Credit Management Company

FEBRUARY 8, 2022

Perhaps you need to consider working with a collection agency. Read on to learn how to hire a collection agency that will serve your best interest and protect your good reputation. Menacing threats and middle-of-the-night phone calls are not the methods top debt collection agencies use. Evaluate Their Customer Service.

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Credit Management Company

OCTOBER 27, 2022

In November 2021, the new Consumer Finance Protection Bureau (CFPB) Debt Collection Rule went into effect. The act protects patients and makes it illegal for debt collectors to threaten consumers when trying to collect on medical accounts. Contact us today for more information about our collection management programs.

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Credit Management Company

MAY 17, 2022

According to a 2022 Consumer Financial Protection Bureau report, 58% of all third-party debt collection is made up of medical debt. Maintaining best practices for resolving accounts can lead to a positive and supportive experience for consumers, and effective management of debt accounts for healthcare providers.

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Credit Management Company

MARCH 23, 2021

More and more healthcare professionals are wrestling with this decision and many other questions regarding outsourcing their revenue cycle management. As healthcare organizations look to a post-pandemic world, the ability to enhance cash flow grows in importance. Do They Have Healthcare Experience? Statistics from 2020.

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Credit Management Company

FEBRUARY 22, 2022

Therefore, many people find themselves encountering collection agencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts. When people believe these myths about using a collection agency, they often run into trouble. How do you mitigate this?

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Credit Management Company

FEBRUARY 23, 2021

Even before the pandemic hit, healthcare providers have known the importance of being respectful when contacting patients about outstanding bills. Now, there are additional steps you must add to your debt collection practices. Now, there are additional steps you must add to your debt collection practices.

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Credit Management Company

DECEMBER 20, 2018

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. Timing is Everything.

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Credit Management Company

MARCH 8, 2022

Are you worried that if you refer your customers to a debt collection agency you’ll lose control of your brand? Here are the best steps to follow when looking for a collection agency to work with, from evaluating whether it’s the right move, to seeking quality referrals. Be sure you document all your attempts to collect the debt.

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Credit Management Company

JUNE 14, 2022

Debt collection can be a complex process, and consumer rights should always be a top priority. To ensure you understand how important consumer rights are, we’ve put together an overview of consumer rights in debt collection. These rules add a layer of debt collection protection for consumers at a federal level. Communication.

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Credit Management Company

FEBRUARY 19, 2019

Successfully collecting past-due accounts is a large source of revenue for organizations. For healthcare companies in particular, collecting from patients accounts for 88% more revenue than it did in the past. Improving collections, however, can require a significant amount of effort, persistence, and resources.

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Credit Management Company

APRIL 20, 2021

How quickly healthcare organizations see a healthy bottom line depends on several things. A new report from KaufmanHall released in Feb 2021 outlines three factors that are important to consider to understand the financial health of a healthcare organization. Improving Revenue Cycle Management.

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UK debt collections

NOVEMBER 3, 2021

The Healthcare sector was revealed as the sector that spent most time chasing debts. In the Technology sector, exactly half spend half of their time or more on business debt collection. Most Business owners do not start their companies with the intentions of ever needing to have to perform debt collection to get customers to pay.

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Credit Management Company

FEBRUARY 9, 2021

Everything—how children learn, how many of us are performing our jobs and how we can receive healthcare—has to some degree, moved online. This proposed legislation also looks at ways to expand the use of technology in healthcare. Contact Us For Your Debt Collection Needs.

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Credit Management Company

JUNE 4, 2019

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. Types of Businesses that Benefit from Debt Collection. Return on Investment.

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Credit Management Company

JANUARY 12, 2021

According to RevCycleIntelligence , research has shown that less than 20% of healthcare organizations have automated over 25% of their revenue cycle processes. With COVID-19 putting a dent into all our thought out plans and goals, you might think the best approach for accounts receivable would be to try to collect the largest debts.

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Credit Management Company

SEPTEMBER 23, 2021

The data that was collected focused primarily on health issues. The amount of data that’s collected in every industry—including healthcare—keeps growing. It’s estimated in 2013 there were about 153 exabytes of healthcare data generated that year and the number was projected to reach 2,314 exabytes in 2020.

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Credit Management Company

JUNE 15, 2021

Predictive Analytics in Healthcare. Here are two examples of how this is being used on the patient-side of healthcare. Thanks to predictive analytics, a charity score can be generated, that can then be used to write-off an amount before it would be sent to bad debt, and go through the costly collection process.

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Credit Management Company

MAY 4, 2021

With 55 years of experience, Credit Management Company knows that the design of a bill can result in faster payments by patients. While someone inside a healthcare organization may know the meaning of billing codes, the average person does not. Or they cannot afford to pay the entire bill and don’t know what to do.

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Credit Management Company

JANUARY 10, 2019

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. While collecting insurance claims does come with its own set of problems, obtaining money from individuals is much more difficult. The Root of the Problem.

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Credit Management Company

AUGUST 7, 2019

While collecting medical debt is not a scam, many collectors are unaware that they behave in a way that's similar to scams. This improves the success of collections we are able to receive for our clients. When a person can connect a collection action with a real-life event, they will feel more responsible for paying.

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Credit Management Company

JUNE 2, 2021

That gives you a starting point to determine if a person agrees to receive information from their healthcare provider electronically. Every hospital has data on which patients opt-in for email messages for scheduling appointments and receiving test results. You should also know which patients use your self-service portal.

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Better Credit Blog

APRIL 5, 2022

A collection account will lower your credit score and can generally stay on your credit report for up to seven years. Often, a collection entry will even keep you from getting a mortgage or securing an auto loan, which is why it’s important to do all you can to remove collections from your credit report quickly.

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Credit Management Company

JULY 26, 2022

That’s on top of the increasing healthcare insurance premiums that Americans are paying, which rose 37% from 2015 to 2020. For healthcare organizations, this comes as no surprise, and it’s adding to the headache of trying to provide high-quality care that prioritizes patient well-being while also turning a profit.

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CICM

JULY 17, 2023

a global provider of a comprehensive cloud-based call centre platform for enterprises, contact centres, BPOs, and collection agencies, has released the results of its third annual “Consumer Insights about Customer Service” survey. George, Utah, USA – June 28, 2023 TCN, Inc., This satisfaction level is up from 59% in 2022.

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Credit Management Company

DECEMBER 29, 2020

Or, perhaps pass new legislation around debt collection? Whether you handle debt collection internally or outsource this to a vendor, you need to stay up-to-date on pending legislative changes. How does this affect debt collection? When more people have access to affordable healthcare, the amount of outstanding debt decreases.

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Credit Management Company

MARCH 11, 2021

Most people use the terms interchangeably to mean a patient in one location and a healthcare provider in another location. The advantages of telemedicine for both patients and healthcare providers include: Reduced cost of care. Contact Us For Your Debt Collection Needs. Benefits of Telemedicine.

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Credit Management Company

JANUARY 26, 2021

Some of his proposals—like providing hospitals with more personal protective equipment—will directly help healthcare organizations. Two of the ways his plan would expand healthcare insurance include increasing tax subsidies for health plans purchased on the Affordable Care Act and lowering the age for Medicare eligibility from 65 to 60.

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