Increasingly squeezed by low reimbursement rates being set by government and private third-party payers, laboratories of every size and location find themselves under the competitive gun when it comes to improving their "bottom-line" performance. In today’s challenging financial environment, every lab must effectively manage its business operations by maximizing revenues including reducing the number of uncollected bills.

Yet the typical laboratory in the U.S. runs anywhere from 8% or more in bad debt thereby leaving significant dollars on the table in the form of uncollected bills. If an organization is successful in recovering even a modest percentage of this "lost" revenue, it can add many thousands of dollars that goes directly to the company’s bottom line. Though many laboratories utilize a collection agency to go after delinquent accounts, there is little reliable information available to help labs understand how to properly utilize a collection service in their business.

By participating in this audio conference program, you’ll be able to:

Gain a better understanding of bad debt and why some lab clients don’t pay their bills

Find out about the optimum aging of your receivables

Learn what your lab should look for in selecting a collection agency

Determine what constitutes an acceptable recovery rate of your receivables

Understand the potential benefits and drawbacks of using a collection agency

Discover key variables in working with a collection agency including how to develop a sound vendor/client relationship

You’ll also have the opportunity to ask questions – and get expert advice – in our interactive Q&A portion of the program. Join your colleagues from throughout the industry by participating in this high value audio conference. Take this hassle-free approach to gaining invaluable information and insight on improving your lab’s bottom-line by reducing bad debt and the number of delinquent accounts. There’s no travel, no overnight stays. And your entire staff can listen – for one low fee!

Continuing education is available. For more program information, please call 800-401-5937 ext. 2.

FEATURED SPEAKER:

John Macko
Executive Vice President, Vision Financial Corp.

Host & Moderator:

Dennis Weissman
President, Dennis Weissman & Associates, LLC and Founder & Executive Editor, Washington G-2 Reports