Medical debt is a major problem in the United States. Millions of patients have fallen behind on their medical bills, resulting in severe accounts receivable issues for healthcare providers. Kinum specializes in collecting medical debts. Our team have been serving hospitals, doctors, dentists and ambulance service providers, delivering high recovery rates for our clients.
No one likes sending patients to collections, but sometimes it’s needed. However, if bill remains unpaid for too long (usually over 3 months), collecting it directly gets expensive for the doctor’s office. If you miss out on the owed payments, it affects your ability to provide good care. Moreover, it’s unfair to others who pay their bills on time might feel resentful if others don’t face consequences for not paying.
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Kinum’s Methodology for Medical Debt Recovery
We work with debtors, not against them. When a debt collector treats patients with courtesy and respect, it often astonishes those who have a predominantly negative opinion of debt collectors. If the collector politely explains the consequences of not paying and provides multiple options for debt repayment, they have a higher chance of successfully collecting the debt compared to employing aggressive tactics. Forcing someone to pay often leads to annoyance and reduces their willingness to pay.
That’s the reason we have …
Over 1300 Google reviews averaging 4.85 out of 5.
90% of reviews are from people we’ve collected money.
- We protect your reputation.
- Follow all Federal and Local debt collection laws. HIPAA compliant too.
- Free address check, skip tracing, bankruptcy check and litigious defaulter check.
- Licensed to collect in all 50 states and Puerto Rico. Even if your patient crosses state lines, we can handle it.
- We treat your patients with dignity and respect when recovering your unpaid invoices.
- We consistently deliver high recovery rates and far exceed the industry average.
- If you want, we can report unpaid debts to credit bureaus at no charge.
When a debt collector approaches patients with dignity and respect, it frequently surprises those who hold a strongly negative view of debt collectors. If the collector courteously informs the patient about the repercussions of non-payment and offers various payment options, they are more likely to successfully collect the debt compared to using forceful methods.
Reviews given by Doctors
“We have been using Kinum for about 2 years. They are wonderful to work with. Todd our account manager is always very helpful and answers our questions promptly. I highly recommend Kinum for all collection services!” – ENT/Otolaryngology
“We have been working with Kinum for almost a year for our small medical practice. Kinum integrates with Athena making working with collections seamless. The Kinum portal is straight forward, easy to use and you can see the status of your accounts at any time. We have had the same personal account manager Todd Hines from the beginning with the additional support of Chris, both very personable, and always available to answer questions. Using Kinum has increased our recovery of past due bills quicker than we could have on our own. In addition, the customer service has been super, always pleasant and willing to help. We would highly recommend Kinum for your collection needs!” – Colorectal Surgery
Reviews given by Patients
The “collector” who helped me with my medical bill payments was awesome. She was kind, understanding and did not pressure me at all. I have a very high amount of medical bills that I am trying to pay off and Kinum is a company that should teach all debt collectors the fine art of respect and dignity.
Paying off a debt collector is never a fun thing to do. However, the collector that handled my case was so nice and very patient with me. My account was flagged for fraud and the last transaction wouldn’t go through. The collector was very understanding and allowed me to get it situated. She gave me her direct line number, when I sorted everything out I just called her back! She was super friendly, given the circumstances. I hope everyone has a debt collector like her!!!
Ann is a very caring compassionate person that understood my situation. She worked very hard on my case and took the time to come to a good conclusion for me. She was very patient and kind. You are very fortunate to have Ann Meredith as an employee at Kinum Inc. She is the best!
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Things to know before hiring a medical collection agency
When hiring a collection agency, there are several crucial factors to consider to ensure you choose an agency that meets your needs while adhering to legal and ethical standards. Here are key points to look for, along with some questions you might ask:
- When to Submit Accounts: The timing of account submission can impact the success rate of collections. Generally, the sooner a delinquent account is handed over to a collection agency, the higher the likelihood of successful recovery. Ask the agency about the optimal time frame for submitting accounts. Sending patients for collections after 90 days ( post 3 billing cycles) is ideal.
- Fixed Fee vs Contingency Collections:
- Fixed Fee: You pay a set amount per account, regardless of the amount collected. This can be cost-effective if your accounts are less than 1 year old regardless of the balance. In most cases, this cost can be covered by declaring this cost as a business-expense when doing taxes.
- Contingency Collections: The agency takes a percentage of the collected amount. This can be more motivating for the agency to recover larger debts or those over 1 year old.
- Ask: “Can you explain your fee structure in detail, including any additional charges?”
- Credit Reporting: Decide if you want the agency to report debts to credit bureaus. While this can motivate debtors to pay, it may also impact their credit scores significantly.
- Ask: “How do you handle credit reporting, and what are the implications for debtors?”
- Reputation Impact: Consider how the agency’s collection tactics might affect your reputation. An aggressive approach might recover more debts but could harm your customer relationships.
- Ask: “Can you describe your collection approach and how you ensure it aligns with my company’s values?”
- Collection Laws Compliance: Ensure the agency complies with relevant laws like the Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA), and the Health Insurance Portability and Accountability Act (HIPAA, for medical debts). Lets not forget the latest law which collection agencies must follow.
- Ask: “How do you ensure compliance with state and federal collection laws?”
- Importance of Data Security: In today’s digital age, data security is paramount. The agency must protect sensitive debtor information to prevent data breaches and comply with privacy laws.
- Ask: “What measures do you have in place to ensure data security and privacy?”
- Questions to Ask the Agency:
- “Can you provide references from clients in my industry?”
- “How do you handle disputes and complaints from debtors?”
- “What is your success rate for debt collection?”
- “How do you stay updated with changes in collection laws and regulations?”
- “What technology and tools do you use for debt collection and client communication?”
Choosing the right collection agency involves balancing effective debt recovery with maintaining your reputation and ensuring legal and ethical compliance. Thoroughly vetting potential agencies and asking the right questions can help you make an informed decision.