Tag: collection agency
Hospitals Can Teach Us Better Ways of Billing Patients
In the era of the high-deductible health plan, boosting payments can seem like a tall order for clinics as they’re billing patients. One way clinics and practices can help patients deal with the realities of their higher healthcare costs is to adapt and learn from the changes some hospitals have made to their billing systems.
State Rainy Day Funds Face Challenges
When people have to tap into their rainy day fund, it’s to account for surprise expenses. Sometimes we have to fix the furnace when it breaks down, pay for Junior’s field trip, or pay for a vet bill when the dog swallows a sock. Governments have rainy day funds for the same reasons, albeit on
Plan for Collections as a Last Resort
Most customers and clients do the right thing and offer payment for the goods and services they’ve received. Unfortunately, there are always some who put you off or fail to pay altogether. If your accounts receivables are getting too high, perhaps it’s time for a hard look at your financial system, and even plan for collections work on your
IC System Named a Top Workplace by the Star Tribune
IC System was named one of Minnesota’s top places to work by the Minneapolis Star Tribune! The Star Tribune made the 2017 Top Workplace announcement on June 21, having based their results on an employee feedback survey conducted by WorkplaceDynamics, an independent company that specializes in employee engagement and retention. Founded in 1938, IC System
A case for better price transparency at the doctor’s office
One possible path to boosting revenues and reducing accounts receivables borrows a page from an unlikely place: the price transparency found in plastic surgeon marketing. Because of the elective nature of plastic surgery, this resembles a competitive market. That is, these are medical professionals who deal with patients who have to pay out of pocket.
Use accounts receivable days as a measuring stick
There’s no greater asset to a business than accounts receivable days. Consider the dense weave of financial sources, from insurance payers to the federal government to individual patients. This is an asset that needs careful management or its value starts escaping, like the leak of a punctured balloon. For that reason, providers are drilling down
Learn about laws, taxes that can impact utility prices
Utility prices such as electricity and natural gas rates may vary across your state. This can be a source of frustration for your customers, especially if they are comparing rates between public and private utilities. According to an analysis by the New York Times, in 32 of 48 states, customers pay less for public utilities
Simple Tips to Manage Your Office’s Accounts Receivable
Collecting past-due bills from your consumers is a procedure that requires precise action with a sure and deft hand. At the same time, listening to the consumer is key to finding the solution. Each step of the accounts receivable process is an opportunity to help a consumer overcome an inability to pay in full. After
Modernize your utilities collections with these tips
Utilities have long been regarded as part of a traditional and steady industry that is pretty set in its ways. But that doesn’t mean billing can’t evolve. Retooling your billing strategies with better utilities collections practices can decrease past-due accounts while raising customer satisfaction. Here are a few tips: Collect and maintain accurate customer data: When customers sign up for service, collect their
