A Company's profit margin is not only reduced by the problem of outstanding receivables, but also by the apparent and the hidden costs in collecting those delinquent accounts. By utilizing an agency like Kross, Lieberman & Stone, you can by-pass these hidden costs, reduce your write-off, recover more money, and expense collection fees.
The cost incurred to set up your own system of collections can be shocking. Below we have charted the cost of just one employee working 500 claims. This chart does not specifically indicate cost of phone, computers, printing expenses, or commissions. As you know there are many facets to collecting just one past due account. Taking this into consideration, along with the fact that many accounts that are extremely past due are only waiting until a third party is involved anyway, you will see the savings involved when utilizing an agency is paramount.