The vital role played by debt collection agencies in expediting accounts receivable is common knowledge to most business people, but very few understand the client onboarding process or the complexities needed to make a new collection campaign go live. Directed by agencies, the implementation of a successful collection program is the result of a cooperative…
Selecting the right debt collection agency requires a thorough review of top firms. To save businesses valuable time, Optio Solutions has assembled an all-inclusive checklist covering nine key considerations. The first four categories of the checklist displayed below cover the areas of compliance, certification, security and technology. The second part will detail quantitative analysis, qualitative…
Despite the growing optimism among U.S. consumers about the economy and their personal finances, the rising debt from unpaid student loans, auto loans and credit card balances over the last 18 months should be disconcerting to all financial institutions, including community banks and credit unions. Thus, the importance of maintaining judicious loan practices and effective…
The perfect storm of circumstances is challenging energy industry accounts receivable as the result of nationwide trends, some as old as a decade. These developments are fueled by the one-two punch of a demanding industry landscape and increasing consumer debt that is reducing revenue. The latter is especially disconcerting because consumers are triaging their debt…
CRS 2018, a conference for the collection and recovery industries, was the center of attention for senior level creditors involved in collection, recovery operations and strategy on May 9 – 11, 2018 at the Four Seasons Hotel Las Vegas. The trade event featured workshops, keynotes, concurrent seminar sessions, round-table discussions, networking opportunities and an expo…
Hospitals and private practices have been slow to implement a smooth transition to value based healthcare despite having over eight years to plan and execute a successful strategy (the concept became law with the passage of the Affordable Care Act in March 2010). The ACA is a massive piece of legislation addressing so much more…
The National Association of Credit Managers presents the 122nd edition of the NACM Credit Congress & Expo June 10 – 13 at the Phoenix Convention Center. The annual event offers concurrent educational sessions, certificate examinations and a tradeshow for professionals involved with credit management, finance, technology, collections and more.
Effective medical collections procedures are essential in maintaining a thriving and profitable medical practice. To assist U.S. medical professionals and healthcare organizations, the American Medical Association (AMA) provides an extensive archive of practice management resources focused on the billing and collections process. The association’s website offers both open-access and member-only content. The Practice Management tab…
The CRS 2018 conference (aka Collection and Recovery Solutions 2018) takes place May 9 – 11 at the Four Seasons Hotel Las Vegas and will feature workshops, keynote addresses, educational sessions, round-table discussions, networking opportunities and a tradeshow. Attendees include senior level creditors involved in collections, recovery operations and strategy from organizations such as collection…
ACA International estimates that there are 4,190 debt collection agencies in the U.S. as of November 2017. Ranging in size, specialties and resources, selecting the right debt collection agency can prove to be a daunting task. Companies signed with one or more agencies recognize the value of top performers along with the costs of hiring…