Customer Success Story
Enhancing Debt Collection Efficiency For A Federal Agency
The Challenge
- Diverse Debt Types: Managing a wide range of debt types for the federal agency, including HEAL Loans, Food & Drug Administration fees, and miscellaneous debts, posed a challenge in tailoring collection strategies for each debt category, allowing for focused attention and expertise in handling program-related debt.
- Effective Debt Collection: Efficiently recovering on 23 diverse debt types required a nuanced approach to address the unique characteristics and challenges associated with each type.
- Regulatory Compliance: Ensuring compliance with the regulatory landscape in debt collection while pursuing collections for a government agency is crucial to maintain legal and ethical standards.
The Approach
- Specialized Debt Recovery Unit: TSI established a specialized unit in Getzville, New York, dedicated to working on the program. This unit consists of nine Full-Time Equivalent (FTE) employees, allowing for focused attention and expertise in handling program-related debt.
- Tailored Collection Strategies: TSI designed customized collection strategies for each debt type handled, considering the unique nature and challenges associated with HEAL Loans, FDA fees, and miscellaneous debts. This approach aimed to optimize recovery and meet client-specific requirements.
The Results
- Active Account Management: TSI effectively manages 4,700 active accounts, ensuring consistent and timely efforts in debt collection across diverse debt types.
- Monthly Fee Generation: The average monthly fee generated stands at $20,000, highlighting TSI’s efficiency in revenue generation and debt recovery.
- Long-term Collaboration: The collaboration initiated in September 2007 has endured, signifying the success and value of TSI’s contributions to the debt collection program. The long-term partnership showcases the trust and effectiveness of the approach employed.
Conclusion
By tailoring debt recovery strategies to address diverse debt types, ensuring regulatory compliance, and maintaining a specialized team dedicated to the program, TSI has effectively contributed to the Agency’s mission of safeguarding health and providing essential services to the American population. This case study emphasizes the importance of a specialized and nuanced approach in debt collection, especially when dealing with a wide array of debt types for a government agency.
Customer Experience/Care Management
Inbound & Outbound Voice
CX & Care Programs
Back-Office Functions
Performance Analytics
Flexible Global Staffing
Business Process Outsourcing
Data Input
Document Processing
Verfication & Validation
Exception Processing
QA Monitoring & Reporting
Business Analytics & Modeling
First Party ARM
1st Party Collections
Pre-Charge Off Program Support
Inbound & Outbound
Early Stage / Care Based
Brand Protection
IT Adaptability / Flexibility
third Party Debt Collection
Post Charge-Off
Primary & Secondary
Late-Stage Recovery
Innovative Technology & Approach
Propensity to Pay Analytics
