Every time a good employee quits, your office loses knowledge and experience that could have enriched your organization. If you’re tired of training people only to lose them months later, consider adding a career development plan to your employee pipeline. Beth Conklin, Director, Organizational Training and Development at State Collection Service, Inc. and Hal Trapp, AVP, Organizational Initiatives at Receivable …
6 Step Blueprint to Prevent Call Center Burnout and Stress
Many collectors experience call center burnout in their careers. Back to back negative calls, pressure to meet goals and countless other factors can contribute. When your call center agents are in this position, they can’t recognize missing opportunities for collection (making the problem worse). Luckily, CollectorLive! provides debt collectors in all stages of their careers with tools, tips and education …
Improve Call Center Operations Through Training and Technology
Improving your call center operations is an ongoing struggle. You want to provide the best customer experiences possible but managing large teams and standardizing processes is hard. From acquisition to customer service to payment, there are many steps where the system can break down. Investing in workflow tools and the latest training techniques will make life easier for your customers …
Make the Right Hiring Decision: Tips for Interviews and Resume Reviews
Today’s post is a guest blog written by Mary Shores, agency owner of Midstate Collection Solutions. It’s no secret that hiring has become a challenge in most industries, and the debt collection industry is no exception. We spend time writing job descriptions and interviewing, only for our candidates to change career paths. Or, we choose a bad hire who only …
Money Management Tips for Every Stage of the Business Lifecycle
No matter where your organization falls in the business lifecycle, managing the financial health of your company will always be crucial for success. Even the biggest corporations in history have run into cash issues. It can happen to anyone. In fact, issues with cash flow are the leading cause of business failure. Luckily there are ways to improve. Being proactive …
Automation Solutions: How to Identify Areas of Opportunity in AR
How much of your staff’s time is spent doing repetitive tasks? How much of that time could they devote to more important issues? Automating these simple processes streamlines day-to-day responsibilities. If you manage operations for your call center, collection agency or office, identifying automation solutions that will impact your business should be a priority.Why Look for Automation Solutions?Why are automation …
4 Pillars of Empathetic Communication in Healthcare Finance
Last updated May 2023 Since the beginning of the COVID-19 pandemic, “empathy” and “compassion” have been buzzwords in almost every industry. People are craving the human connection and understanding that comes with empathy, which is why now more than ever, understanding compassionate, empathetic communication is extremely important. For organizations that collect healthcare payments, having empathetic communication skills should be part …
EBOs and the Patient Experience in Healthcare Billing
The patient experience in healthcare billing is an essential (often overlooked) part of the healthcare revenue cycle. Every medical organization understands that patients need to feel involved in their care during medical services but don’t always extend that importance when it’s time for patients to pay. As an extended business office (EBO) for a healthcare organization, what does the patient …
3 Strategies for Patient Engagement in the Revenue Cycle
In the past few years, high deductible healthcare plans have transformed how patient care is funded. More services are being paid for by patients or through their Health Savings Accounts. This has made patient engagement essential to the billing cycle to ensure medical bills don’t become seriously delinquent. Greater financial responsibility also means that patients have begun treating their healthcare …
Improving Patient Experience: Tips for Medical Billing Staff
In the past, patient satisfaction centered mainly on care received during a visit. Check-in experience and billing and payment issues weren’t considered. Now, healthcare systems and hospitals are putting more focus on improving the entire patient experience throughout their customer journey – including their financial experience. For the extended business office or medical billing staff who collects on patient payments, …
Enhancing Your Early Out Collection Strategy
As accounts receivable professionals know, early out collection (also known as pre-collection) is a typical practice to resolve healthcare bills and other late customer payments. It helps organizations shorten the revenue cycle and settle accounts as quickly as possible. Extended business offices also reduce overhead expenses for the companies your EBO is working with. EBO tactics help companies intervene before …
Top 5 Reasons Extended Business Offices Fail to Collect Past Due Payments
Working with a client as an extension of their business can be challenging. If you currently run (or are considering running) an extended business office, you may already know the challenges involved. However, between compliance, staff training and other back-office concerns, it can be hard to manage the roadblocks your agents experience during payment collection. If your business is interested …
