Blog
Utilities: Decrease accounts receivables and costly debt write-off
It’s a common scenario for a public utility company: Every few years, the governing body must hold its nose and vote to write off millions in uncollected debt. Of course, in many states, statutes of limitations force this unwanted step because after a debt reaches a certain age, it’s no longer legal to collect it. Despite best
Research shows it’s important to talk costs with patients
When patients seek medical care, good physicians have good outcomes in mind. When it comes to a serious illness like cancer, the goal is to raise the quality of life, even when the situation is very bleak. But there’s one major side effect of this high level of care that can diminish the good that
Multiple Indicators Point to Financial Slowdown for Cities
By many markers, the national economy is performing well as of late. Unemployment figures recently reached a 16-year low, and we have seen steady GDP growth since the 2007 recession. However, those numbers don’t tell the whole story. According to the latest edition of an annual survey from the National League of Cities, a few
Three Things to Know Before Publishing an RFP for Debt Collection Services
If you’re in charge of purchasing for your organization, then you’re no stranger to drafting RFPs. You might even have a tried-and-true RFP template that’s been blessed by your legal department and used for purchasing everything from construction projects to food service. But as you know, every industry has its own considerations. And unless your
Choosing a collection agency should be like hiring an employee
When you’re choosing a collection agency to take on your accounts receivable, sometimes the hardest part is finding the right fit. In some ways, it’s kind of like hiring a new employee for your team because they will be working on your behalf. What should this new employee be doing? Send letters Many don’t realize that
IC System Celebrates 10 Years in Onalaska, WI
IC System’s branch office in Onalaska, Wisconsin, recently celebrated its ten-year anniversary. The Chamber of Commerce in La Crosse supported the ribbon-cutting event. Tanner Kabat, the Branch Manager of the Onalaska office, cut the red ribbon on August 29, 2017. Several members of IC System’s executive team—including Executive Vice President and CFO Kurt Heinbigner, Director
How Collection Legislation Impacts Consumer Financial Health
Despite the significant impact of the debt collection industry on the economy as a whole, relatively little research exists as to the impact that state-level collection legislation has on consumer financial outcomes. Preliminary findings in a recent staff report from the Federal Reserve Bank of New York reveal “consistent evidence that restricting collection activities leads
Get Ready to Make a Collection Phone Call
It’s okay to admit it: You really hate making those collection phone calls when a customer hasn’t paid. The fact is, few of us are accustomed to talking about money. You know if the conversation isn’t handled right, you could make a bad situation worse and lose that customer forever. At the same time, the
Dentists: Prepare your patients now, avoid collections later
Remaking a billing system to boost same-day payments from patients can make sense for any dental practice. When patients walk out the door without making a payment or paying off their deductible or co-pay, the cost of collecting falls on your practice. On top of that, your patients come with a range of financial habits;
Providers: How to build trust with millennial patients
The millennial generation recently hit a milestone of being the largest generation in the U.S. Even though they’re young adults and have fewer healthcare needs than their parents and grandparents, it’s important for providers to understand the needs and challenges of millennial patients in order to win them over, build trust, and keep those payments
