With challenging economic times now and ahead of us, we’ve heard a few questions about how things are going here at Capital Recovery. Here are some answers.
What to Know about Capital Recovery and Your Collections During COVID-19
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Capital Recovery Blog
Tips for Businesses in Surviving a Rocky Economy
Many businesses are struggling with shutdowns or slowdowns, and smaller companies will be hit hardest. Here are some ideas for surviving these turbulent times.
Do You Need a Debt Collection Attorney?
In most cases, your AR team or collection agency’s time and effort to get payment will work. But what about when it doesn’t? Should you hire a collection attorney?
What’s the Difference Between “Early Out” and “Bad Debt” in the Collections Industry?
In the Collections world, there are two main phases of recovery: Early Out (EO) and Bad Debt (BD) collections. There is some overlap in the meaning of these two, and it can be easy to confuse them both internally and externally.
Do’s and Don’ts to Help Your Company Work with Challenging Debtors
Collecting payment from people who are behind isn’t easy. After all, you’re human, and you know that sometimes, people just don’t have the money. Of course, some people are rude — and that’s challenging to manage as well. Wherever your customers fall on the debtor spectrum, here are some do’s and don’ts for handling the tougher calls.
The 9 Steps of the Medical Billing Process — Including the Ones Most People Skip
Medical billing is a unique animal, requiring plenty of knowledge about different insurance companies, plus a reliable process in place to make sure nothing is missed. If your team works at a doctor’s office or health organization, make sure you’re tackling all these steps.
4 Critical Elements to Include in Your A/R Status Reports
Without data points as guides, your executive team is not able to make decisions about the business. But which metrics are important for your A/R status reports?
How to Use Text Messages as Part of Your Collection Strategy
Texting has become almost a universal way to communicate with friends, family, colleagues, and even clients. Sometimes, it’s the fastest and easiest way to reach people. But in the world of collections, can you — and should you — send text messages? How to Use Text MessagesText messages don’t just come into play after your customer is late paying his or her bill. You can start using text messages with customers at the start of your relationship.
Less Bad Debt: 9 Steps You Can Take to Send Fewer Patient Accounts to Collections
Some clients and patients will never pay, and that’s just part of doing business. Of course, that costs your company money, and ultimately, the consumer. However, there are some steps your AR team can take to increase cash flow and reduce patient collections. Our team of collection experts compiled this list of ways to improve your collection program.