How Can Debt Collectors Maximise Recovery of Private Medical Fees?

Recovering Private Medical Fees

Whilst the NHS still dominates most of the UK, around 12% of the population still relies on private health insurance. Sadly, there are times when a patient fails to pay for private medical treatment, leaving the consultant out of pocket.

If you want to efficiently reclaim your medical debt without incurring additional costs, using a debt collection agency is your best option.

In short, any debt recovery agency regulated by the Financial Conduct Authority (FCA) or the Credit Services Association (CSA) is equipped with the necessary expertise and ethical standards to navigate the complexities of medical debt recovery.

They employ strategies that not only ensure compliance with industry regulations but also foster positive communication with patients, ultimately enhancing the chances of recovering outstanding payments while maintaining the integrity of your practice.

So, yes, debt collectors are your best option for recovering debt without leaving you further out of pocket.

Common Reasons for Unpaid Medical Bills

Several ways extra charges can be incurred may make it harder for the patient to pay, including:

• An insurance shortfall from the cover the patient had for the private treatment.
• Consultancy fees that have not been paid.
• Exclusions to insurance for a particular treatment in addition to the policy excess.
• Payment of medical procedures such as private dental fees.

Why Your Practice Deserves an Effective Recovery Solution

Medical consultants across the UK need a dedicated solution for recovering private medical fees. The purpose of a medical professional is to help those who are sick, so why should they be left unpaid?

Federal Management, alongside our partners, Frontline Collections, provides the leading private medical debt collection service in the country.

For those recovering private medical fees, this is the most beneficial solution in terms of both cost and effectiveness.

How Medical Practices Can Benefit from Expert Debt Collection

If you have not been paid, it is important to recover the cost of treatment as soon as possible. There are many options available for recovering private medical fees, all with different levels of success and costs.

You may try and recover the money alone by contacting the debtor and making them aware of the overdue fees. Using a solicitor may be your favoured choice, although this can be an expensive course of action.

A professional debt collection agency will greatly improve your experience when recovering private medical fees by streamlining the entire process. With their expertise, they handle delicate situations with professionalism, ensuring that your reputation remains intact while recovering outstanding payments.

This not only saves you valuable time but also increases the likelihood of successful debt recovery, allowing you to focus on providing quality care to your patients. Their knowledge of legal and ethical practices ensures a smooth, efficient, and stress-free experience in reclaiming what’s owed to you.

This is the most beneficial solution for any consultant needing to claim the cost of treatment. Here are some key benefits that illustrate why partnering with a professional debt recovery agency is more advantageous than engaging a solicitor:

Ethical and Effective Service

Throughout history, using a debt collection agency to recover money has had a stigma attached to it. The perception was that they could be heavy-handed and, as such, should be used as a last resort.

In the modern world, this is far from the truth, as agencies are seen as a successful and professional service.

Federal Management offers an ethical debt recovery service which considers the feelings of both parties. If the debtor cannot pay, we will meet them with understanding and arrange a payment plan that suits both parties.

Specialist agents can determine the cause and nature of why your medical fees have not been paid. As such, they will take the most appropriate actions to ensure the money is recovered with minimum stress. This includes a free pre-action consultation to ensure the medical debt is valid and recoverable.

Expert Mediation

The last thing someone needs when leaving the hospital is to be chased for payment for the treatment. Whilst this is true, they should have already been made aware that the payment was outstanding.

A professional debt collection agency can play the role of mediation between the debtor and the patient. Having a point of contact to mediate the process can be beneficial, considering this is a very difficult situation for all.

During the process of recovering private medical fees, agencies keep everyone updated about activities relating to the payment of the debt.

Our experts act most professionally to ensure no relationships are jeopardised.

Federal Management: Expert Recovery of Private Medical Fees

Federal Management provides our clients with a professional, expert solution that produces the highest success rates. No person or business should have to worry about not getting paid, and it is our job to rectify the situation.

The recovery of private medical fees is very much a daily occurrence for our expert debt collectors. Since 2004, consultants within the private healthcare industry have experienced recovery rates of 90% and above. Less than 1% of our cases require legal action, saving clients valuable time and money.

An accredited agency that specialises in recovering private medical fees for the healthcare industry should be considered by all doctors and consultants. Since 2009, we have maintained ISO:9001 accreditation and have been granted the Investors in People award for several years. Our debt collection services are accredited by the Credit Services Association, consistently achieving a 100% pass rate.

Reclaim what is rightfully yours with the expertise of our experts. Call us today to kickstart the recovery of your private medical fees.