Medical billing collection is a challenging business. Whether you are a debt collection agency, an extended business office, or the accounts receivable department that manages healthcare collections, many struggles are the same. Bad medical collection practices can damage a healthcare facility’s reputation. Bad internal communication can impact medical billing collection results. Poor patient education can cause lower healthcare collection numbers. …
Customer Engagement Strategies for AR, Debt Collection
Your debt collection agency or accounts receivable (AR) department’s top priority should be collecting as many payments as possible. But the way people communicate is different than it was even a decade ago. Modernize your AR staff and improve customer engagement tactics to keep up with customer expectations—email, SMS and online payments. Is your customer engagement strategy in line with …
Best Practices for Call Baiting in Debt Collection
The debt collection process can be tricky. Collection agencies must follow regulations strictly–or you’ll find your business in jeopardy. Compliance can be even harder when scammers actively try to disrupt your debt collection practices through call baiting. Why is call baiting done and what can debt collectors do to prevent the practice? Here’s what debt collection experts David Kaminski, Partner …
Four Important Features of Payment Collection Software
Many important aspects go into choosing payment collection software for your debt collection agency. Thinking about everything you must consider can be daunting. When examining your payment collection software, start with these four areas to decide if it’s doing all it can for your agency.1. Security With the increase in data breaches in recent years, cyber security is a huge …
Steps to Create a CFPB Complaint Process for Agencies
The Consumer Financial Protection Bureau (CFPB) is an independent federal agency responsible for maintaining the safety of customers who interact with financial businesses. Because they create and enforce the regulations that govern the credit and collection industry, debt collection agencies know this organization well. But do you know the best way to handle a CFPB complaint about your business filed …
Dispute Resolution Processes for Debt Collection
What happens if the consumer you speak to doesn’t agree that they owe a bill or debt? What if a consumer leaves your company a bad review on the internet? What policies and procedures does your debt collection agency have in place to ensure compliance and a dispute resolution process? In the past, PDCflow partnered to cover a California Association …
10 Examples of Great Debt Collection Websites in 2024
In the debt collection industry, if you haven’t updated your website to meet today’s consumer expectations, you’re probably already losing revenue. A user-friendly debt collection website is a necessity if you want to stay competitive and effectively engage consumers. The Consumer Financial Protection Bureau’s (CFPBs) Regulation F attempted to clarify many aspects of compliant debt collection like text messaging and …
Skip Tracing Tools and Techniques for Collections
Between 2017-2020, PDCflow partnered with the California Association of Collectors (CAC) to share in-depth advice on running a successful, compliant debt collection agency. The subjects, ranging from day-to-day operations such as best practices for telephone communications with consumers to high-level topics like creating debt collection settlement campaigns, first appeared as the curriculum of the CAC’s Collection Boot Camp courses. Our …
Navigating Federal and State Call Recording Laws for Debt Collectors
Each year, the California Association of Collectors (CAC) provides insight to debt collection professionals through a series of educational courses. They touched on topics ranging from responding to disputes to tips for creating compliant collection letters, to best practices for handling call baiting. PDCflow has partnered with the California Association of Collectors (CAC) in the past to cover many operational …
Expert Tips for Creating Debt Collection Letters
Debt collection letters are a central part of a collection agency’s compliance management system. However, the California Association of Collectors (CAC) 2017 Collection Boot Camp panel, Courtney Reynaud, Shawn Suhr, Kelly Parsons-O’Brien (agency owners) and June Coleman (attorney), recognize the potential liabilities inherent in drafting collection letters. Their combined expertise and Coleman’s legal know-how as the CAC’s MAP attorney provided …
Guide to Credit Card Chargebacks for Collection Agencies
Every business comes with obstacles. A high-risk operation like a debt collection agency is full of especially unique team management and compliance challenges. Along with industry-specific rules, collection agency owners and managers must also comply with Regulation E, understand PCI compliance rules, and maintain a compliance management system as a whole. While balancing these responsibilities, agencies need to keep a …
Consent Management for Electronic Communications: Best Practices for Creditors and Collectors
Regulation F and reaching consumers through electronic communications is now a reality. Debt collection agencies have prepared as best they can and have implemented new compliance policies and procedures. But what about creditors? All creditor clients that use a third-party agency should know about Regulation F. Are you (and more importantly, are your clients) ready for data maintenance and handoff …
