Turning Red to Black Blog

Turning Red to Black Blog

Turning Red to Black Blog: Discussing Topics Related to Revenue Cycle Management, Debt Collection, Debt Recovery, Debt Management, Billing Operations and Billing Procedures

Tipping Point #2 - How Big is Your Toolbox


“I’ll show you mine if you show me yours.”  At Simon’s Agency, we always tell our clients:  “The sooner you get your placements to us, the more money we’ll remit to you.” While we encourage our clients to take their very best swing at collecting on their delinquent accounts, we also realize there is only so much they can do before they are out of tools.  So why not take your swing but then get those over to us sooner rather than later instead of striking out.  90 days is good.  But 60 days is better.  And at 30 days… well we’re going to do some pretty incredible things to your bottom line.  You know the whole “Red to Black” thing we’ve got going on here?

Not to ruffle your feathers, but I already have a very good idea about some of the things there are in your toolbox. So, why don’t we just start digging through mine?  Let me show you some of the advanced technology and procedures we employ when we do what we do best – collect money for our clients.  This is a very important aspect of our toolbox – it’s specialized.  No, we cannot fix your computer or tell you how to dismantle a nuclear reactor, but we can darn well show you results when it comes to collecting money.  Results in our world are big fat checks we write to our clients on a monthly basis.  How often have you heard that from your chosen vendor?  We stick to what we do best and when we talk to our clients about what they do best – billing and collections are generally not part of the conversation.

Now the first thing you’ll notice as we open up our toolbox is simple – no hammer.  Nope, not a single tool that is used to smash, beat or otherwise break.  The fist-pounding days are the lore of legend and are long past their effectiveness.  In contrast, our positive bedside manner with your customers and patients is the first tool that sets us apart from the competition and probably mirrors the same tact you take with your customers before they get to us.  Not to mention the fact that it’s proven to work much more effectively and efficiently than engaging in negativity or hardline tactics.  So when you turn your accounts over to us for collections you are not throwing your customers to the wolves.  We will treat them with the same dignity and respect they have come to expect from you.  After all, we are an extension of our clients and we take this honor and responsibility very seriously.

Let’s see what else we have in here… Ahhhh… here’s the second tool I was looking for – our tape measure.  Yup, that’s where it all starts for us – statistical analysis.  Not only do we measure every single piece of information on every single account we receive we also have an 800,000+ consumer record database on which to compare, contrast and match new placements.  It’s a pretty big tape measure and right next to it sits our wrench, also known as our internal office network which includes all sorts of differently sized bits:  a proprietary database developed over two decades and unmatched in our realm, state-of-the-art phone system and a dialer capable of placing 25,000+ calls each day and a bevy of other smaller pieces which when tweaked and tightened on a regular basis allow us to maximize our time and effort in the right areas in order to produce the best results.  The best wrench is a well-oiled tool, as are the processes we have developed at Simon’s.


What else do we have in here?  Oh yeah!  This one tool that doesn’t get used quite as much as the others but it turns out it’s probably the most effective tool we own – our drill, which in our world is called credit reporting.  When none of the other tools seem to be working, we pull this one out by reporting delinquencies to the major credit bureaus – drilling into the heart of personal financial records and accountability.  This doesn’t always have an immediate impact but over time it is an effective tool.  Anyone who needs to secure a loan – be it for a car, home, education or even a credit card – will need to clear their report of negative lines.  Many times, their first call is to Simon’s.

Looking deeper into the toolbox – there they are – the needle-nose pliers!  This is our research team which uses its own set of tools to scour the internet and public records to find contact information for those accounts that do not come over to us with accurate or current information.  If these accounts remain unresponsive but cross a certain threshold, this tool is useful for digging into financial data to locate assets which allows us to make informed decisions regarding which accounts are worth pursuing legally.

Last, is the actual toolbox itself.  It’s the containing workforce which allows us to use these tools effectively and efficiently. Quite simply, it’s our employees and our 50 years of experience in doing this work.  We have been around a long time and survived a half century of adversity all while learning and thriving in a constantly evolving environment.  It is our experience and training which allows us to have mastered the tools and bring them as a whole to every single account we receive.

While it may not be the size of your toolbox that matters, it is certainly how you use it that is the best reflection of your ability in your field.  Let us help you recover your outstanding balances and get you back to do what you do best!

To learn even more about our toolbox, check out the Simon’s Method page of our website or click here to contact us now!


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The Simon's Method of Debt Collection

Simon’s utilizes an advanced information system and employs a fully trained and experienced staff of collectors operating in a state-of-the-art call center. But there is much more that goes into our collection philosophy.


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