While everyone wants to believe they are unique and special, consumers tend to ask the same types of questions during collection calls. Knowing the best way to answer those questions can make a huge difference in a company’s collection rates. In a recent webinar, sponsored by Peak Revenue Learning, a panel of professionals shared their strategies and best practices for tackling these frequent inquiries.
One of the key topics discussed was the importance of having a standardized set of rebuttals and responses, but with some leeway for collectors to make adjustments. As Jose Giron, Director of Operations at State Collection Service, noted, “We do keep a list of common rebuttals, but it’s important to tailor those to the specific client and debt type.”
Giron emphasized the need to balance compliance with authenticity, stating, “It’s about finding the right balance between being honest and direct, while also being empathetic and solution-focused.”
Rick Rainho, Chief Operating Officer at Kinum, echoed this sentiment, stressing the importance of phrasing. “Don’t ask, ‘Can you pay your bill?’ Instead, ask, ‘How do you want to pay your bill?'” he advised. “The way you frame the question can make a big difference in the outcome.”
When it comes to addressing consumer concerns about potential scams, the panelists highlighted the value of building credibility through various channels. “We make sure our company name is displayed on the caller ID, and we direct consumers to our website and online reviews,” said American Profit Recovery’s Bruce Beegle.
Larry Baker, Vice President of Operations at RGS Financial, added, “It’s also important to provide detailed information about our company’s history and reputation. Consumers want to know they’re dealing with a legitimate organization.”
The discussion also delved into the challenges of navigating insurance-related questions, particularly in the medical debt space. “Education is key,” Giron said. “Consumers often assume their insurance will cover everything, so we need to take the time to explain the revenue cycle and their specific responsibilities.”
Beegle agreed, noting, “It’s not always easy, but we try to provide a clear, concise explanation and then move the conversation towards resolution.”
For collections professionals looking to improve their approach, here are the panelists’ recommendations:
- Rainho: “Ask questions and listen. Don’t just assume you know the answer. Gather the information you need to provide the best possible solution.”
- Giron: “Make sure your entire team is using the same effective rebuttals and responses. That way, the consumer gets a cohesive experience, no matter who they speak with.”
- Baker: “Roundtable discussions with your agents can be invaluable,” he said. “Understand their pain points and work together to develop the best strategies.”
- Beegle: “Be clear, concise and confident when you’re giving these answers because if you’re timid, even though you might have the right answer, if you’re not giving it correctly, they’re not gonna register.”
