Blog
IC System’s Tamara Ward Earns Young Professional Certification
Helping the community is incredibly important to IC System, which is why we are proud to announce that Client Service Representative Tamara Ward has completed an extensive professional leadership initiative with the Northeast Metro Young Professionals Group (NMYP). The NMYP is a program developed by the Vadnais Heights Economic Development Corporation that seeks future leaders
Don’t sign a contract with a collection agency without asking these 4 questions
Choosing the right vendor for your organization can turn into a nerve-wracking experience, and it’s even harder to know what to look for in a collection agency. To make sure you’re choosing a collection partner that will bring an ethical and effective approach to your uncollectable accounts, the answers to these four questions can reveal
Patient consumerism: Why a patient-friendly billing and payment system matters
To boost your bottom line, it may pay to consider patient consumerism when dealing with your patients. Because when a patient schedules a visit for medical care, they’re not simply thinking about the quality of care. They’re thinking about the value they’re getting from the visit, even if they have medical insurance coverage. Here are
Government: Don’t Ignore Your Older Accounts Receivable
Most government offices have only a single-tier debt placement strategy with multiple primary agencies. However, after the initial collection period (about 180 days), collection agencies typically slow down their efforts due to the cost involved in pursuing less collectible, older government accounts. This natural decline in work effort means that, as accounts age, they become
Dental Accounts Receivable: How much will you get back from a collection agency?
If you’re looking at using a collection partner to recover bad debts from your dental patients, you might be thinking about what success looks like. A 100-percent recovery is ideal. But as you’ve probably surmised, that’s a best-case scenario. When you’re screening collection agencies for dental accounts receivable, an important question to ask is how much
Revenue cycle secrets for clinics and practices to reduce the number of A/R days
It would be an understatement to say our health insurance system has seen a seismic shift in the past decade. It makes revenue cycle management a challenge because patients, not insurance companies, are paying for a larger share of their medical visits. According to one study, a patient’s cost-sharing payments for medical care have outpaced
IC System Volunteers for Rotary Lights Winter Festival
More than 34 employees from IC System’s Wisconsin branch office volunteered to help gather donations and oversee the Rotary Light festival in La Crosse. Each night, a different business or group volunteers its time to the winter festival. Decked in IC System stocking hats and scarves, the volunteers gathered for three shifts on December 4
State Spending Hits Record High
In fiscal year 2018, the fifty US states collectively spent over $2 trillion, which is the first time that level has been reached. This is according to the latest State Expenditure Report from the National Association of State Budget Officers (NASBO). The spending was fueled in part by a boost in tax revenue triggered by
Collecting in-house vs. a collection agency: Does it make financial sense?
Focusing on past-due accounts is the most important component of accounts receivable management. In order to recover accounts receivable, the path to success is setting up a system where late-paying customers get reminders and those reminders are consistently administered. This alone may raise the question of whether your firm should keep the collection efforts in-house or
How customer segmentation can optimize your accounts receivable
If you’re looking for a way to optimize your accounts receivable, customer segmentation is one strategy you’ll want to adopt. The idea behind customer segmentation is using their past behavior to help you decide how to respond if they fail to pay you on time. Taking this strategic approach to accounts receivable management will help
