As credit and collection managers, risk management leaders and finance professionals prepare for the 2018 tax filing season, U.S. consumers will begin to contemplate individual tax return spending options. The National Retail Federation (NRF) 2017 Annual Tax Returns Survey found that of the 66 percent of consumers who expect a tax refund, 35.5 percent plan…
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Revenue cycle management relies on key performance indicators to monitor the day-to-day operations of healthcare organizations wishing to remain profitable and offer the finest patient care. These metrics represent the mathematical tools that allow administrators to gauge revenue cycle efficiency and make real-time adjustments to strategies that benefit institutions and patients alike. The numbers also…
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If you’re reading this article, then there is a good chance your company is already working with one debt collection agency or more. Furthermore, you already know which contractors excel in specific areas and which ones are simply treading water. Selecting a new collection agency entails a thorough review of essential focus areas. The good…
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The Healthcare Financial Management Association (HFMA) has added a new certification to its selection of education programs, the Certified Revenue Cycle Representative (CRCR). CRCR certification helps set performance standards for individuals working in revenue cycle management and verifies that a specific level of knowledge and expertise has been reached. Individuals holding this certification are promised…
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The reality of unpaid debt is often much worse than it sounds since the fallout on company sustainability can eventually morph into an uncontrolled tailspin. Debtors rarely consider the macro effect of their unpaid balances on company ledgers because each delinquent account represents a small fraction of the whole. When long-term consequences are considered, however,…
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The Quarterly Report on Household Debt and Credit, a third quarter report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, frames a disconcerting portrait of Americans who are seriously delinquent. The study was released November 14, citing increases in mortgage, student, auto and credit card debt (increasing by 0.6%, 1.0%, 1.9%…
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