The Secret Sauce to Success in Property Management
The property market will continue to be volatile in 2019. The ups and downs of the real estate market could make anyone shudder. Technology has added an interesting influx to the mix, and in both residential and commercial real estate, software has proven to be a big disruptor. Despite the swirling chaos in most markets […]
Government: Doing More with Less Has Consequences
Governments are increasingly cash-strapped. There is good news and bad news for government revenues in 2018. The Wall Street Journal reported that, while taxpayers are generally pleased with the reduction to their annual tax payment under the current administration, government revenues went down overall by seven percent in June. This includes a reduction in gross corporate and […]
Keeping up with A/R While Upgrading Your HIS
Maintaining A/R during a HIS conversion is very difficult without an external partner. Converting and migrating data from any legacy platform can be a nightmare. But in the complicated world of healthcare, the conversion can be even more difficult. Accounts receivables (A/R) is not something you can postpone while the conversion is happening, so how […]
Trust and the Collection Agency: Not an Oxymoron
Despite their reputation, today’s collection agency must approach the work in a way that reflects their client’s core values and integrity. You’ve heard the stories about collection agency staff that harass a past-due balance holder to the point where the agency receives a slap on the wrist from federal regulators. This is usually in the […]
Collections for Financial Institutions/Banks and Credit Unions
Banks are required to keep data safe. What happens when that trust is breached? Banking has always been about trust. Financial institutions are tasked with managing the assets of their stakeholders; those clients put their trust in the bank to handle their cash or investments. However, it can be a delicate situation when an account […]
2018 Debt Collection in the U.S. – Technology Changes Everything
Debt collection agencies must leverage technology to become more successful in improving consumer communications. In the Consumer Financial Protection Bureau’s June 2017 report, statistics showed that American consumers are vocal in their complaints about collection efforts. Debt collection complaints make up nearly one-half of the more than 1.2 million consumer complaints the agency receives every year. […]
Should CFOs Toss Time-Based Collections?
For many CFO’s, the answer to the question, “should I stop thinking of collections as time-based?” is simple: yes. If you and your collection agencies are still considering operating with time-based methodologies, you may be paying excessive fees to collection agencies and internal operations to collect on debtors with a high probability of paying. Conversely, […]
How Debt Collection Affects Revenue Cycle in Healthcare
Debt collection is a hot topic in healthcare revenue cycle circles. That’s because hospitals and physicians are facing higher costs, declining reimbursement, along with high-deductible insurance policies and patients that simply cannot afford to pay. This article looks at how debt collection best practices could improve the revenue cycle in healthcare. What are the issues […]
Making Accounts Receivable Management a Priority in 2018
C-suite executives are increasingly required to do more with less. Delinquency and default rates are on the increase in the financial services space. The healthcare industry is looking for ways to reduce bad debt and increase patient revenue. And those in the commercial space are faced with trying to decrease days sales outstanding (DSO) and […]
Conducting Accounts Receivables Management Audits in Healthcare – What You Need to Know
Healthcare revenue cycle will be increasingly important for cash-strapped providers this year. This past November, RevCycle Intelligence pointed out a fact that many financial leaders in hospitals have already recognized: They are cash-strapped, and need to make revenue cycle management a top priority this year. As an issue, revenue cycle is at the top, beating back population […]
