Today Simon’s Agency, Inc. is launching a new feature to its communications in an effort to share some of the challenges that both our agency and our clients face as we head into 2020. As you may know the Consumer Financial Protection Bureau (CFPB) is preparing to roll out new regulations specific to debt collection this year which will set the rules for many years to come and should embrace new ways of communicating from texting to chat to email to communications channels that are only now being developed.
At the same time, the accounts receivable management industry is currently under tremendous pressure from litigious attorneys who are making life very difficult for agencies to the extent that they are and will continue to affect not only our bottom line but yours as well. The good news is that there are things that we can do together as partner organizations to not only improve the way we communicate with your patients and customers but ultimately give them more ways to communicate with us – ways in which they want to communicate!
We are calling this feature “From the Owner’s Corner” which will, from time to time offer a hot take on an issue that explains a challenge we are facing and the ways that we are working through it and ways that your organization can also work through it in order to excel with your revenue cycle and improve the impact on your bottom line. These are issues that will affect your organization directly and indirectly as they will affect your third-party partners in the way that they deliver their products and services to you.
Our goal is for Simon’s to continue to lead the industry by getting out in front of these issues so that we may continue to perform at an exceptional rate for our clients as we have for over fifty years. Any time you see the “Owner’s Corner” logo as it appears in the bottom right corner of the image above, you will know that what you are reading is a hot take on an issue that is important to your organization and its bottom line.
The first of these articles appears on our Applied Recovery Science blog and concerns a House bill that will amend the FDCPA with severe restrictions on the collection of medical debt.
We wish you all the best in this New Year as we continue to turn your RED to BLACK.