February 2000
The Director - Features
No More Bad Debts
Are you afraid to ask a family how they will pay for your services?
Like all for-profit businesses, the main purpose of a funeral home is to make money. If a funeral director does not make money, they cannot keep their doors open no matter how well they perform their job. Yet, it is often very difficult for some funeral directors to approach families on how they are going to pay.
In No More Bad Debts, Richard N. Abrams explains how he requests payment by having a separate section called "Payment Policy" on his General Price List (GPL). He advises what the policy should say and discusses various ways of payment including bank financing and credit cards.
Abrams is chairman and CEO of Funeral Financial Systems, Ltd., in Northfield, IL, and a CPA who has given numerous seminars on improving cash flow for funeral service. Abrams is also on the board of directors of a national bank that trades on the American Stock Exchange.
