Your Virtual Credit Manager

FEBRUARY 27, 2024

Situations often arise when the prudent action involves denying credit to a potential customer, imposing limits on existing accounts, or delaying the fulfillment of large orders until payment is received. Wen that happens accounts receivable (AR) performance also tends to suffer.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Bad Debt Days Sales Outstanding Credit and Collections 130

Your Virtual Credit Manager

APRIL 11, 2023

That all the above consequences can present themselves simultaneously, only makes the downside worse. If they don’t pass muster for open credit terms, there are still other options for securing or insuring payment. Photo by Elisa Ventur on Unsplash When a company’s AR under-performs, the consequences are substantial.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Days Sales Outstanding 130

SAP Credit Management

AUGUST 9, 2023

You still needed to pay at least a month’s worth of service and usually had to sign a contract or provided a payment method that the software provider could keep on file for recurring payments. Unfortunately, any unused allocation were lost if not used and overages were billed at retail rates.

Transactions 140

Transactions 140

SSI Healthcare Rev Cycle Solutions

MARCH 16, 2023

Epic Billing Made Easy: Why SSI is the Claims and Clearinghouse Solution of Choice for Hospitals and Health Systems [Live Webinar] LIVE WEBINAR: March 29, 2023 at 10 am CT As a trusted industry leader with 900 Epic clients , SSI makes Epic billing as easy as possible, so you don’t ever have to leave your Epic environment !

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Waystar

DECEMBER 9, 2022

The patient payment process is complex — to the point where some people are more anxious about paying for a procedure than actually having it done. “More than half of patients are more stressed about the billing process than the quality of the care they receive,” says Eric Sulivant, solutions strategist at Waystar.

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SAP Credit Management

AUGUST 29, 2023

Revenue Account Determination In the following menu options, you define the control of revenue account determination for transferring billing values from the SD module to the FI module. Access sequence Here, you define in which sequence fields are read from the billing document (header and item). Define your access sequences.

Default 147

Default Deductions Transactions Invoice Amount 147

The Red Spectrum

MAY 11, 2023

These payment conditions specify the vendor’s requirements for payment, along with payment due dates, late fines, and other crucial information. Late fees and credit score damage for your company can arise from late payments. Don’t let late payments put your business in jeopardy!

Small Businesses 94

Small Businesses Credit Scoring 94

Waystar

FEBRUARY 29, 2024

Run coverage discovery for eligibility transactions, or to solve denials when patients present as self-pay. Explore Patient Payments GOAL 4: REVENUE CYCLE MANAGEMENT IN HEALTHCARE Stop denials at these 4 key points Research shows that 60% of denials come from the front end, and nearly 40% are caused by authorizations alone.

Dashboards 103

Dashboards Transactions 103

Your Virtual Credit Manager

JUNE 6, 2023

They are not bothered by asking for payment, and here’s where the aggression can show up. When you last called, they promised payment in a week. I probably fell into that category. As a result these folks may tend to be timid in their approach and take a long time preparing rather than taking action.

Debt Collections 100

Debt Collections Collector Credit and Collections Default 100

Gaviti

DECEMBER 12, 2023

You can then use this cash to pay bills on time, increase staffing, invest in research and development, or expand into new markets. When businesses waste resources and the accounts receivable departments drag their feet on securing payments, they tend to experience longer cash conversion cycles. It is more attractive to investors.

Credit and Collections 98

Credit and Collections Invoice to Cash Deductions Cash Applicator 98

Due

MARCH 14, 2023

Reduce Debt It can be especially difficult to build your savings and achieve financial security if you are struggling to make interest payments on your debt. Holding a large amount of debt presents additional financial challenges , and making a plan to efficiently eliminate debt goes a long way in taking control of your financial situation.

Credit Scoring 124

Credit Scoring Small Businesses 124

SSI Healthcare Rev Cycle Solutions

FEBRUARY 17, 2023

Learn how to simplify your claims process, reduce time to payment, and make it all a snap for your RCM team. Tracey Tillman, Director of Product Management, will present the webinar Streamline Your Claims Management Process with Epic & SSI Integrations.

Transactions 75

Transactions 75

tillful

MARCH 8, 2023

While past payment behaviors can be used to predict future behaviors, the present ability to repay a loan lies in the amount of money a person or business has available after paying their expenses each month — their cash flow. They see not only that bills get paid, but how much is typically left over afterward.

Credit Scoring 59

Credit Scoring Credit Reporting Agencies Bankruptcy Credit Risk 59

Cpcmcredit Blog

MAY 10, 2023

My client is in good financial shape and does not at present use financing but they have some large corporate clients who are sluggish payers. Nothing new there of course Most of their work is short term projects which have to be completed at various stages before payments are made. Is that difficult to understand?

Credit Risk 69

Credit Risk 69

Your Virtual Credit Manager

DECEMBER 20, 2022

All these bad customer behaviors are a drain on your profit. The profit margin earned on sales to individual customers may very widely. The selling price is the major determinant, but product mix, economies of scale involved in serving the customer, and customer behavior also impact individual customer profitability.

Deductions 130

Deductions Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

APRIL 4, 2023

” This junk AR comes in a variety of forms, such as: Short Payments / Deductions Debit Memos Unapplied Credit Memos Unapplied Cash Late Payment Fees and other Surcharges Unearned Early Payment Discounts Clutter obscures the actual amount a customer owes and when presented as a statement of account can confuse their accounts payable (AP) team.

Past Due Invoices 100

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR) 100

MNS Credit Management Group

SEPTEMBER 24, 2023

Consumer debt collection: If a customer owes a business money, the business may hire a consumer debt collection firm to find the customer and convince them to pay the bill. For creditors, pursuing debtors in Malaysia may be a time-consuming, challenging, and expensive procedure. Here are eight of these problems.

Debt Collections 52

Debt Collections Credit and Collections Collector Credit Management 52

Due

JANUARY 19, 2023

Common examples of fixed expenses are: Rent or mortgage Car payments Phone/cable bills Insurance premiums Property taxes Student loans or other debt payments Don’t factor in your savings just yet. What are your plans for your retirement years ? Start by allocating money toward your fixed costs.

Transactions 85

Transactions 85

Emagia

OCTOBER 19, 2023

For CFOs, Treasure VPs, and senior credit professionals, this presents a unique opportunity to leverage the power of GenAI in addressing complex financial challenges, streamlining processes, and fostering a more innovative culture than that of competitors. Extracting data from invoices.

Credit and Collections 52

Credit and Collections Transactions 52

Due

JANUARY 8, 2024

Borrowers may use personal loans to subsidize medical bills, car repairs, wedding expenses, funeral costs, and home renovations. While such loans still require income and credit for the loan amount you wish to borrow, they may offer better terms than regular personal loans from a credit union, private bank, or mortgage down payment.

Credit Scoring 100

Credit Scoring Credit and Collections Credit Unions Medical Billing 100

SSI Healthcare Rev Cycle Solutions

NOVEMBER 17, 2023

How Healthcare Billing Departments Can Maximize AR Potential Before Year-End Home / November 17, 2023 In the digital age, innovation often means mastering the fundamentals. Providers are routinely experiencing denials taking approximately 5-7 days longer to process than a payment. So why have denial rates risen so dramatically?

Accounts Receivable (AR) 59

Accounts Receivable (AR) Medical Billing Transactions 59

Due

MARCH 7, 2024

Everybody experiences bad luck from time to time – job loss, unexpected bills, or just plain bad luck. As a result, you have to charge more next month since you have to pay your credit card bill for last month’s expenses with this month’s money. You’re completely and utterly broke. Breathe and be honest.

Credit and Collections 98

Credit and Collections 98

SSI Healthcare Rev Cycle Solutions

NOVEMBER 17, 2023

How Healthcare Billing Departments Can Maximize AR Potential Before Year-End Home / November 17, 2023 In the digital age, innovation often means mastering the fundamentals. Providers are routinely experiencing denials taking approximately 5-7 days longer to process than a payment. So why have denial rates risen so dramatically?

Accounts Receivable (AR) 52

Accounts Receivable (AR) Medical Billing Transactions 52

Emagia

JUNE 19, 2023

An invoice is a detailed business document that lists the goods and services purchased by the client, the amount owed, and the desired mode of payment. An invoice details the terms of the payment, the deadline for making payments, and the means of payment that are accepted. A receipt serves as evidence of payment.

AR Automation 52

AR Automation Past Due Invoices Accounts Receivable (AR) Credit and Collections 52

SAP Credit Management

JULY 27, 2023

We will again share insights on the latest artificial intelligence technologies that will foster your journey to the intelligent enterprise. Artificial intelligence and automation are two of the biggest technology trends that will massively transform businesses. How does it do that?

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Your Virtual Credit Manager

MARCH 28, 2023

The rigor with which this information is often presented belies the fact most business credit decisions are not that difficult. A credit bureau report will confirm some or all of these details, most importantly payment history, plus provide other public record information such as judgments and liens. Photo by CardMapr.nl

Credit Scoring 130

Credit Scoring Credit Application Bad Debt Credit Risk 130

Waystar

DECEMBER 14, 2022

Is a Good Faith Estimate required if the patient does not want one?    Uninsured and self-pay patients are entitled to a Good Faith Estimate upon request or scheduling of an item or service through the No Surprises Act billing protections. You asked — we answered. However, the U.S.

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TreviPay

AUGUST 30, 2023

Because the B2B payments flow tends to have multiple stakeholders and numerous layers of infrastructure, it’s a complex process. As a fintech organization with more than four decades of experience, TreviPay combines technology expertise, product innovation and funding choices to support businesses of all sizes, across all sales channels.

Credit and Collections 52

Credit and Collections B2B Credit Bad Debt Transactions 52

Fundera

SEPTEMBER 26, 2020

Writing “VOID” on a check—whether you’ve made an error writing the check or because you need to submit a voided check for electronic payment purposes—indicates the check is no longer valid to use for payment. When you void a paper check, it means that particular check is no longer valid for payment purposes.

Dashboards 98

Dashboards Transactions 98

MNS Credit Management Group

MAY 2, 2022

Accounts receivable show how much of your cash flow is delayed owing to past-due client bills. This article is written for small business owners who want to learn how to manage their accounts receivable and client invoice payments. It’s the amount of money for which you’ve sent out invoices but have yet to receive payment.

Credit and Collections 52

Credit and Collections Deductions Debt Collections Credit Management 52

Due

JULY 18, 2023

When you establish a clear picture of what you’re trying to reach, it can breathe purpose and focus into what you’re doing now, in the present. You can’t simply set a 10-year goal of “making a lot of money” or “getting out of debt” and stay focused every time you do your bills or choose a new investment strategy.

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Due

NOVEMBER 26, 2023

Practicing cash flow management is about more than knowing your present financial circumstances. Late Payments and Unintended Fees It’s almost an expectation to accrue surcharges and late fees in the first several years of operation, but this is unnecessary. Monitoring and leveraging financial data starts with oversight and control.

Transactions 105

Transactions Small Businesses 105

The Red Spectrum

APRIL 20, 2023

Lenders often grant higher credit limits to borrowers who present lower risk, whereas borrowers who are considered high-risk usually receive lower credit limits. However, surpassing the credit limit can lead to additional fines or penalties on top of your usual payment. To learn more about “Credit Limit vs Credit Score?

Credit Scoring 90

Credit Scoring Credit Reporting Agencies 90

Waystar

AUGUST 18, 2022

Boost patient loyalty + payments by going back to the basics Patients often find their medical billing experience confusing and frustrating, especially around understanding what they owe and why. Technology can help healthcare organizations communicate to patients about the cost of services earlier and make billing easier.

Medical Billing 52

Medical Billing Payment Portals 52

Due

JANUARY 1, 2023

A budget is simply a financial plan for the present and immediate future. It helps you decide on your spending behavior to ensure you’ll have money available for bills when they come due. . It helps you decide on your spending behavior to ensure you’ll have money available for bills when they come due. .

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130

Due

FEBRUARY 6, 2023

Tim Pawlenty, president and CEO of Financial Services Round Table and former governor of Minnesota, once said, “Financial literacy is an important part of avoiding financial mistakes and planning for a strong, secure financial future.” He might not have realized it at the time, but this quote is spot-on. The survey, conducted between Oct.

Credit Scoring 115

Credit Scoring Default Bankruptcy 115

Gaviti

JANUARY 24, 2023

This KPI is calculated by dividing the current accounts receivable by billed revenue and multiplying that number by the number of days in the billing period. To calculate the BPDSO, simply divide the current accounts receivable by the billed revenue and multiply that number by the number of days.

Dashboards 52

Dashboards Average Days Delinquent Days Sales Outstanding DSO 52