staff or do not want to pay their staff to attempt to collect debts, so instead of spending more time trying to get you to pay a debt by calling you or sending you bills they will sell the debt to collection agencies for a small loss. The small loss that occurs when they sell the debt is usually worth it to the doctor because it gives them some capital to continue running their business and they can write off the loss.

4 . How Medical Collection Agencies Can Benefit the Business

Many doctors offices utilize medical collection services because they have many unpaid debts that they no longer want to pursue. Each doctor's office has a different period of time that they are willing to seek out the patient that has not paid, and at that time they simply want to move on. Doctor's offices can benefit from medical collection because it allows for them to keep their staff focused on serving the patients that are in the building and paying. When they pass on the unpaid debts to medical collection agencies they are washing their hands of the debt.

Many times doctor's offices and hospitals will actually sell their debts to the medical collection services for a small fee. This seems backwards, but the resources that the medical establishment is expending in attempting to collect the debt are usually more than the fee that is associated with the medical collections. For this reason, it pays for the medical establishment to pay the fee associated with the medical collections services and be done with the debt altogether. While medical businesses have to pay to pass on their debts, it is usually a payment that the businesses make without thinking twice because at the end of the day it is saving them money and allowing for them to focus on patients that are in the building, and also gives them the capital needed to continue to run the business.
Many people assume that doctor's offices are not hurting for liquid funds, but this isn't true. Doctors have to work very hard to make sure that they can pay for the building that they work in, pay insurance, continue to pay for new equipment and supplies, and of course pay those that work for them. If no one paid their bills the doctor's would soon be out of business, or at the very least they would not have anyone working for them. For this reason, the practices and businesses are willing to take a bit of a loss when they sell their debts so that they have some liquid funds.
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