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Blog

Uncovering the Hidden Costs of Debt Collection: Improving Processes

2017-08-24T13:47:21+00:00 April 13th, 2017|Blog|

We see it time and again in the world of debt collection: Workforce structure – the subject of our first blog post – is just as important as managing processes and procedures. And what’s more, for every obvious question, such as “What’s the best time to make calls?”, deeper questions follow. For example, “Which reports [...]

Uncovering the Hidden Costs of Debt Collection: Optimizing the Workforce

2017-08-24T13:47:21+00:00 April 6th, 2017|Blog|

There’s just no way around it. Chasing delinquent accounts is expensive. In addition to labor, overhead, and infrastructure there are hidden costs. Before you realize it, inefficiencies and wasteful practices are producing administrative delays, unpredictable cash flow, an ineffective staff, and low morale. But there’s good news! With a little investigation, organizations can spot the [...]

How ARM Professionals Can Succeed at Omnichannel

2017-08-24T13:47:21+00:00 March 30th, 2017|Blog|

If you’ve been reading our recent blog posts, then you probably already know about the many benefits that come with implementing an omnichannel collections strategy. But what you might not know is that designing and implementing an omnichannel program requires a road map to safeguard brand reputation and minimize compliance risk. Many organizations struggle with [...]

Omnichannel Benefits for Accounts Receivable Management

2017-08-24T13:47:21+00:00 March 22nd, 2017|Blog|

It’s the question almost every business asks. What’s the most effective way to reach customers in a competitive, technology-driven environment? People today are on the go, accessing information at all times through web, email, text, phone, and other pathways. That means reaching customers is all about understanding how they communicate and access information in an [...]

Maintaining Patient Relationships in RCM is as Important as Delivering Clinical Care

2017-08-09T16:18:17+00:00 February 23rd, 2017|Blog|

Today more than ever, providers are recognizing the importance of patient relationships beyond and after clinical care delivery. At the same time, an increasing number of patients receive coverage under high-deductible health plans, which intensifies the pressure on providers to collect patient pay amounts in a timely manner and in full. To further complicate matters, [...]

Could Your Outsourcing Mix Produce Better Results?

2017-08-24T13:47:21+00:00 February 15th, 2017|Blog|

You hold your ARM providers to high performance standards for the outsourced portion of your portfolio. Are you holding your in-house AR to the same standards? Take a fresh look at the performance of your AR team and consider their results against the rest of your portfolio. Which segments are paying off? Where’s the tipping [...]

Maintaining Customer Relationships in a Regulatory Environment

2017-08-24T13:47:22+00:00 February 2nd, 2017|Blog|

Thriving in an increasingly-regulated ARM industry is a balancing act that grows only more difficult with time. Each new law means new practices to follow, more training for staff, and additional processes to incorporate into your already carefully-planned collections strategy. But adhering to regulatory requirements doesn’t have to come at the expense of customer care. [...]

Reputation Management and CRM in a Connected World

2017-08-24T13:47:22+00:00 January 26th, 2017|Blog, News|

When it comes to managing accounts receivable, there are two absolutes for any business – maintain strong cash flow and stay in compliance with legal regulations. But what about the consumer experience? How a business treats its customers, regardless of their account status, goes a long way toward defining the business’ reputation. And, in today’s [...]

A Foundational Framework for ARM Success

2017-08-24T13:47:22+00:00 January 12th, 2017|Blog|

In a recent blog post we touched on the fact that psychosocial factors can influence borrowers. That discussion brings to mind a well-known psychological theory that gives us a way to think about accounts receivable management (ARM) strategies. Maslow’s hierarchy of needs posits a pyramid in which the fulfillment of an individual’s essential needs supports [...]