As is the case with most problems, the most effective way to prevent issues with debt collection is to nip them in the bud before they appear. However, failing this, the next best solution when it comes to B2B collections best practices is to spot the problem at an early stage and address it as quickly as possible. Business owners often hesitate to turn nonpaying clients over to collection agencies. However, if a debt goes uncollected for as long as seven months, the chances of receiving the mon... READ MORE 〉
While many credit unions consider changing their merchant account provider, confusion over how to go about it can delay them from making the switch. Hidden charges, high fees, lack of customer support, and processing difficulties are all reasons cited by credit unions for wanting to make a change in provider. But, they also worry about how to guarantee they are not making another costly mistake. This, therefore, can result in a lack of action. There are many providers of card services for credit... READ MORE 〉
One of the trickiest things about healthcare collections is making difficult telephone calls since anything that involves money (and often very large sums of money) has a high chance of being emotionally charged. Many medical practices dread having to deal with this kind of conversation. However, it happens surprisingly often. If you are required to call a patient and ask him or her to make a payment on an outstanding medical bill, it can be extremely challenging to know what you should say and ... READ MORE 〉
The healthcare payments industry is facing a tough time, with unpaid bills and overdue balances being a standard feature these days. Most healthcare practices are not designed to handle the day-to-day problems of collection. Using a collection agency may not be an affordable option either. To address the issues, medical practice staff often find themselves trying to tackle the collections process alone and this means that they could end up falling foul of the Fair Debt Collection Act.
What Is ... READ MORE 〉
When companies are choosing a debt collection agency to handle their outstanding accounts, evaluating and comparing the available options are inevitable. The agency’s rate of profit recovery, together with its overall rate of success in obtaining settlements, are key to making it stand out as a reliable and high-performing contender in the marketplace. Since the chances of having to write off debts increase dramatically with every week that passes once the debt has gone past due, working with ... READ MORE 〉
Retaining tenants in the long term is more beneficial and cheaper when compared with acquiring new tenants – this is something that most property managers already know. However, despite this, more than 40 percent of landlords tend to focus the vast majority of their efforts on the acquisition of new residents rather than the retention of the ones that they already have. This is a false economy when you bear in mind the fact that property turnovers cost a lot, both in terms of time and money. N... READ MORE 〉
Any landlord or property management company knows that real estate can be relied upon to be a venture that comes with reasonably high returns on investment, and this not only holds true for property sales but also for rentals. However, it is still important to have effective management strategies and a property management online payment system in place to generate more income and to increase profitability. Here are some tips that will stand you in good stead.
Strategic Rent Increases
While inc... READ MORE 〉
It is a fact that just 36 percent of patients who have high deductibles on their healthcare policies will pay, and this leads many medical practices to wonder what they can do to improve their chances of getting the money that they are owed. While 68 percent of patients who have deductibles of between $500 and $999 have been shown to can pay their medical bills, just 36 percent of those whose deductibles stand between $5,001 and $6,350 are willing or able to make a payment for their treatment se... READ MORE 〉
You have been told there’s an easy and legal way to offset payment processing fees, possibly even in states where it is legally not permitted, using something called a “No Fee To Merchant” model in ARM.
This model claims to work because the merchant/agency only collects the payment for the debt amount or installment, and a third-party processor charges the processing fees as a separate fee. It sounds legit and might even pass state law but there is a catch.
You see, it’s not only... READ MORE 〉