Bill Collectors
Costs Bill collectors work by acting on your behalf to collect payment. They usually take 20-30% of whatever funds they are able to collect. Many bill collector firms have a legal partner who will take your delinquent client to court if they continue to stiff you. If you decide to take them to court the […]
Invoicing & Purchase Orders
What is an Invoice? An invoice is a fancy term meaning the bill you present to the companies and hospitals after you have completed work for them. They typically have 6 components. Contact information – yours and theirs Invoice Date Invoice number Payment terms (how many days they have to pay you) Details of your […]
Warning Signs of a Non-Payer
Having Trouble Getting Paid? One of our members, Lee*, had agreed to do intraoperative monitoring for a small startup company. The company had initially hired her to cover for the whole month but once she arrived, they scaled it back to a week and told her beyond that it would “depend” on the schedule. After […]
Distinguishing Late-Payers from Non-Payers
Why it is important to distinguish between a late payer versus a non-payer? You may recall that in your legal agreement the word for how much time an organization has to pay you is “terms”. You probably opted for 15 or 30-day terms. Most organizations are diligent about paying on time according to your terms. […]
When To Submit a W9?
Under IRS rules, anyone who pays an independent contractor or LLC more than $600 must file a 1099-NED form with the IRS. This is where the term 1099 for referring to independent contractors comes from. For an entity to file a 1099 they must have the LLC or independent contractor’s information in the form of […]
