In the world of medical vendors who service hospitals and nursing homes, collecting on invoices can sometimes be a bothersome task. Some business owners will tell you that having a client who routinely pays within 30 days is actually a good thing when you consider the fact that it’s normal for some healthcare facilities to stretch out their payables to net-60 or net-90. (Click here if you would like to read why hospitals and nursing homes have a hard time paying their vendors.)
Wilson Cole, founder of Adams, Evans & Ross (AER) collections agency, wrote an article in Recruiting & Staffing Solutions Magazine (RSSM) which discusses the warning signs oft a company who is about to close its doors.
Click here to read Cole’s article: The Secret to Successful Collection and learn about the four stages a company typically goes through before it closes its doors for good.