Healthcare Debt Collection Trends and Techniques
Don’t rely on old methodologies. We’ve seen so many changes in healthcare finance over the past decade, that most hospital CFOs confess to having battle fatigue. As if managing varying budgets, developing cost reduction initiatives, and developing and implementing financial processes to squeeze more juice out of the revenue cycle “turnip” weren’t enough, we also […]
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 […]
New Challenges in Hospital Self-Pay Collections
Hospitals and medical practice providers are facing a brave new world where the realities of high-deductible insurance or no insurance at all have yielded a higher group of self-pay patients. How can hospitals stay on top of accounts receivable management with a burgeoning population of people that are sick – but cannot pay? Debt collections […]
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 […]
Security Risks and Your Healthcare Organization: Driving Patient Satisfaction
Keeping data safe is one way a collection agency can protect the relationship between you and your patient. Federal law requires healthcare organizations to safeguard personal health information (PHI). As we discussed in our previous article around ransomware and insider threats, healthcare organizations may often struggle to keep data safe, and increasingly fall victim to […]
Security Risks and Your Healthcare Organization: From Ransomware to Insider Threats
Healthcare IT News quotes a recent Verizon report that spells out big cyber security threats for healthcare providers in the coming years. It turns out that the biggest threats are from inside hospitals themselves — an even bigger risk than external threats like ransomware. This article, part one in a two-part series, will look at cyber […]
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. […]
