The Top 5 Financial Factors Impacting Educational Institutions in 2019
Educational institutions have many financial considerations that help them educate students. Finances are a major part of going to college for students, and many financial factors impact educational institutions as well. Economic forces can impact enrollments, endowments, and other aspects of a college or university’s financial position. Here are some of the top financial factors […]
Actionable Tips for Healthcare Providers on Reducing AR Days
Healthcare finance has always been complex, and it has only become more so in recent years. However, throughout all the adjustments made necessary by new payer models and other changes to how healthcare is delivered and paid for, the metric of Days in Accounts Receivable (DAR) has remained a top indicator of a healthcare provider’s […]
Does Your AR Department Have This Fortune 500 Policy? It Should!
Small and mid-sized businesses usually pride themselves on delivering personalized service to customers. People generally enjoy interacting with businesses that know their names and understand their needs. A small or mid-sized business may have a more accurate idea of which customers would like which new products or services, and they rely on long-term customer loyalty […]
Healthcare Debt Concerns are on the Rise
Healthcare continues to be a controversial topic. Between health insurance, co-pays, and flex cards, the benefits can become confusing for the consumer. Consumers are often surprised by medical bills and unable to pay them. According to Health Exec, more than 90% of healthcare consumers were surprised by a medical bill in 2018, while nearly three-quarters were […]
4 Ways the Right Debt Collection Partner Helps Your Team
When you’re running a small or mid-sized business, one of the demands on you, among many, is collecting payments you are owed. Sure, there may be someone on your team who might be able to manage this, or maybe everyone is responsible for working with their clients to collect debts. However, this can cause stress […]
6 Warning Signs of Financial Trouble for Your Small Business
Any entrepreneur knows there’s a chance that their business may not take succeed. Risk is inherent in any new business venture, of course. The Small Business Administration says that, while about 80% of small businesses make it through their first year, only 50% of small businesses make it past the five-year mark. Only one in three celebrate […]
Four Healthcare Debt Collection Stats You Need to Know
Healthcare debt collection is one of the most delicate of processes. Hospitals, medical practices, and ancillary service providers must tread lightly to maintain the doctor-patient relationship they’ve worked so hard to build. At the same time, most healthcare revenue cycle metrics cannot sustain an extensive volume of past due accounts receivable customers for very long. […]
The Debt Collection Letter 101
When you send the debt collection letter is just as important as what you say. One of the most powerful tools to use in debt collection services is the debt collection letter. This technique is also one of the most regulated in the industry, along with phone calls to the past due client. While establishing […]
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 […]
What Is End-to-End Debt Collection?
An end-to-end debt collection service helps companies maximize efficiencies to improve accounts receivables. While many companies employ a debt collection service to supplement an existing collections team in one area, in fact, an end-to-end outsourced team can help you throughout the process of debt collection. How does end-to-end debt collection service work and how can […]
