Assisted Living Community or the Assisted Living Facility (ALF), are used by millions of senior citizens all over United States focusing mainly on senior living, assisted living, nursing and memory care. Assisted living community centers are committed to serving every senior with the respect and dignity they deserve while providing comfort and fulfillment. Some senior care services are outsourced to facilitate inpatient and outpatient services, medication management, physical therapy, occupational therapy and speech therapy.
Unfortunately, the ALF or the senior care centers are regularly faced with accounts receivable and unpaid bills which are hard to collect. Usually, the senior citizens are responsible to make their own payment, in other cases their children, a cosigner or other relatives are responsible. If they fall behind on payment obligations regardless of the reason, they are contractually responsible to make the promised payment and an Assisted Living Facility has every right to attempt to recover that money. Accounts which are over 60-90 days past due are often forwarded to a professional debt collection agency.
|If you are looking for a cost-effective debt collection agency with experience of working with Assisted Living Communities and Medical Collections: Contact us|
A collection agency serving the senior care centers should have in-depth knowledge of current state and federal collection laws and HIPAA privacy regulations. An experienced debtor collector of a collection agency understands the delicate nature of both parties (the Assisted Community Living facility and the Senior), therefore the recovery is achieved using an amicable and diplomatic approach.
Senior living communities include independent living, assisted living, retirement communities, nursing homes, hourly care and hospice care centers. Aging Americans and those which Alzheimer’s or physical disability rely on Senior living centers extensively. The accounts receivable staff of assisted senior living centers are responsible for oversee daily transactions, including accounts receivable/payable, general ledger, journal entries, insurance claim followup , insurance denial, bank reconciliations and post payments daily to resident accounts.
To recover money from past due accounts, a collection agency will send debt collection letters followed by collection calls and till continue to do so till the bill is paid off. These agencies have access to far more sophisticated debt collection tools and services which the in-house staff of a senior living center do not have.
Some bill recovery services are flat fee based and others are contingency based. Due to the delicate nature of collections, almost all Assisted Living Community forward account to a third party collection agency who can even take the debtor or the responsible party to court as the last step if required and approved by the center/creditor, provided the balance if significant.
|Summary of Collection Agency’s Services
|Collection Letters Service|
|Collection Calls Service|
Without a proper accounts receivable plan the retirement living centers and senior care centers like Home Instead and ResCare would find their accounts turning red and a reduced cash flow which may impact their daily operations.