The Definitive Guide to selling your accounts receivable portfolio for Retiring Doctors and Dentists
You have made it to the promised land, retirement.
You have plenty to do as a physician to close or sell your practice.
What about your accounts receivable?
Instead of worrying about having to follow up with a collection agency in retirement or answer questions and chase paperwork on disputes, we offer a solution to provide you a lump sum of cash for them. We take over the responsibility of resolving the debts and dealing with any issues that arise so you can enjoy the next stage of your life.
An Easy Process
The process if selling your past due accounts to us is straight forward. You will provide us with a list of the accounts with balance due, service date, and other general information which we will review. We do not need patient information for this part of the process.
We will then provide you with a bid for the accounts. Upon final price agreement we will provide you a contract for the purchase. You can run this by your attorney for review before signing the dotted line.
From there we fund the purchase usually via bank wire transfer. Finally, you will provide us the full list of accounts, like you would a collection agency. A breakdown of charges or last statement provided with the electronic file will allow us to answer all questions and disputes on the charges in the future so you can sit back and enjoy your retirement.
How to get started
This part is easy, just get a list of your accounts together, and contact us! Your collection agency should be able to provide you with an active list of accounts and current balance with the date of service if you request. Alternatively, your bookkeeper should be able to put this together for you.