Efficient AR (Accounts Receivables) management is an important area of focus for CFOs in the current economic climate. Improving collections performance leads to cash flow increase, reduction in bad debts and an improvement in the organization’s credit rating, which reduces the future cost of borrowing for the company. However, though many companies have invested in […]
No one wants to wait three months to be paid. The Department of Surgery outsourced its bill collection, which cut day in accounts receivable from 94 to 50. But the change wasn’t easy; the two partners had to change how the surgeons operated (their back office.)
AMO, a debt collection firm, looked at a number of suppliers, then set up a 60-day champion/challenger test. Who could collect more money–AMO’s dialer or the supplier’s system? We wanted to test their situations under combat conditions, says Michael Chamberlain, AMO’s President.
A 2005 study on outsourcing and insurance subrogation reveals why some insurance carriers are looking to outsource subrogation and others are hesitant. Another interesting finding: reducing costs is not an objective.
Some medical practices think that simply automating billing and collection processes will put an end to chasing dollars from insurance companies. But a number of things can go wrong. This unique service provider ensures the front-end processes and workflows match the outsourced system and processes — otherwise, the billing processes cannot succeed.
Believe it or not, before the launch of Windows 95, the ledgers of Microsoft’s European entity, based in Ireland, looked dreadful. Mark Creighton, EMEA Credit and Collections Manager for Microsoft European Operations Centre, says the company decided to bring someone on board to clean it up before the launch of the new Windows product. French & Associates knocked on the door at just that time and was given the task. Their fee was based on a percentage of what they managed to collect, and Creighton (who was at that time part of the French team) recalls that it was far more successful than we ever had imagined.
1929 was not a good year for investments. That was a good year for The ABC Companies, Inc. to begin its commercial collection business. In 1989 the company, located in Buffalo, New York, entered the outsourcing fray by handling 150,000 accounts for Motorola. Tim Smith, vice president of outsourcing for the Buffalo, New York supplier, says the No. 1 reason companies outsource to ABC is because the company can handle the entire collection process from A to Z, or, more specifically, from risk management to cash collection…..
Two years ago Shurman Fine Papers was going through a computer conversion. At that time Charlene McDonald, the Fairfield, California company’s director of credit, realized some accounts had become billing problems and had not been contacted for two years. (outsourcing, bpo)