Transforming Denied Claims Management: The Power of Digital Innovation
In the complex world of managing denied claims, organizations face persistent challenges that thwart their operational efficiency and detract from client satisfaction. The age-old practice of manually processing claims is fraught with inefficiencies: excessive paperwork, unavoidable processing delays, and a high risk of errors. These challenges strain organizational resources and hinder the effective resolution and […]
How Technology is Disrupting the Collections Industry
The future is here for debt collection technology. Is technology a good or a bad thing? The answer is it depends on how you use it. In the field of debt collection, technology is being used to improve the consumer experience while helping industries work smarter and improve their bottom line. Here’s how the new […]
How to Minimize Accounts Receivable Days and Streamline Your Revenue Cycle
Healthcare providers have always been under scrutiny to do more with less. Over the past decade, reimbursement has continued to decline, and healthcare costs have risen. The Advisory Board reports hospital prices have gone up; inpatient care rose 42% from 2007 to 2014. For employers, healthcare costs have increased by 5% annually for the past six years. There […]
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 […]
Lost Revenue Does Not Have to Be ‘Business as Usual’ for Financial Institutions
The lending climate has changed for financial institutions. It might feel counterintuitive for a bank to write-off a bad debt. After all, it is these financial institutions that specialize in maintaining a portfolio of loans as assets toward their future revenue. If banks aren’t effectively practicing debt collection, what hope is there for the rest […]
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 […]
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 […]
