Receivables Lifecycle Management
In this day and age where “Cash is King” and the ability to manage receivables is critical to survival, the decision to partner with PSG is one that makes a positive statement to your shareholders and more importantly, your bottom line.
The receivables process can be defined in the following steps:
- Credit approval and use
- Bills/Invoices prepared and sent
- Client follow-up needed
- Recovery process needed if they do not pay as per terms
- Legal recovery process needed if delinquency enters write-off status
Every step described above requires techniques and best practices that are critical to your ability to receive all receivables due to your company. If your current receivables management operations are not consistently trained nor have the technology and tools to properly manage the process of getting your money back anywhere along the way, then your risk of recovery increases dramatically. In addition to helping with your receivable recoveries, PSG also provides billing services. We specialize in Medical Billing and we can help you with all your billing needs. By providing billing services in addtion to collection services, we can provide a smooth transition from the billing phase to collection phase of your receivables management lifecycle.
The portal services offered by PSG ensure you can optimize your ability to get all your money faster and in full over the lifecycle.
When it comes time to partner with a company who can work closely with your accounts receivables team to properly manage all stages of your receivables lifecycle, PSG should be your choice.
Contingency Fees That Protect Recovery Ratios
- In the past, collection companies quoted you low fees to get your business, this insures that they could not work your accounts with any extended effort or expense. Their hope was to get the “cream” off the top and not spend any time or money working the accounts thoroughly.
- PSG evaluates your business with a member of management working your accounts first, thus allowing us to recover maximum dollars and to train the recovery agents specifically on your business.
- In many cases, PSG can add your cost to the delinquent debtor’s bill, thereby costing you NOTHING.
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Faster Floor Time – Accounts Worked Now!
- PSG does not believe in accounts sitting in the system, being lettered and/or not being worked. Most collection companies will wait 30 to 60 days before they are placed on with a collector and start making calls.
 In PSG’s contact center, your accounts are worked within 48 hours after data input. This means maximum
revenue recoveries for you NOW!
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Professional and Adaptable Recovery Team
The present economy does not allow for any margin of error in relation to debtor contact. Our recovery agents are trained and monitored by our management team on a daily basis.
A management team member is on the recovery floor at all times to ensure quality recoveries and skip tracing performance.
This hands on training approach insures and produces minute-by-minute training on each debtor contact.
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Our Experienced Management Team brings over 60 years of Experience in the Collection Industry
CEO/Client Development
Mr. Shaffer joins Profit Services Group (PSG) from more than 25 years in the medical collections and receivables management industry. He has built collection agencies and in-house collection systems for local hospitals and clinics and managed the processes for them. Learn More...
Mr. Shaffer joins Profit Services Group (PSG) from more than 25 years in the medical collections and receivables management industry. He has built collection agencies and in-house collection systems for local hospitals and clinics and managed the processes for them.
Mr. Shaffer began his collections and receivables management career with Capital Credit Corporation in 1980, then with National Credit Service through the 1980's when the collection industry was growing and becoming a major force in the USA. Tim started his own collection agency in Georgia in 1986. He sold the agency in 1990.
Mr. Shaffer started Southeastern Recovery Systems in 1991, a Georgia medical/retail collection business and continued the business until June 2008, when he decided to leave and join the PSG team. During the ownership of SRS, Tim started six in-house hospital systems including a fourteen year contract with Stephens County Hospital in Ga., managed and directed the district office of American Medical Response for the state of S.C. , conducted a per-sale clean up for Rabun County Hospital that progressed into a three year contract with In Med Group / Mountain Lakes Medical Center and did consulting and training for SunLink Hospital Management Group while maintaining a regular on-going collection agency.
Mr. Shaffer's experience in the healthcare collections and billing industry will give PSG the strength and knowledge necessary to become a leader in building, deploying and managing the best in collection solutions.
CFO/President of Operations
Mr. Freitag has managed operations and business development for the collection industry for the past 25 years. He was previously the owner of Credit Collection Services Group and is now owner of the Profit Services Group. Learn More...
Mr. Freitag has managed operations and business development for the collection industry for the past 25 years. He was previously the owner of Credit Collection Services Group and has now joined the executive team at Profit Services Group.
Mr. Freitag has been successful at building strong and lasting relationships with clients across the USA and specifically in the health care and medical field. His expertise in client development and building client loyalty brings a strong advantage to PSG and enables us to continue to prove to our client base our commitment to quality, loyalty and performance.
Mr. Freitag has worked in each area of the collection industry, including business development, management, on-shore and off-shore operations development, and sales. His experience in collector training, motivation and goal-setting as well as his understanding of the overall mechanics needed to be successful will prove to be essential to the growth of Profit Services Group.
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