Top 5 Signs Your Business Needs a Collection Agency
From small businesses to enterprise organizations, companies often seek a partnership with a collection agency when past due accounts receivables begin to mount. Small businesses may have never conducted collections or found it was too time-consuming to pursue, and larger organizations may not have the technology to conduct debt collection efficiently. But at what point […]
Top Red Flags that Signal an Upcoming Debt Collection Issue
Failing to pursue past-due accounts until the 90-day mark is one red flag that a storm is brewing for your company. We know that the U.S. has a rising debt problem across most major industries. The Federal Reserve Bank of New York just issued their Quarterly Report on Household Debt and Credit. They found total household debt increased […]
How to Improve Your Accounts Receivable Management in 2019
Is your accounting or collections team providing ROI on A/R? Is your business prepared for all that this New Year brings? Are you confident that operations will improve or are you worried that rigor and efficiency are declining? Sometimes what’s missing is an external resource to help tune-up and optimize current operational protocols. Take accounts […]
How a Collection Agency Can Improve Your Healthcare Organization’s Bottom Line
Hospitals struggle with past due A/R. Healthcare has a problem. The costs of care are skyrocketing, reimbursement continues to decline, and a recent report says more consumers are enrolling in high-deductible health insurance policies than ever before. The impact on the bottom line of the healthcare industry is troubling; Becker’s reported in 2018 that: Operating expenses are growing […]
Top Four Factors Impacting SMEs in 2019
2019 looks to be another volatile year for SMEs. The small to medium enterprise (SME) always has a plethora of factors impacting the bottom line. Certainly, the economy heavily impacts these organizations, just like their larger counterparts, but when consumer debt rises, SMEs have tighter margins to weather past due A/R. Too, SMEs are uniquely vulnerable to […]
The Top Factors Impacting the Financial Industry in 2019
Financial services firms look to 2019 and technology innovation. As we near the end of 2018, it’s appropriate to take a look back at the wild ride we’ve had in the financial sector. 2018 was a time of great change, driven in part by technologies like artificial intelligence (AI), machine-learning automation, and market challenges such […]
How a Proactive Approach to Debt Recovery Helps Your Business
How can a company pursue debt collection proactively? Here’s the truth: pursuing debt collection early mitigates the non-payment risk. That’s because the longer you put off pursuing past due A/R, the less likelihood of collecting on the debt. It’s a simple exponential curve, which makes pursuing proactive debt recovery imperative for any business. But what predictors […]
How Patient Satisfaction Impacts Revenue for Healthcare Organizations
Under value-based reimbursement, patient satisfaction scores impact account receivables. In 2018, keeping a patient happy with the service your healthcare organization provides matters more than ever before. That’s not just because healthcare has grown to become a service-driven commodity just like any other business. Today, the move to value-based care means that reimbursement will be […]
New Report Offers Valuable Insight into Student Loan Defaults
Over 250,000 student loans go to debt collection every quarter. The Urban Institute points out the numbers, which are staggering: 250,000 federal student loans go into default every quarter. Up to another 30,000 people default on their rehabilitated federal student loan payments. Going to school and seeking a better life shouldn’t be this hard, but the […]
Top 6 Factors Impacting Healthcare Finance in 2019
The cost of care in the US is on the rise. PWC isn’t mincing words this year. The organization published its annual predictions on the costs associated with the business of healthcare. They state, “Heading into 2019, medical cost trend remains stable yet unsustainably high as healthcare costs continue to rise.” This article shares some of the top […]
