Advice for the Financial Coordinator – Schedule time to address overdue accounts. Rather than letting collection activities take a backseat, give them priority treatment. Set aside specific times when you will focus on collecting overdue payments. The time allotted will depend on the volume of accounts needing attention. Various performance targets can be established as motivators, e.g., number of parents contacted per week, or the amount of overdue revenue collected per month.

Management Monday: Read a free excerpt from Dr. Roger P. Levin’s popular book, Practice Finance. Go here and click on the “Read an Excerpt” button.