Medical Billing Companies & Consultants in Oskaloosa, IA

Founded in 1950 and still owned by the same family, Credit Bureau Services of Iowa, Inc. (CBSI) operates as a debt recovery firm based in Oskaloosa, Iowa. Its client list spans medical providers, public agencies, educational institutions, law firms, utility companies, and both retail and business-to-business enterprises.

Rather than dealing with insurance claims or medical coding, the firm concentrates on delinquent balances. As a result, it suits hospitals, physician clinics and dental offices looking for a third party to pursue patient accounts that have gone unpaid beyond their due dates.

What CBSI provides to medical clients

The firm's work sits at the tail end of the revenue cycle, the stage at which providers chase outstanding amounts owed by patients. Its offerings include:

• Pursuit of delinquent balances on behalf of hospitals, clinics and dental practices
• A sequence of early-out letters targeting accounts that have just slipped past due
• Statement and invoicing support via an affiliated company, which mails bills, payment reminders and subsequent notices in the client's name
• Revenue cycle assessments, available when a client asks for one
• Locating patients who have relocated without leaving forwarding information
• Furnishing records of unpaid obligations to the major national credit reporting agencies
• Lawsuits or other court-based recovery steps when the firm judges them appropriate
• Services related to credit reports

Engagement structure

For ordinary recovery work, CBSI charges on a contingency basis, meaning a client owes a fee only when funds are successfully collected. The affiliated firm, Accounts Management Services, functions much like an additional arm of the client's in-house billing department. Its accounts receivable platform links with the client's systems to produce statements and log payments as they arrive.

This service mostly targets accounts fewer than 90 days delinquent, a window in which, according to the firm, empathy and consistency with the provider's image are especially important. Throughout an engagement, clients receive thorough reporting, and inquiries about new services are answered before the close of the same business day.

Treating debtors with respect

CBSI describes itself as a collector that genuinely cares about the people it contacts. Its goal is to bring in payments while preserving the debtor's positive view of the client organization. Instead of pressuring people with aggressive demands, staff learn to listen, gather the relevant details and reach arrangements acceptable to both patient and provider.

The firm notes that a number of its own collectors have experienced having accounts placed with an agency, giving them firsthand understanding of the people on the other end of the phone. Medical practices may find this helps them keep good rapport with patients while unpaid amounts are recovered. CBSI also emphasizes careful adherence to industry regulations.

Ownership and history

The business is led by its two co-owners, Leonard and Brian Grimes. Leonard serves as chief executive and brings over three decades of collections experience. In addition to holding a board seat with the Iowa Collectors Association, which he previously headed as president, he formerly served as leader of the Associated Credit Bureaus of Iowa.

His fellow co-owner took the title of president at CBSI in February 2020, having spent the prior six years directing sales and marketing for the firm. Brian currently heads the Iowa Collectors Association, the state affiliate of ACA International. Staff turnover at the agency is reportedly low, with the typical collector remaining roughly a decade.

Among the principles the company highlights are honesty, collaboration, responsibility and ongoing improvement. Organizations seeking a partner for delinquent patient accounts, as opposed to claims filing, may view CBSI as a solid regional choice.