In July of 2018 I had the pleasure of being on the team representing Simon’s Agency at the HFMA 2018 Annual Conference in Las Vegas, Nevada. I have previously attended many trade shows and conferences throughout the years in various industries as a participant, presenter and exhibitor. The professionals I met at HFMA are the top tier across the board.
Turning Red to Black Blog: Discussing Topics Related to Revenue Cycle Management, Debt Collection, Debt Recovery, Debt Management, Billing Operations and Billing Procedures
We work with many clients throughout the country and every single one of them provides a valuable service to their own customers, patients, members, and clients. Many, in fact, provide an expert level of care in fact. Whether it’s the teamwork involved in prepping a patient, performing a surgery and caring for the patient during recovery or the coordination involved in securing a loan for a consumer to purchase their next vehicle or fund a home improvement, our clients provide their customers with a very high level of care. This is care they should expect to receive from their partners and vendors as well.
Through some of the toughest regulatory environment factors ever faced by third-party debt collectors, the industry is responsible for collecting approximately $78.5 billion in total debt in 2016 according to a study commissioned by ACA International all the while dealing with exceedingly fewer complaints.
Did you know that the most dangerous part of running a business is collecting bad debt? The minefield that we, as a collection agency, must navigate day in and day out applies to anyone collecting bad debt. So, when it comes down to the actual act of collections it’s more than fair to ask, “Who’s got your back?”
As we begin preparing for the festivities of the Thanksgiving Holiday and remembering the things we are thankful for this year, let’s not forget to also begin thinking about ways in which we can start preparing for the relief that many of your patients and customer will come into during tax season. You may be thinking that it’s way too early to start thinking about what happens in February, March and April but, in truth, the first recipients of tax returns will be getting them by mid-January while the peak for tax returns quickly follows in mid-February! That’s not a lot of time to prepare unless you start doing so now.