RevCycle

OCTOBER 31, 2024

As healthcare continues to evolve, so do the complexities of managing the revenue cycle, with denial management being one of the most persistent challenges. Denial management is an essential component of healthcare revenue cycle management (RCM) because denials directly impact an organization’s financial health. From 2022 – 2024, the number of providers who said denials are increasing jumped from 42% to 77%.

Dashboards 194

Dashboards 194

RMAi Blog

OCTOBER 11, 2024

MENLO PARK, CA – Latitude by Genesys , a leading debt collection software solution, is dedicated to positively impacting the communities where its employees and executives live. Recently, Latitude donated to the Food Bank of Northeast Georgia, a non-profit organization committed to alleviating hunger and addressing food insecurity across the region.

Collector 147

Collector Debt Collections 147

Your Virtual Credit Manager

OCTOBER 22, 2024

When we first think about credit risk, our minds focus on the financial status of the company in question. To manage the risk that a customer might default, companies implement credit and collection policies and procedures. Those policies and procedures, however, also need to include practices designed to mitigate the risk of fraudulent transactions.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Credit Risk 130

TreviPay

OCTOBER 17, 2024

B2B buyers, much like their B2C counterparts, are driving higher expectations when it comes to the purchasing experience. At TreviPay’s Crossroads Conference, the “Buyer Perspectives” panel explored the shifts in B2B buying behaviors, emphasizing the importance of value, relationships and technology in today’s marketplace. Moderated by Piers Gorman , the discussion featured insights from Rosilyn Richey of Viking Cruises and James Norfor of b2buy.

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CreditStrong for Business

OCTOBER 30, 2024

Lenders and credit card issuers use your credit score to determine your financing terms, such as your annual percentage rate and credit limit. However, that doesn’t mean every point you gain or lose changes your results. Instead, creditors generally create offers for multiple credit score ranges known as credit tiers, and tier 1 credit is the one you want to reach.

Credit Scoring 98

Credit Scoring 98

Chaser

OCTOBER 29, 2024

Accounts receivable (AR) is a critical metric that reflects the financial health of a company. A decrease in accounts receivable can be a positive sign of efficient credit management practices, a strong economy, increased sales, efficient inventory management, or favorable payment terms.

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Accounts Receivable (AR) Credit Management 105

RMAi Blog

OCTOBER 11, 2024

WEST SENECA, NY – P&B Capital Group, a third-party collection agency headquartered in Western New York, has spent a portion of Q3 in 2024 looking for organizations to support as part of its ongoing community outreach efforts. To better serve its employees and the surrounding community, P&B Capital Group has made a sizable donation to Sto Lat Strong , a Breast Cancer Research Fundraising Group.

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Third Party Collections 147

Your Virtual Credit Manager

OCTOBER 2, 2024

Accounts Receivable (AR) reflect a promise of payment at a future date. Though a paper asset, AR competes with Property, Plant and Equipment as well as Inventory for being the largest line item on a company’s balance sheet. As such, AR is an extremely valuable component of every firm’s working capital and a major source of collateral. (Photo by Roman Kraft on Unsplash ) Moreover, are you aware that you can convert an individual Account Receivable into cash, and receive payment just a

Past Due Invoices 130

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR) 130

TreviPay

OCTOBER 2, 2024

Connecting the Dots in B2B Payments: Inside TreviPay’s Crossroads Conference TreviPay’s Crossroads event is more than just a conference — it’s a premier gathering for professionals in the B2B payments space, where innovation meets opportunity. This year’s event in Kansas City promises to explore the future of B2B payment solutions while addressing the most pressing industry challenges.

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TMC Financing

OCTOBER 9, 2024

490 Small Businesses Served, Securing Over $1.8 Billion in Total Financing for Fiscal Year 2024 For the fourth consecutive year, TMC Financing is named the No. 1 U.S. Small Business. The post TMC Financing Celebrates Four Consecutive Years as the Nation’s #1 SBA 504 Lender, Breaking New Records appeared first on TMC Financing.

Small Businesses 105

Small Businesses 105

Abrigo

OCTOBER 21, 2024

How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. In this guest column, Jason Alpert, Managing Partner of Castlebar Holdings , explains how financial institutions should respond.

Credit Unions 78

Credit Unions Default Credit and Collections Credit Risk 78

Due

OCTOBER 16, 2024

A Virginia-based contractor, Raytheon Company (Raytheon), is set to pay $950m for bribery, export control, and defective pricing cases brought forward by the Justice Department. Ratheon is a subsidiary of defense contracting company RTX, formerly known as Raytheon Technologies Corporation. The Justice Department has conducted extensive investigations into allegations that Ratheon was complicit in a government fraud scheme involving defective pricing on specific government contracts.

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RMAi Blog

OCTOBER 10, 2024

The Receivables Management industry mourns the loss of a true visionary, Larry Vasbinder, founder of Second Round, who passed away unexpectedly this past weekend after post-surgical complications. Larry’s legacy is one of innovation, resourcefulness and an unwavering commitment to improving the consumer experience. His absence is deeply felt. Starting his career in public accounting in 1990, Larry became a Certified Public Accountant and joined the tax department of KPMG Peat Marwick, furthering

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Your Virtual Credit Manager

OCTOBER 29, 2024

Finding the time and resources to complete every collection activity needed to be done at the optimal time to be done is a constant challenge. Most small companies come up short because the owner or CFO have more important things to do and there isn’t a dedicated employee responsible for credit and collections. The solution involves maximizing both the efficiency and the impact of the collection activities you do perform.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

TreviPay

OCTOBER 3, 2024

Day One of TreviPay Crossroads began with high energy and a clear focus on the evolving landscape of B2B payments. The morning main stage sessions laid the groundwork for a day filled with forward-thinking discussions, exploring the forces reshaping B2B fintech, from globalization and technological advancements to sector-specific challenges and opportunities.

Transactions 103

Transactions 103

Regal Credit Management

OCTOBER 15, 2024

Photo by John Schnobrich on Unsplash Recently, we have seen a rise in fraudulent letters or email scams being sent to our clients. These letters often claim that the sender has compromising information about the recipient and use fear tactics to demand payment or action. While the threats are typically baseless, the real concern lies in the amount of personal information these scammers have—information they likely obtained from data broker reports.

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Cybersecurity 98

CreditStrong for Business

OCTOBER 25, 2024

Maintaining the working capital necessary to stay on top of day-to-day expenses is a challenge that all businesses face. However, it can be particularly troublesome for companies that can’t qualify for traditional financing. Cash flow loans are more accessible than many other types of business funding, but they have some significant downsides. Here’s what you should know about them, including how they work, what you need to qualify, and when they’re a good idea.

Credit Scoring 97

Credit Scoring Credit and Collections Small Businesses Default 97

Due

OCTOBER 10, 2024

Eight individuals in the Eastern District of New York have been charged with participating in a $68m Medicaid fraud scheme targeting adult day care and home healthcare services. The indictment was unsealed today in Brooklyn, New York, and focused primarily on Akia Khan, who owned two social adult daycares, Happy Family Social Adult Day Care Center Inc.

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RMAi Blog

OCTOBER 25, 2024

NORFOLK, Va., Sept. 9, 2024 — PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, has named Adrian Murphy as its global chief data and analytics officer, effective Sept. 16. Murphy will report to PRA Group President and CEO Vik Atal and serve as a member of the senior leadership team. He will lead the continued development of cutting-edge analytic solutions to drive business growth.

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Your Virtual Credit Manager

OCTOBER 15, 2024

Companies are increasingly under duress, especially small and medium-sized businesses (SMBs). While profitability at the largest corporations has risen, it has been falling at firms with revenue below $1 billion. Roughly two-thirds of firms in this cohort are operating a breakeven or worse. While the Fed has finally loosened interest rates, the cost of commercial loans are expected to remain well above the levels experienced prior to the Covid pandemic.

Chapter 11 100

Chapter 11 Bad Debt Accounts Receivable (AR) Bankruptcy 100

TreviPay

OCTOBER 14, 2024

Three of the world’s five oldest companies are hotels. The oldest is over 1,300 years old: the Nishiyama Onsen Keiunkan hotel in Japan, founded in 705 AD. It has thirty-seven rooms, natural hot springs, and has been run by the same family for fifty-two generations. So, hotels have been around for a long time. But nowadays, innovation is essential if they want to thrive in a competitive industry.

Credit and Collections 101

Credit and Collections Transactions 101

Accounting Department

OCTOBER 31, 2024

In the ever-evolving landscape of business, one size rarely fits all. This is particularly true when it comes to financial management. Whether you're a burgeoning startup or an established enterprise, having a firm grasp on your finances is crucial.

Small Businesses 95

Small Businesses 95

Waystar

OCTOBER 29, 2024

It’s no secret that automation is the optimal way to manage prior authorization. When 39.7% of denials occur during prior authorization processes , automation is the only way to stay on top of volume and slash write-offs without adding staff. And the possibilities only grow when you layer on generative AI. ( See how Waystar and Google Cloud have automated the extraction of prior auth requirements from complex payer data sets , reducing the time to generate a procedural preauthorization repo

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Due

OCTOBER 26, 2024

The stock market is a fascinating, ever-evolving entity. It’s a dynamic landscape that is influenced by a myriad of factors. One of the most prominent indicators of the stock market’s health and trajectory is the S&P 500, an index that measures the stock performance of 500 large companies listed on the stock exchanges in the United States.

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RMAi Blog

OCTOBER 22, 2024

Earlier today, the New York City Department of Consumer & Worker Protection (DCWP) announced that they are going to delay enforcement of the new Debt Collector Rules until April 1, 2025. The announcement came just two business days after a lawsuit challenging the legality of the new rule was filed, which RMAI reported on in an earlier Member Alert.

Debt Collections 130

Debt Collections Collector 130

Your Virtual Credit Manager

OCTOBER 8, 2024

Companies selling other businesses on open terms need to ensure any collection agency partners can effectively collect non-performing receivables. Doing this involves taking a series of proactive steps. These measures will minimize bad debt losses, maximize collection rates and thereby help maintain healthy cash flow, but require the establishment of credit and collection policies with a mind to the possibility that the customer you approve for open credit terms might eventually not be forthcomi

Credit and Collections 100

Credit and Collections Third Party Collections Bankruptcy Bad Debt 100

Enterprise Recovery

OCTOBER 4, 2024

Effective debt recovery is a cornerstone of financial management. Without an efficient approach to collecting outstanding debts, businesses can suffer from cash flow issues, leading to operational challenges and potential financial instability. Skilled debt recovery ensures that the company can maintain its liquidity, meet its financial obligations, and reinvest in growth opportunities.

Debt Collections 88

Debt Collections 88

Accounting Department

OCTOBER 8, 2024

Budgeting is crucial for any business that wants to succeed in the long term. As a business owner of a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.

Small Businesses 89

Small Businesses 89

Abrigo

OCTOBER 15, 2024

Day 2 accounting and mark-to-market values How banks and credit unions involved in business combinations can overcome issues related to recognizing income in a changing-rate environment. You might also like this whitepaper, "Valuation and purchase accounting in a dynamic macroenvironment." DOWNLOAD Takeaway 1 An often-overlooked component of purchase accounting for banks and credit unions is the ongoing income recognition tied to mark-to-market values.

Credit Unions 97

Credit Unions CECL 97

Due

OCTOBER 23, 2024

A Venezuelan television news network owner has been charged by a federal grand jury in the Southern District of Florida for his role in a $1.2 billion scheme to launder funds. The indictment was unsealed after evidence was presented in the Florida courthouse showing that the laundered funds were allegedly corruptly obtained from Venezuela’s state-owned and state-controlled energy company, Petróleos de Venezuela S.A.

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