Author: Eric Johannes
Next steps: When past-due invoices go unanswered
As a small business owner, you can’t afford to let the small things nibble away at your cash flow. Keeping those expenses under control is always important. But on the other side of that, you’ll want to keep an eye on accounts receivable. It is true your A/R column represents a promise from someone to make
Hospitals: Why an ethical collection partner matters
A stay at the hospital is a major event for a patient across many areas of their lives. As costs to provide care continue to rise, along with insurance premiums and deductibles, hospitals will have to face the new realities that a higher percentage of their patients are financially exposed. While hospitals offer charity care for patients
Best practices for cold-weather utility industry debt collection
When it comes right down to it, utilities— both government-run and private sector — provide essential services to communities across the U.S. Still, delivering water, electricity and natural gas isn’t free, and when customers fail to pay and then fall seriously behind on their bills, a utility company has no choice but to take action.
3 surprising ways an ethical dental practice debt collector can help
For the dental practice’s office manager, cash flow is the name of the game. That means a key part of your role is collecting payment from patients, and that takes a great deal of time and resources. In many ways, a dental practice debt collector is an office manager’s best friend, because it frees up time to
Add friendliness and efficiency to your healthcare billing strategy
As a healthcare provider, you want to keep everyone’s focus on what matters most: restoring health and helping patients have their best possible lives. When bills become past due, it’s a tricky balance between using your time well and staying sensitive to the pressures in your patient’s life, without destroying your cash flow or your reputation in the
How small business credit reporting helps you resolve past-due accounts
Late this summer, Equifax rocked the news headline cycle when it came out that hackers made off with the Social Security numbers of a whopping 145 million consumers, along with their names and dates of birth. That means nearly half the U.S. population is touched by this security breach, making it easier for criminals to
Bring balance to your small business debt collection efforts
In small business debt collection, the golden rule to motivating late customers to get current with their payments is persistence. Phone calls and reminder notices should be a part of every small business’s billing procedures, even if it’s not time yet to turn over the accounts to a collection partner. It’s important to bring balance to the
A Practice Checklist to Help You Prepare for 2018
Each day, your practice is there to help patients take stock of their health and create a plan to get healthier. But how often do you step back and give your practice a good checkup? The end of the year is a natural time to look back on the past 12 months and take stock. Don’t
IC System Comes Together for Local Food Shelf
When the leaves start to change and the autumn season rolls around, that means it’s time for the Fall Fundraiser at IC System. Our company’s charitable group ECHO (Employee Charitable Help Organization) leads several days of games and events to gather employee donations for local charities and families in need. No other game or activity
A patient has filed for bankruptcy. Do you know what to do?
Patient bankruptcies in the healthcare industry, as a whole, are on a downward trend. In 2016, the rate had fallen by half compared to those filed just six years before. Still, it’s important for any practice or clinic to take time to consider the legal and ethical implications that come with working with a patient who has filed. Now’s the
