Why Veterinarians Should Be Outsourcing Their Accounts Receivable

Why Veterinarians Should Be Outsourcing Their Accounts Receivable

Why should your veterinary clinic consider outsourcing for all of your accounts receivable and back office needs?

Many businesses today have made the switch to outsourcing their accounts receivable and back office needs. It makes excellent financial sense. By selecting an outside firm to manage these aspects of your business, you not only receive all of the benefits you would if you had a full service accounts receivable department on site, but you will also receive substantial savings by having all of these duties handled offsite on a remote basis. An article from Business 2 Community explains a few of the many benefits you can expect when you choose to outsource. Clients ARM can help you receive all of the benefits explained by our friends at Business 2 Community, and we can also help your vet clinic achieve specific goals and meet specific needs that you may have.

Providing Better Service to Our Animal Friends and Their Owners

As a pet health care provider your job is to help and to heal sick animals. For many clients, routine check-ups are affordable and they are able to pay out of pocket before services are rendered. However, there are many times, you likely see it on a daily basis, where a pet owner must opt for an expensive and unplanned procedure in order to save the life of their beloved pet. As you know, while the procedure or treatment may be medically necessary, it can be an unexpected expense that the owner is unable to manage at that time. It can be a heart wrenching problem for both the pet owner and your office.

There are options available to the pet owner, which many vet clinics already offer. Examples include offering credit, setting up payment plans for clients, or providing information on pet insurance. It should be noted that pet insurance, unlike health insurance for people, will have exclusions for many pre-existing conditions. If the pet had previously been diagnosed with a health condition, then offering pet insurance to cover the costs of treatment for that issue would not be a viable option.

Credit and Payment Plans for Vet Clinics

Offering credit to customers, or setting them up with a payment plan, may be the best option so that their pet can receive the treatment needed. There are risks involved with both practices, though. Ensuring you receive payment for the services provided is the only way to guarantee that your veterinary clinic is a success. Clients ARM provides full service accounts receivable management. We have the tools and experience that will help all of your clients receive the funding for the services needed.

If setting up credit lines for your clients seems like something that would work well for your vet clinic, Clients ARM can help with that, too.  When credit lines are setup, it is imperative that they not put your clinic in too much financial risk. Clients ARM can help you set appropriate credit limits for your clients.

Clients ARM can manage all of your accounts receivable needs. This provides you with more time to focus on your clients. You grow your client base, and we handle your accounts receivable management needs.

Since we are a full service agency, we can help you meet whatever specific needs your vet clinic may have!

These services include, but are not limited to:

Billing for your customers. We will send out monthly notices to your clients who have a balance due.

Follow-up calls and collections. In the event that a client falls behind on a payment, we are able to follow-up with them to collect any balances due. In the event a client, reneges on the agreed upon payment arrangement, we provide full-service collections as well. We have an astounding 90% success rate when it comes to collecting on delinquent and past due accounts. Clients ARM can provide you with first party or third party collections.

Management of all of your client accounts. We provide accurate documentation on all of your client accounts. Our specialized approach to intake and client care means that you have the most up-to-date information on each of your clients. Keeping accurate records is key to financial success.

Appointment Scheduling. While there will be times that a client will need to speak with a member of your staff directly about a specific concern regarding their pet’s health, by providing us with a single unused phone line, we are able to handle the day to day scheduling of appointments for your clinic.

Unique financing options. We have two unique financing options available to your customers: Hello Finance Manager and Hello Credit Manager reduce the risks of default on payment. Clients ARM will work with your clients directly to match them with the financing option that works best for their specific needs.

Creating documents that outline your clinics re-payment terms and conditions. Once a client fully understands what they are agreeing to, they are less likely to default on the payment plan that is in place. Many times clients don’t fully understand what they are agreeing to and those questions can lead to late payments because they’re not sure how to get the information that they need. Clients ARM is here to make sure that does not happen. We are available to speak with them directly as well as setup a comprehensive set of billing and payment documentation.

Contact Clients ARM today for your free, no-obligation quote and to discuss all of the services available to your veterinary clinic. We are here to help make your clinic a financial success. We help you focus on what you do best, saving the lives of your client’s pets. We look forward to speaking with you!