For a utility company, a block of unpaid bills on the books can be a millstone. Unfortunately, with each missed payment, your chances of recovering the money starts slipping away. To help you get paid more quickly, take a look at some preventive measures and strategies to deal with these common situations. Old debts: In many states,
There’s a lot of discussion and commentary out there about this issue, but everyone seems to agree: due to high-deductible health insurance plans, and a general failure to effectively address the flaws in the patient self-pay process, the bad debt problem is only going to get worse for many healthcare providers. Mike Trilli, the senior
Not all tenants are alike. While many pay their utility bills on time, all the time, some are prone to skipping town and leaving their landlord behind to make up the balance. To smooth over this unfortunate process, here are some strategies and best practices when working with tenants and landlords in utility collection and delinquency.
Some problems don’t come with obvious solutions. For example, one issue that has been making headlines is malfunctioning meter equipment, which results in back billing customers to make up for the losses. When equipment does not function correctly and it turns out the customer has been underpaying for the product, the utility often finds itself with
If you are concerned about collection laws and how your third-party collection partner reflects on you, it is not without reason. That’s because in 2015, a few of these companies were out of bounds: 895,158 consumers logged complaints to the Federal Trade Commission against third-party debt collectors, according to the agency’s Consumer Sentinel Network report. They were accused
Trying new things. If you’re a utility provider, finding a new revenue stream may feel like a challenge and a risk. But most regulated utilities providers are seeking one or more new revenue streams, according to Utility Dive’s 2016 State of the Electric Utility Survey. Finding new and alternative sources of revenue is a primary
Do you have a landline? If so, you are part of a growing minority. Results from a study last year by the National Health Interview Survey suggest that more than half of all U.S. households have canceled their landlines and now use just their cell phones. The percentage is even higher among twentysomething adults, and
We have a healthcare collection tip for you. But there’s something to consider first. What was once a longtime truth about medical billing is now turned upside-down. For years, uninsured patients were charged more for their care than insured patients. Today, patients are finding they can uncover deep discounts if they pay for their care
Chances are, your practice is not getting as much money from insurance companies as in previous years—even if it’s true that more patients than ever are covered by insurance, and the majority of your revenue probably still comes from insurance companies. But today’s patients are paying much higher deductibles than even five years ago. For
We are frequently asked, “Why should I outsource collections?” or “What advantages in recovering my consumer’s debt do you have that I don’t?” The easy answer is this: Our advantage as a professional collection agency is we simply have the tools, resources, and industry expertise required to achieve the recovery rates our clients are desiring.