As credit and collection managers, risk management leaders and finance professionals prepare for the 2018 tax filing season, U.S. consumers will begin to contemplate individual tax return spending options. The National Retail Federation (NRF) 2017 Annual Tax Returns Survey found that of the 66 percent of consumers who expect a tax refund, 35.5 percent plan…
DetailsRevenue cycle management relies on key performance indicators to monitor the day-to-day operations of healthcare organizations wishing to remain profitable and offer the finest patient care. These metrics represent the mathematical tools that allow administrators to gauge revenue cycle efficiency and make real-time adjustments to strategies that benefit institutions and patients alike. The numbers also form the basis of periodic scorecards and reports to all institutional stakeholders and are essential to holding departments accountable.
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If you’re reading this article, then there is a good chance your company is already working with one debt collection agency or more. Furthermore, you already know which contractors excel in specific areas and which ones are simply treading water. Selecting a new collection agency entails a thorough review of essential focus areas. The good…
DetailsThe Healthcare Financial Management Association (HFMA) has added a new certification to its selection of education programs, the Certified Revenue Cycle Representative (CRCR). CRCR certification helps set performance standards for individuals working in revenue cycle management and verifies that a specific level of knowledge and expertise has been reached. Individuals holding this certification are promised…
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With a mission to support members through education and advocacy, ACA International provides a multitude of resources for collection professionals through the organization’s 2018 schedule of events. ACA International presents specialized educational content for industry representatives of all position levels from small to large-scale operations serving healthcare, retail, financial services and more. To improve individual…
DetailsThe Medical Group Management Association (MGMA) released its first Digital Payment Progress Report earlier this year, providing U.S. healthcare finance managers with a detailed look at patient payment preferences and behavior. The report surveyed 761 MGMA member organization representatives at hospitals and ambulatory surgical centers — 61 percent in management, 28 percent in executive positions…
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