Commercial Trade, Inc. opened its doors in March 1967 and has operated under the same management philosophy and management personnel since its inception. Because of our professional approach, Commercial Trade, Inc. guarantees a substantially greater return on your accounts while maintaining and preserving both our reputations.
Extreme care is taken in the hiring and training of all personnel to assure that professionalism is maintained on all levels. We seek only to hire collectors with at least 5 years experience. While our primary objective is to collect the monies, we have the parallel concern of continued goodwill for our clients. Commercial Trade, Inc. has a strict code of ethics in force which is constantly monitored.
Recognizing that there are very few areas that can distinguish one good agency from another, Commercial Trade, Inc. prides itself on being a cut above the rest when it comes to client services issues. Our Client Service Team’s full-time responsibility is to act as the intermediary between our clients and our collectors so that we can assure that our clients needs and wishes are well represented and properly acted upon. Employing quality client service personnel enables us to be more responsive than other agencies when it comes to client service issues, and also affords us the opportunity to have our Client Service Representatives visit with our clients at their facilities in order to assist with document retrieval, assignment processing, etc.
Collecting Your Accounts
- Immediately following placement, our first notice is sent to the patient/guarantor advising collection activity has begun, at the same time acknowledgement of assignments are provided to our customers.
- Accounts will be assigned to our HEALTHCARE RECOVERY DEPARTMENT which maintains bilingual, large balance, and small balance staff desks.
- Immediately upon assignment a personal contact is attempted and a demand for payment is made. If initial contact is not made the account is then scheduled for further attempted contacts at various times until contact with your patient / guarantor is made.
- Commercial Trade, Inc. does not have a “pre-collection desk” whereas, with most agencies, an inexperienced salaried collector makes on hard demand prior to placing the account in the hands of an experienced collector. Also, we do not utilize an “in house letter service” which would only delay personal attention for a period of up to 45 days.
- Accounts deemed not collectable are referred to management for review, regardless of the amount. Accounts that appear not to be collectable such as incarcerations or bankruptcies are placed in a suspense status by Commercial Trade, Inc. management. If after reviewing an account Commercial Trade, Inc. management feels that further activity is warranted, the account is either returned to the collector or placed with a supervisor for follow-up. Accounts deemed to be skips are scrubbed through our information database for updated and new information, then placed back onto a collector’s desk for immediate follow-up.
- Reports to credit agencies are made thirty (30) days after accounts are assigned for collection. Accounts paid within the first thirty (30) days after assignment will not be reported to the credit agencies. Accounts that are paid in full after the first thirty (30) days will have the report status changed to “paid account”. Accounts which are disputed during the initial thirty (30) day period will not be reported until the dispute is resolved or after thirty (30) days, whichever comes first. Accounts which are disputed after the initial thirty (30) days which have been reported will either be re-classified as a disputed account or deleted until the dispute can be resolved. Decisions as to the status change or deletion will be mde on a case-by-case basis by Commercial Trade, Inc. management.
- Commercial Trade, Inc. will pursue recovery of delinquent insurance accounts and insurance denials as follows:
Upon notification or discovery that an account is considered to be a Workman’s Compensation claim, Commercial Trade, Inc. will:
- Commerical Trade, Inc. will review all insurance verification information provided to us for billing or rebilling purposes and will contact the insurance company to verify coverage prior to billing or re-billing. We will pursue collection of any amount due from insurance companies where permissible.
- If insurance benefits are denied, we will begin collection procedures against patient or guarantor.
- Commercial Trade, Inc. will proceed with collection activity on any insurance disputes which cannot be worked out between the patient or guarantor and their insurance company within 30-45 day period.
Upon notification or discovery that an account is a personal injury case, Commercial Trade, Inc. will contact the patient’s attorney and file all necessary liens to protect your interests. Personal injury claims will be monitored by an experienced collector or Commercial Trade, Inc. management.
- Determine if the employer disputes responsibility for payment of the account.
- If the employer disputes the claim we shall pursue payment through the employer’s insurance carrier, the Workman Compensation Appeals Board, your customer’s attorney, Uninsured Employer’s Fund (UEF), the employer, or the patient, or guarantor.
- Legal collection procedures are decided on a case by case basis with accounts under $500 referred for legal action for the purpose of recording of abstracts as well as asset liquidation. Legal remedies are pursued only when necessary to insure collection. All legal accounts are followed-up and supervised by management to ensure return of moneys through judgments and execution.
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