Account Recovery

JUNE 29, 2023

The Department of Health and Human Services’ Office of Civil Rights has fined a revenue cycle management company $75,000 for a data breach that compromised the personal information of 267 individuals. Back in 2017, iHealth […]

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Healthcare 130

Account Recovery

MAY 24, 2023

The Attorney General of New York has settled an enforcement action against a revenue cycle management company that will see the company pay $550,000 in fines and penalties after it was accused of failing to protect the personal information of individuals that lead to a ransomware cyberattack which affected more than 1.2

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Account Recovery

MAY 17, 2023

The Department of Health and Human Services’s Office for Civil Rights yesterday announced a $350,000 settlement with a revenue cycle management company that suffered a data breach back in 2018 and was accused of potentially violating the Health Insurance Portability and Accountability Act (HIPAA).

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Healthcare 130

Account Recovery

MARCH 23, 2021

CORAL SPRINGS, FLORIDA, March 22, 2021—Meduit, one of the 10 largest healthcare revenue cycle management (RCM) solutions companies, has consolidated customer communications management (CCM), digital delivery and print/mail services with Nordis Technologies.

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Account Recovery

MAY 8, 2023

Rohit Chopra, the director of the Consumer Financial Protection Bureau, reiterated last week that the Bureau is looking for “ways we can reduce the stress of medical debt and coercive credit reporting,” during a speech to revenue cycle managers at an industry conference.

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Healthcare Collections 130

Account Recovery

SEPTEMBER 23, 2020

Only one out of four revenue cycle management companies are not planning on making any permanent changes to their operations as a result of the coronavirus pandemic, according to the results of a survey that were released this month.

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Healthcare 246

Nexa Collect

JUNE 27, 2023

Predictive Analytics for Denial Management : AI can analyze historical data to predict which claims are likely to be denied by insurance companies. This allows hospitals to make necessary corrections before submitting claims, reducing the number of denials and accelerating revenue cycles.

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Healthcare 100

Nexa Collect

AUGUST 17, 2020

Revenue cycle management in healthcare is a critical discipline. Certified revenue cycle representatives (CRCRs) are revenue professionals with specialized credentials that ensure they have the knowledge, skills, and attitude needed for success in modern healthcare. Revenue cycle KPMs.

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Account Recovery

AUGUST 17, 2020

R1 RCM, one of the nation’s largest revenue cycle management companies, has acknowledged it has taken down part of its systems in response to a ransomware attack, which began more than a week ago, according to a published report.

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Account Recovery

OCTOBER 2, 2020

More than 150 chief financial officers and revenue cycle managers from healthcare providers were asked about how they will be … The post Healthcare Providers Bracing for Spike in Self-Paying Patients appeared first on AccountsRecovery.net.

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Healthcare Collection Agencies Collections Agency Collections 195

Account Recovery

SEPTEMBER 4, 2020

… The post COVID Causing Problems For Healthcare Providers, RCMs appeared first on AccountsRecovery.net.

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Healthcare Collections 147

Credit Management Company

APRIL 20, 2021

As we slowly return to some sense of normalcy, however, you might be wondering about the outlook for your organization’s revenue this year. We’ll also provide some strategies you might want to use to improve your revenue cycle. If that happens, hospitals and health systems could face a $53 billion total revenue loss in 2021.

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Credit Management Company

JANUARY 12, 2021

So, how can you brace your revenue cycle in preparation for the new year, and another potential COVID surge? Set Your Revenue Cycle up for Success from the Get-Go: Automate, Automate, Automate. Consider automating in phases, and evaluating where your revenue cycle needs the most help.

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Healthcare Credit Management Collections 52

PDC Flow

APRIL 13, 2021

This has made patient engagement essential to the billing cycle to ensure medical bills don’t become seriously delinquent. Offering faster checkout will encourage more payments completed earlier in the revenue cycle. Use opt-out reports and other tools to manage preferences and preference tracking. ABOUT THE AUTHOR -.

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Healthcare Education Collections 84

Debt Collection Answers

MAY 18, 2023

What is Receivable Management Partners, LLC? Receivable Management Partners, LLC, RMP Services is a debt collection agency in Greensburg, Indiana. Contact Details Address: Receivables Management Partners, LLC (RMP Services) 8085 Knue RD, Indianapolis, IN 46250, United States.

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Healthcare Collection Agencies Collections Agency Collections 52

True Accord

JULY 8, 2021

In this post, we’ll explore how AI and machine learning can supercharge the healthcare revenue cycle by catering to consumer preferences, turning billing and collections into a seamless, efficient experience for both patients and providers. But first: why is it necessary—and even urgent—to improve healthcare revenue management?

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Healthcare Collections Retail Banks 89

PDC Flow

JANUARY 31, 2023

Card Verify Benefits Companies with too many failed credit card payments lose out on revenue and waste staff time contacting customers for alternative card numbers. This is especially true when managing recurring payment schedules in your payment processing software.

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Manufacturing Collections 84

PDC Flow

MARCH 9, 2021

It helps medical facilities shorten the revenue cycle and settle accounts as quickly as possible. Managing administrative staff and chasing down payments can be a big job for a hospital system or other healthcare practice. This is why many turn to debt recovery professionals to help manage the revenue cycle.

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Collections Healthcare Collection Agencies Collections Agency 78

Credit Management Company

JULY 28, 2021

Perhaps you already registered for the 6th Annual Health IT & Revenue Cycle Conference this September. Contact Us For Your Revenue Cycle Management Needs. To learn more about Credit Management Company and how we can help you improve your revenue cycle, contact us.

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Healthcare Credit Management Education 52

Nexa Collect

FEBRUARY 13, 2021

Inventory management is another essential part of controlling the company’s working capital. This allows you to manage your working capital better by spending only the money you need to pay out right now and saving the rest until you gain more income. The Problem: Delaying Customer Payments. The Solution: Start a Rainy Day Fund.

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Credit Management Company

SEPTEMBER 23, 2021

Did you know existing data can also play a role in improving revenue cycle management? Our Third Party Accounts Receivable Management service uses several techniques to help you obtain payments from patients. When possible, we work with a hospital to see their analytics and discover a patient’s preferences.

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Healthcare Accounts Receivables Management Collections 52

NCBA Law Practice Management Blog

JUNE 22, 2021

Lawyers look for revenue in all types of places. O ne place you can find lost revenue is by focusing on your current clients. O ne place you can find lost revenue is by focusing on your current clients. If you need assistance with building out process management in your law firm, we can help! That’s pretty simple math.

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PDC Flow

JANUARY 24, 2023

They discussed how digital operations impact team structures and revenue, measuring ROI and more. But there are some best practices for who should be involved in decision making and project management across every organization. Digital collectors on the front line manage chat conversations, email or SMS – anything not over the phone.

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Nexa Collect

AUGUST 30, 2020

Predictive analysis can help monitor and manage outstanding receivables, and post-collection data will identify the most effective payment recovery methods. Cash-to-cash cycle time (CCC) is the period of time between when your business pays your suppliers and when you receive payments from your customers.

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On Guard

MAY 31, 2023

In the context of credit management software, an API might be used to allow the software to communicate with other financial systems or databases. For example, the credit management software might use an API to retrieve information about a customer’s credit history or to update a customer’s account balance.

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On Guard

FEBRUARY 23, 2023

In today’s business landscape, your cash conversion cycle can make a big difference between the success or failure of your company. Management by spreadsheet will not help you here. CFOs and CEOs, are you familiar with DSO? If not, you really should be. There are many ways to calculate DSO, here are 7 of them!

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Credit Management Collections 40

Nexa Collect

SEPTEMBER 12, 2020

Why is managing third party relationships important? Because reliance on others has many benefits: delegation, additional revenue, innovation and invention, collaboration, risk sharing, B2B reciprocity marketing, and more. What are the best ways to manage third party relationships?

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Lawyers 130

Collection Industry News

AUGUST 18, 2020

Chicago-based R1 RCM brought in revenues of $1.18 For example, in an attack targeting a hospital, the phishing email was made to look like it came from a hospital IT manager, with the malicious files disguised as patient reports. Formerly known as Accretive Health Inc. billion in 2019.

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Healthcare Collections Collection Companies 40

Payment Savvy

DECEMBER 23, 2020

Therefore, it becomes crucial for businesses to provide several payment options for customers to attract new clients and further revenue. Having an online presence is crucial since many people depend on the internet for shopping, managing accounts, and paying bills. Increased Revenue.

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Retail Banks 52

Credit Management Company

AUGUST 25, 2021

While all 50 statistics are insightful, three stand out: Brands with superior customer experience bring in 5-7 times more revenue than competitors that lag in customer experience. To learn more about Credit Management Company and how our customer service team can help you improve your revenue cycle, contact us.

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Collections Credit Management 52

PDC Flow

SEPTEMBER 14, 2021

Eliminating the time for mail to be sent, received and returned shortens your revenue cycle and facilitates faster bill payment for your consumers. Using email to collect payments can boost revenue and customer satisfaction but mishandling those who opt-in and those who decline, is essential to success. Preferred by Consumers.

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Collections Healthcare Banks 79

On Guard

JANUARY 5, 2023

In the context of credit management software, an API might be used to allow the software to communicate with other financial systems or databases. For example, the credit management software might use an API to retrieve information about a customer’s credit history or to update a customer’s account balance.

Retrieval 52

Retrieval Credit Management Financial services Debtor 52

Re:Ceeve

JUNE 5, 2020

Businesses are often masters at building acquisition and customer management strategies, but are yet to grasp the importance of applying the same approach in debt collections and its significance on maximising the lifetime value (LTV) of every customer. Customer-centric collections is different from regular debt management processes.

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PDC Flow

NOVEMBER 23, 2021

This effective communication strategy prevents uncomfortable misunderstandings with customers throughout their billing cycle. 5) Boosts Revenue Through One-Time Campaigns If you haven’t addressed late payments in the past, it’s time to clean up your accounts. A boost to your revenue after a one-time campaign is good.

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Collection Agencies Collections Agency Collections 69

PDC Flow

FEBRUARY 16, 2021

If your business is interested in pursuing this type of accounts receivable management, here are some EBO basics and five common reasons that cause past due payment collections to fail. EBOs are especially useful for healthcare organizations because insurance and other revenue cycle concerns can be a strain on their administrative staff.

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Collections Accounts Receivables Management Healthcare 61

Fico Collections

FEBRUARY 9, 2023

I’m curious as to how they balance their goals of delivering growth while managing the headache of rising interest rates, inflation and tightening budgets. Finding the optimal balance between providing a great customer experience and managing the cost-to-serve has also proved tricky.

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Re:Ceeve

JUNE 2, 2020

Across Europe, consumers are struggling to keep up with payments and businesses are facing insolvency issues due to inevitable declines in revenue and delayed payment. You can automate revenue processes. An automated revenue recovery process helps you minimise revenue lost to failed transactions and bad debt.

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