collection certifications

Three New ACA Intl Collection Certifications

ACA International, the Association of Credit and Collection Professionals, is rolling out three new collection certifications in 2018. Two of the certifications, Professional Collection Management and Collection Industry Professional, are detailed on the organization’s Education & Training page while the educational phase of Credit and Collection Compliance Attorney certification will debut at the ACA International…

rising consumer debt

2017 Survey Shows Rising Consumer Debt

A recent survey conducted by Experian revealed rising consumer debt, especially for auto, student and credit card debt. An article about the survey, “State of Credit: 2017,” was published January 11, 2018 and covered consumer spending and debt during 2017 using data from Experian’s eighth annual “State of Credit” survey. The piece opens with positive…

revenue cycle management

Tracking KPIs in Revenue Cycle Management: Pt 1

Revenue 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.

certified revenue cycle representative

Certified Revenue Cycle Representative Offered by HFMA

The 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…

unpaid debt

Unpaid Debt and its Cascading Effects

The reality of unpaid debt is often much worse than it sounds since the fallout on company sustainability can eventually morph into an uncontrolled tailspin. Debtors rarely consider the macro effect of their unpaid balances on company ledgers because each delinquent account represents a small fraction of the whole. When long-term consequences are considered, however,…

external collections

Internal vs External Collections, Pt 2: Mental Health

Building and maintaining internal collections operations while remaining compliant is no small task. Effective debt collections requires specialized training, personality traits, technology, security measures, expert leadership and compliance. In addition to the expected legal consequences, the potential fallout of inadequate planning, operations and compliance at internal collections departments weighs heavily on the mental health of…

external collections

Internal vs External Collections P1: Compliance Defiance

Using external collections to recover debt is a tried-and-proven method that can deliver extraordinary results. On the other hand, mounting internal campaigns to avoid paying contingency fees is tempting, but the high startup costs and complex compliance requirements generally outweigh the potential savings. Furthermore, just one compliance blunder may result in expensive litigation, regulatory fines, brand damage or all of the above.