Standard Collection Procedures
Accounts are received and entered at CBM.
Acknowledgment of accounts is sent to the client.
Letter notice sent out same day as listed.
- Each of CBM’s letters are reviewed by an attorney and are in full compliance with The Federal Fair Debt Collection Practices Act (FDCPA)
A collector begins working the account.
The collector contacts debtor by phone.
Collector skip traces account.
- 35-50% of accounts require skip tracing
- CBM uses our own database of over 300,000 names and addresses, as well as credit reporting agencies, city-by-city listings and internet, skip tracing companies to track down information about your debtors.
- We consider success “Paid in Full”.
Credit Reporting Agencies
- CBM Reports to three major national credit reporting agencies: TransUnion, Equifax, and Experian
Appropriate Further Action
- Our goal is to receive payment in full. We provide advice, persistent contact, encouragement and creative suggestions for payment. If these efforts don’t work, we might recommend litigation.
Second Placement Collections
In this billing service, we monitor your pre-existing payment agreement with the patient, based on set payments each week, month, year, etc. We send monthly payment reminders to the patient, monitor compliance with the agreement, and notify you if a payment is missed. You determine the reporting period, which can range from bi-weekly to annually. Contract Management is for long-term payment of debts; that is, for many relatively small payments on a large amount. CBM charges a fee per notice sent, or a percent of the amount collected.
Early Out Service
Program is designed to work self-pay accounts and self-pay after insurance accounts during the first 120 days of the billing cycle. This program is very flexible, we allow you to determine the number of written notices, the content of the message and the number of personal and unattended messaging phone calls, within the guidelines of the law.
Private Pay Billing & Follow Up
CBM will work with you to develop a billing program that will meet your individual needs. This program is for individuals without insurance or with balances that remain after the insurance has paid. This program precedes, and can be used in conjunction with, our collection program.
Legal Referral & Follow-Up
CBM helps take away the hassle of suing debtors. We’ll do an asset check to see that the debtor has assets before recommending litigation, and we’ll always request your written permission.
CBM will act as a mediator between the debtor and the client when the debtor offers to pay off the balance for less than what is owed.
BM will verify an estate for a debtor who has expired.
CBM will create tailored reports to meet your needs. These reports are a free service to you.
Consultation / Educational Seminars
CBM Services will offer educational seminars occasionally on various topics relating to collections and billing. We also have the ability to come to your location and consult with you on your bad debt recovery at no extra charge.
Computerized File Transfer
To ease the process of turning over bad debt accounts, CBM Services has the capability of accepting accounts via email, secure FTP, mail, fax, modem, diskette, and the internet. To submit collection accounts online, click “Submit New Business”.
Our friendly customer service staff can contact your delinquent debtors by phone calls and statements to remind them of their obligation. Payment plans are established by the staff and debtors redirected to send their payments to CBM. On a monthly basis, CBM will forward the monies collected with a statement of activity to the client. Debtors not establishing a payment plan and/or not meeting their monthly obligations will be referred to CBM’s collection department.