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Recover Revenue on Healthcare Balances Under $500
Regulations for credit reporting healthcare accounts have changed in recent years. Credit reporting is no longer allowed for a full year after your healthcare accounts becomes delinquent, and accounts under $500 are no longer reportable. But there are a few common misconceptions about the new regulations: â You canât place your healthcare accounts under $500 in
2023: A Year of Impact and Innovation
As we bid farewell to another transformative year, IC System is taking a moment to reflect on the exciting journey that was 2023. From earning notable distinctions to making a positive impact through charitable events, it has been a year filled with success, innovation, and meaningful contributions. 1. Company Distinctions For the seventh consecutive year,
Solving the Unique AR Challenges of For-Profit Colleges
For-profit colleges face unique challenges in managing their accounts receivables, which are crucial to their financial health. This blog details some of the AR challenges of for-profit educational institutions and offers potential debt collection solutions for for-profit colleges looking to improve their recoveries. Unlike traditional colleges, for-profits typically cater to a student population that is
Maintaining Employee Engagement in the Era of Remote Work
In the age of remote work, sustaining high employee engagement is no small challenge. The once bustling office environment has been replaced by isolated home office spaces, making it increasingly difficult to foster a sense of interconnectedness and collaboration. Understanding the tangible impact of these challenges, IC System has introduced several strategies to cultivate a
IC System Becomes DebtNextâs First Accredited Partner
IC System is proud to announce that DebtNext has made our company the inaugural member of its dPlat Partner Accreditation Program. As the first accredited company under the new program, IC System is a trusted partner for creditors looking to select a collection agency and integrate their past-due inventory using DebtNext’s comprehensive recovery management platform. DebtNext Software
Overcoming Staff Shortages in Healthcare
Dental and healthcare offices currently face staff shortages that significantly impact how providers address their AR inventories. The shortages affect many positions, from dental assistants to front office staff and nurses, who scramble to meet high demands with fewer resources. They also impact the back office staff, who must contend with billing matters. As a
The Disadvantages of Debt Collection, and Its Necessity for Businesses
Debt collection can be a necessary evil for businesses. When customers fail to pay their bills on time, it can significantly impact a business’ cash flow and profitability. Many businesses turn to a third-party accounts receivable management company to resolve the issue. However, there are also some risks associated with debt collection that businesses should
Star Tribune Names IC System a 2023 Top 200 Workplace
IC System has been named one of the Top 200 Workplaces in Minnesota by the Star Tribune. The 2023 distinction marks the seventh year in a row that IC System has been a Top Workplace. A complete list of those selected is available at startribune.com and was also published in the Star Tribune Top Workplaces
Healthcare Collections Still Possible Under New Regulations
New regulations and restrictions concerning credit reporting and the placement of healthcare debt with collection agencies have prompted some providers to stop placing debt with their agencies, especially accounts under $500. The response has led to a decrease in the revenue providers would usually receive from unresolved bad debt sent to their collection partners. Not
6 Things to Consider When Hiring a Debt Collector
If your business needs help collecting from past-due consumers, you probably have questions about what to look for when hiring a debt collector. But are you asking the right questions? Here are some questions to consider before you hire a debt collector to contact your delinquent accounts. What collection services do they provide? For your
