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What is an aged debtors report and how should a clinic use it?
An aged debtors report lists amounts owed to you grouped by how long they have been outstanding, typically current, 30, 60, 90 and over 90 days. It shows not only how much is owed but how old, and therefore how risky, each balance is.
It matters because the older an invoice, the harder it usually is to collect.
How to use it:
- Work the oldest and largest balances first.
- Split by payer type, such as insurer, medical scheme and patient.
- Check for unallocated payments that make balances look older than they are.
Commonly misread:
- A low debtor days figure can hide a few very old balances.
- Treating all buckets as equally collectable.
Review weekly, assign follow-up to a named person, and record write-offs with a reason.
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