Blog category - Debt Collections and Revenue Cycle

Maintaining a healthy cash flow is vital for the success and sustainability of any organization. While attracting new customers and generating sales are important facets of revenue generation, an equally crucial aspect is revenue recovery, or collecting payments from customers who owe you money. This is where an efficient collections department becomes invaluable. As economic

Did you know that there’s a goldmine of untapped potential hidden within your data? It might sound surprising, but research has revealed that a whopping 55% of the data in enterprises goes unnoticed, often referred to as “dark data.” Why is this a big deal? Because in today’s business landscape, data is as good as

Pandemic and inflationary pressure threaten an increase in delinquencies Eight out of every ten Americans have debt, and yet a new record was set at $15 trillion household debt in September 2021, according to the Federal Reserve Bank of New York. The recent Covid pandemic and looming 30-year high inflation rates threaten to increase the

Lowering interest rates and making borrowing easy were essential for bracing our communities through the pandemic. But cheap money isn’t free money. 29% of Americans have debt in collections. Collection rates remain at a historic low average of 20% in the US. Businesses cannot afford to lower their guard on getting paid. Moreover, new hurdles

The world of debt collection has been undergoing a profound transformation that predates COVID. It started with the transition to digital: using all available channels, voice, email, and text to contact delinquent customers increases partial or full payments. It’s a big change for an industry where, not long ago, a collector could call someone multiple times in

$320 Billion – that’s the 2020 financial loss predicted for the nation’s healthcare providers by the American Hospital Association. Because of their increased activity level, we assume they’re profitable, but they are facing increased financial pressure. Deferred elective procedures and patients’ postponing care have taken a toll on their revenues. In all institutions, Revenue Cycle

Consistent revenue and profitability are crucial for companies to survive in today’s economy, with businesses relying on collections to ensure their inbound cash inflows remain uninterrupted. Think about it, before the pandemic, the household debt in the U.S. had reached a staggering $14.3 Trillion (according to the Federal Reserve). The situation is incredibly pressuring collection