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 Innovation is Simplifying Debt Collection
Next-gen debt collection is here and waiting for you. Even the toughest jobs benefit from having the right tools and debt collection is no exception to this rule. Today, next-generation debt collection is transforming how we pursue your past due receivables. This technology is transforming how we conduct debt collection, making the industry smarter, more […]
Better Debt Collection Means a Better Customer Experience — Here’s Why
Debt collection should enhance, not harm your brand image. The days of debt collection run amok are over. Certainly, federal compliance rules cracked down on overzealous and sometimes rude debt collection firms. However, it’s really been the internet that has changed what we consider best practices for the industry’s approach to A/R recovery. Today, one […]
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 […]
Consumer Debt Continues to Climb as 2018 Concludes
Consumer debt in the US is about to hit $4 trillion. Consumer debt continues to climb as 2018 comes to a close. Recent figures estimate that consumers will carry $4 trillion in debt by the end of the year. How will this affect consumers and the agencies that continue to offer them credit? How can […]
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 […]
