Everyone who works in any number of industries knows the positive impact technology has on increasing efficiency. There’s no reason to waste time doing redundant work, and, in some instances, computers are much faster at performing tasks—like compiling and analyzing data—than humans. Today, we have an abundance of data which can be used for a variety of purposes. Predictive analytics is one use of technology that’s improving life for clinicians, patients, and those working in revenue cycle management.   It makes sense to separate the work between what’s best done by technology and wh ..read more

Before smartphones, life had forced boundaries. An email was just accessed from a computer, only friends and family knew your cell phone number, and landline phones were the way you reached others. And, when a business needed to contact you, they sent a letter or called your home phone number.  That all changed in 2007 when the iPhone hit the market. Now, life is much more flexible.   Many people have given up landline phones and use cell phones for everything. You can check work and personal email accounts, scroll through social media, make purchases, watch movies, read books ..read more

  Imagine you come home late from work, toss the mail on a table, make dinner, eat and by then, forget about the mail. The next day, you see the pile of mail and open it. You are not surprised to see a bill from the hospital. After all, you remember that stressful night in the emergency room. But the statement is confusing. How much do I actually have to pay? You put it back on the table and tell yourself you will try to figure it out tomorrow.  Suddenly, two weeks go by.  You remember wanting to call and ask questions, so you find the phone number on the bill only to discover t ..read more

Budgets are tight for both patients and healthcare organizations.   For patients, pandemic-related job loss created financial instability. The latest figures released by the Bureau of Labor Statistics show the continued financial impact of the pandemic. As of the beginning of March 2021, the unemployment rate is at 6.2 percent and the number of unemployed individuals is at 10 million. This is still much higher than the pre-pandemic levels in February 2020 of 3.5 percent and 5.7 million, respectively.   However, even before the pandemic, some patients struggled with high-ded ..read more

Even before the pandemic hit, healthcare providers have known the importance of being respectful when contacting patients about outstanding bills. As a professional, you know better than to threaten or harass patients. If a person asks that you not call them at work, you honor that wish. Now, there are additional steps you must add to your debt collection practices.   Late last year, the Consumer Financial Protection Bureau (CFPB) announced the Final Rule that debt collectors must follow under the Fair Debt Collection Practices Act (FDCPA). The Final Rule was published on November 30 ..read more

According to industry research, nearly half of all cell phone calls in 2019 will be scam calls. As more Americans become aware of this problem, they become more likely to avoid any phone interaction involving money. For some debt collectors, this can be a big problem. While collecting medical debt is not a scam, many collectors are unaware that they behave in a way that's similar to scams. By avoiding some common scammer tactics and behaviors, our agents display their legitimacy and gain trust with the people they call. This  improves the success of collections we are able to receive for ..read more

Insufficient cash flow is a financial problem that all companies experience at one time or another. Everything from waste and inefficiency to poor sales and conversions can cause this problem, but the failure of clients or customers to pay what they owe is a unique issue with a clear and effective solution: professional debt collection. Lack of payment from products and services already delivered can make it very difficult to continue doing business, so it's the responsibility of debt collection agencies to increase the flow of revenue so that you can meet payroll and fulfill your other financ ..read more

In the United States, patients with health insurance are required to pay for a greater portion of their care out of pocket than they ever have in the past. Hospitals and doctor's offices have always been concerned about getting payment from the uninsured, but now that patients with employer coverage bare a greater financial burden, providers are feeling more like debt collectors. By spending time and resources on collections rather than care, providers fear they may fall behind when it comes to outcomes and overall patient satisfaction.  The Root of the Problem According to a report from ..read more

Patient collections can be a challenge any time of the year, but are particularly stressful during the Holiday season. Some collection agencies make the mistake of pausing collection efforts during this time of the year to avoid increasing tension between the healthcare provider and the patient. However, this approach can be extremely counter intuitive  - outstanding receivables affect the bottom lines of both the healthcare providers and the agency.  The keys to successful collections during this time of year call for increased flexibility, diplomacy and a few of the following tips ..read more

More people than ever before are using text messaging to communicate. According to research by Nielsen, Americans text twice as much as they call. Debt collection agencies are doing everything they can to take advantage of this trend, but they need to ensure their practices adhere to federal law in order to avoid penalties. Collectors can accomplish this by having the right terms and conditions. There are a few important factors collectors should consider when drafting their electronic service agreements.  FDCPA Requirements The Fair Debt Collection Practices Act (FDCPA) is designed to p ..read more