A look into the world of medical debt collection

The Benefits of Medical Debt Collections

11/11/2020

The Benefits of Medical Debt Collections

CSC offers a unique peek into the world of medical debt collection.

People often think the world of medical debt collections as a dark underworld filled with intimidation and manipulation – a world inhabited by used car salesmen, auto repo employees, maybe politicians and telemarketers – a hall of fame for the most reviled professions in society.

Nothing could be further from the truth.

Respect and Dignity are Critical
When someone walks into the offices of Credit Service Company, they are surprised by the bright, welcoming appearance. Our personnel are friendly, clean-cut, and well-trained. They treat consumers with respect and dignity. We understand that our consumers do not want to owe money to a healthcare provider. Often medical bills are unexpected. The Federal Reserve, in a 2017 study, reported that 40% of Americans are unable to pay an unexpected bill of $400 without going into debt.[1]

We understand that consumers will feel a sense of trepidation when responding to a debt collector’s call. However, we genuinely believe we are there to help, and we do help. We work with consumers in a wide variety of ways to help them satisfy their obligation. Our work can be gratifying. Here’s a recent quote from a consumer:

“Lyssa was very sweet and nice; she did a great job explaining things to me. Lyssa was calm and worked with me during this difficult time, I appreciated that she would do that, and it almost made me cry.”
– J.Medina
Our collection specialists receive many compliments like this every day.

The Challenges
A collections specialist job can be rewarding, but it takes much hard work.

Compliance and Regulations
Collection specialists need a firm grasp on policies, procedures, and regulations. A consumer’s financial well-being hinges on our expertise. There is a steep learning curve to mastering the skill of medical debt collection. This industry is highly regulated, and several oversight bodies are watching.

Although there are many compliance standards collectors must follow, Credit Service Company goes above the legal requirements. In everything we do, and, in each contact, we make, we emphasize our company philosophy:

Do What is Right!

With so much information to assimilate, the average collector begins to feel competent at their job after having a month of hands-on experience.

Privacy
When dealing with private health information, a collector must establish a person’s identity. Easy enough, right? If one calls the cable company, the phone rep verifies sensitive data as well—nothing unusual there. The debt collector’s challenge is that the consumer has no idea they were sent to collections by the medical facility in many cases.

So, when a consumer receives a call out of the blue, from a stranger asking to verify personal details, many consumers fearfully hang up. Hanging up does not bring the consumer closer to resolution. However, suppose the consumer stays on the line long enough. In that case, a talented collector can ease their state of mind and understand the situation, ramifications, and options available to resolve the matter.

Building Trust
At some point, it’s bound to happen; most collectors will be victims of verbal abuse and hostility from the consumers. Debt collectors must have thick skin whenever a consumer becomes irate, threatening, hostile, rude, abusive, or crude. They are trained never to take anything personally and to listen attentively until the negative energy in the conversation dissipates. In the heat of the moment, a collector must remain calm to build trust.

A Strong B.S. Meter is Essential
If empathy is the cornerstone on which a successful debt collector builds their foundation of trust with consumers, then experience is the jaded whetstone on which they sharpen their suspicion.

Although a small minority, some consumers will do almost anything to avoid paying a medical bill. A debt collector must differentiate between consumers who are genuinely down on luck and those who are professional debt skippers. Luckily, after experiencing a variety of real-world scenarios, a collector instinctually develops a Barometer for Schemers (B.S. meter).

Doing Our Best
We always strive to do our best for our clients, consumers, and our employees. And it shows. If a collection specialist can resolve a medical debt, there is a cascading benefit to the consumer, the healthcare provider, and our employees. Doing our best is a sustainable strategy that fuels purpose and prosperity for everyone.

[1] BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. “Report on the Economic Well-Being of U.S. Households in 2017,” May 2018. https://www.federalreserve.gov/publications/files/2017-report-economic-well-being-us-households-201805.pdf, page 2.