Blog
Top Myths About Working with a Collection Partner Dispelled
Businesses of any size might be reluctant to turn to an accounts receivable partner for a host of reasons. Here are three (debunked) myths about working with a third-party debt partner, and details about how working with an agency can boost your revenue. 1. Debt collectors are only for extremely late bills. This is not
How much do collection agencies charge?
There are thousands of debt collection companies out there with different pricing options, so getting an idea about how much collection agencies charge can better prepare you for vetting collection services. Collection agencies charge their clients in a myriad of ways; though, most collection agencies offer either contingency collections or flat fee programs for third-party
Small Business Owners: Build Your Accounts Receivable Plan
One of the challenges of being an entrepreneur is having to do it all yourself. For small business owners, accounts receivable can be a bear. You already have to deal with sales, marketing, HR, strategic planning, budgeting, accounting, inventory, and shipping with a small staff—sometimes, all on your own. Adding to the challenge of mastering these
4 Tips to Streamline Your Business and Reduce AR
When you run a small business, you’ve got a To-Do List about a mile long, and finding new ways to reduce AR isn’t at the top. There’s rarely enough time in the day or week to get your list done, so you have to pick and choose what gets accomplished. While you’re managing the day-to-day,
Improving Cash Flow for Small Business
Cash flow is the lifeblood of any business, and that’s especially true for a small business. But it doesn’t always flow in an even and orderly fashion. On a graph, revenues have ups and downs, fluctuating with the economy or other factors. This forces many entrepreneurs to rely on various forms of credit, including receivables
Find Revenue in Your Late-Stage Healthcare Receivables
If you’re like most mid-size or larger healthcare organizations, chances are you only have a single-tier strategy for your receivables. You place your past-due accounts with one or more collection agencies, and they attempt to recover a portion of the inventory, and that’s where collection efforts end. Many health systems in the industry manage their
IC System Breaks a Record at Charity Golf Tournament
IC System hosted its annual Charity Golf Tournament at Tanners Brook Golf Course in Forest Lake, Minnesota, on Friday, July 15. Now in its 24th year, the event brought IC System employees, vendors, and business associates together for a day of course games and friendly competition for a good cause. This year, the tournament broke
IC System Named a 2022 Star Tribune Top 200 Workplace
The Minneapolis Star Tribune has named IC System one of Minnesota’s Top 200 Workplaces. Minnesota employees were surveyed about their employers, and 200 businesses across the state were selected. A complete list of the businesses is available in the Star Tribune and appeared in the newspaper’s Top Workplaces special section on Sunday, June 19. The
Consumer Collections: When Consumers Stop Paying, Listen
As a small business owner, you feel it when your fortunes shift—even just a little bit. When a consumer doesn’t pay for your products or services, covering your expenses becomes much tougher. Fortunately, you can shore up your financial strength by being proactive about the balances on your books and using consumer collections to recover
Announcing Two New HFMA Chapter Presidents
IC System is pleased to announce two new HFMA (Healthcare Financial Management Association) chapter Presidents. Mary Prendergast has been named President of the Virginia-Washington DC HFMA, and Bart Shea has been named the President of the Arizona HFMA. Both Mary and Bart also serve as Vice Presidents of Business Development at IC System, and both
