Your Virtual Credit Manager

JANUARY 3, 2023

” This junk AR comes in a variety of forms, such as: Short payment/deductions Debit memos Unapplied credit memos Unapplied cash Late payment fees and other surcharges Early payment discounts taken but not deserved Clutter obscures the true amount a customer owes and causes confusion.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

APRIL 18, 2023

Smaller agencies will often work with small companies whose collection requirements involve much less than one FTE (full-time equivalent employee) — large agencies typically want enough business from their clients to support a half-time or full-time collector. to minimize the chance of bad debt loss.

Bad Debt 130

Bad Debt Credit and Collections Third Party Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 17, 2023

Assign Collections to an Existing Employee : When doing this you need to consider if the person being assigned collection duties has the time and demeanor to be an effective collector. Again, you need to also keep in mind the impact from putting other tasks on a back burner. it just might help them pay you sooner!

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

Your Virtual Credit Manager

JANUARY 9, 2024

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. In contrast, profit driven enterprises often miss opportunities because they are too restrictive out of a fear of bad debt losses.

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Waystar

MARCH 15, 2023

With a staggering amount of patient bad debt on the horizon, it’s crucial to execute a reliable pre-visit clearance process. In order to transform the clearance process, you must estimate and communicate the patient’s financial responsibility, including any unmet deductibles, before service. PAtient financial experience TIP: 3.

Collector 98

Collector Credit and Collections Bad Debt Deductions 98

TreviPay

SEPTEMBER 18, 2024

Exclusions: Common exclusions include pre-existing bad debts, disputes between buyer and seller and non-payment arising from unresolved contractual disagreements. Deductibles: Some policies include deductibles, meaning the business must absorb part of the loss before the insurer covers the remainder.

Bad Debt 52

Bad Debt Default Credit and Collections Collector 52

MNS Credit Management Group

DECEMBER 2, 2022

Who are debt collectors? A corporation or agency that recovers money owing on past-due debts is known as a debt collector. Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Introduction. Key Takeaways.

Debt Collections 52

Debt Collections Collector Credit and Collections Bad Debt 52