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Letās Be Honest About Debt Collection
One of the most complained about industries in the United States is debt collections according to the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB). No one wants to be called by a debt collector, even if thereās a legitimate reason for the call. The nature of the situation is bound to
Facing Facts: Adapting to Patient Consumerism with Debt Collection Help
Given the rise of patient consumerism, being a physician or member of a practice now means you are split between two roles. The primary role involves what one traditionally thinks about when they think of a doctor, patient care. You encourage, preserve, and restore the health of your patients. But in recent years, you have
Are You Ready for a 501(r) Checkup?
Nonprofit hospitals with tax exemption status have struggled to ensure compliance with 501(r) regulations ever since the final rules were released at the end of 2014 by the Internal Revenue Service. A recent inquiry into whether these hospitals meet the requirement of the 501(r) raises questions about what goes into 501(r) compliance, and how a
Effects of Wayfair Starting to Show
Last year, we discussed the possible effects that a United States Supreme Court ruling in the case of South Dakota v. Wayfair would have on state coffers. The ruling last June means that states are now able to collect sales tax on purchases their citizens make from online retailers, even if those retailers donāt have
Bridge the gap: A dentist’s guide to helping patients accept treatment
Sometimes, patients choose to put off or opt out of dental care. Certainly, a root canal or new crown is no oneās idea of a fun-filled day. But something else is standing in their way: the price tag. This guide can help you lead the conversation to help patients understand the value of dental care,
Go after bad debts without ruining the good vibes
Reminding your customers to pay their bills is the right thing to do, but it can be an awkward task. Bungle the message, and itāsĀ sure to damage the relationship. Still, in any relationship, setting expectations of the other person is always the healthy thing to do. For you, that means setting the expectation that the
Loose Change Adds Up for Charity
Thereās untold value in loose change. You could have a small treasure hiding between your couch cushions or in your junk drawer. Although many of us no longer carry cash or coin, there always seems to be some coinage lying around that goes unnoticed. Now imagine if everyone in your office pooled together their loose
5 financial mistakes new dentists should avoid
Dentistry offers a rewarding career, one that comes with the satisfaction of helping others, along with the financial benefits. Even so, these five financial mistakes can derail your practice and your profits. Coasting on student loan payments:Ā TheĀ median dental school debtĀ for graduates in the class of 2018 was $280,410. But according to theĀ Bureau of Labor Statistics,
Collection agencies, the FDCPA, and you: Safeguarding customer info
One thing business owners think about is protecting consumer information. When itās time to turn late accounts over to a third-party debt collector, you may be wondering what happens to that information and what they do to keep it safe. The short answer: Go in with high expectations. Because a reputable, quality collection agency may
Excessive Fines and Fees a Thing of the Past for Local Governments
State and local governments can no longer impose excessive fees and fines after a Supreme Court ruling on Wednesday, February 20. The unanimous decision reinforces the Eighth Amendment to the United States Constitution that āExcessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.ā Fees and fines of this
