Simon's Says - Issue #26 - January 2017
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What to do with an irate caller

Negotiating with a Debtor Part 1:
Using Standard Criteria to Maximize Collections

Before a successful billing and collections strategy can begin, your billing department needs to arm its employees with a plan of attack. Developing a set of standard criteria gives your team the rules and direction they need to approach each account confidently and fairly.

Picture this scenario. You’ve been working on getting a debtor to pay his or her overdue bill for weeks. You’ve left messages and sent statements. Today, you finally get a call back and the patient says they are ready to start paying their bill. All you know is that they are ready to pay something and it’s up to you to maximize their payment amount and minimize the length of their term within the guidelines your organization sets. In order to accomplish that...

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One Third of Tax Return Recipients Will Use It To Pay Down Their Debt

Getting your accounts in now is imperative to timing up with the first federal tax refunds which will be deposited or mailed out as early as the middle of January.  The peak for tax returns quickly follows and will hit by mid-February!  That’s not a lot of time to prepare unless you start doing so now.

Between H & R BlockCNN MoneyBankrate and USA Today, they report that no less than one third of all refund recipients (and as high as 41.9%) will use at least a portion of it to pay down their debt.  So it is in fact paramount to get in line now to make sure that the majority of debtors who will use a portion of their return to pay their outstanding financial obligations, use it to pay the unsettled bill that is affecting your revenue cycle.

Here is a list of the top five things revenue cycle managers should do to maximize their collection revenue in the first quarter.
14th Annual NAVAC Golf Tournament Sponsored By Simon's Agency, Inc.
Simon's Agency strives to provide the very best customer service possible to our clients. Sometimes all that is needed is a helping hand so here are some helpful links to features on our website that directly support our clients.

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And one just for fun:

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