Closing the Books by IC System

Utility companies, like many businesses, were impacted by the COVID-19 pandemic. With people struggling to pay their bills, that left utilities with growing accounts receivables. Karen Jonas, Senior Vice President of Business Development at IC System, and Eric Port, Recovery Manager at DebtNext, provided some insights on the matter and some welcome news for utilities struggling with mounting AR balances.“What we see is a lot more utilities are starting to regain focus on their write-off collections again,” Port said. With the pandemic beginning to subside, there is a renewed effort on recoveries and a shift in the type of recoveries utilizing digital methods, such as email and text.

Debt collection rarely, if ever, has a positive connotation. Joe Erickson, Director of HR at IC System, spoke with Eric Johannes, Director of Corporate Marketing at IC System, about how this relates to the significance of creating positive culture in this sector. Erickson has worked for IC System, a family business founded by his grandmother, for 22 years. He sees the main benefit of working for a private-owned company as being able to say when something is wrong and act with integrity, even when difficult. “Our core values are something that we've stuck by, and we have held to even when it is inconvenient,” he stated. “Being a private-owned company, we're able to be more flexible, we're able to do what's right for our clients maybe more and were able to do what's right for our employees maybe more.” Because collections has a negative connotation, it's crucial for IC System to spread the message that they are trying to do good. “We're really trying to be the good guy and be an extension of our clients and treat people the way we'd want to be treated out there,” Erickson explained. This involves finding the right people to do the job and being a good steward of clients, the community, and employees. IC System creates a culture of buy-in where employees believe in their vision. “If you have people that are not living your core values, it can spoil the water and it can make it bad for everybody else. And I think that we protect that, we protect our core values, and we really don't make our people work with people that don't align with us,” Erickson said. To learn more about IC System and how they instill positive culture, subscribe to Closing the Books on Spotify OR Apple iTunes. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Tax time for collections agencies is a time when conversions and recovery increase. This window of time when debtors may have additional funds is prime time for collection success. Discussing why this is and offering more insights, Bryan Campbell, Business Development Manager at IC Systems, joined Closing the Books host Tyler Kern.  “From an activity standpoint, it's a seasonal lift. Inbound volumes are up over 10%, conversion rates by 7%, and payment size by 20%,” Campbell shared.  Campbell attributed this rise in recovery to consumers wanting to meet their obligations. “There's a psychology to it. People get a refund and have the means to pay. Very rarely do consumers not want to at all. It's just they don't have the ability to do so.” “If they are exploring it or unhappy with previous results, it's time to get into it. The first refunds hit around early February, and you want to be ready to benefit when the money is there.”  Campbell also advised that turning accounts over to collection should happen after 90 days. From there, collectors can begin collecting on the account in about 35 days after the debt validation notice and the time consumers have to dispute it. “Most debts are collected within the first 90 days of delinquency. It decreases after that. If you wait longer, the value decreases. It's much lower after 120 days.” With strategies in place and the ability to negotiate settlements, many businesses can see Accounts receivable (AR) recovery increase during tax time and all the months of the year.  IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections.

“There's a lot of science behind it,” Selbitschka said. “We're looking at the portfolio as a whole. So, as the accounts come in, we're looking at average balance, we're looking at where the consumer is located, how long the consumer had the services. Were they a continuous payer, where they a one and done? There's all that information that goes on behind-the-scenes we look at before we make a phone call.” Utilizing data during this phase provides accurate information upfront and ensures a better return on collections. Selbitschka said IC System utilizes a data vendor who channels up to eighteen pieces of different information to create a score. This score generates a 5-tier model for IC System's dialer team to assign penetration rates. “One of the neatest things about our model is it's very interactive during the first thirty days,” Selbitschka said. The model factors all of IC System's communications, contacts, payment arrangements, unsolicited payments, wrong addresses, bad phone numbers, refusal to pay, and consumer interactions, and fluctuates accounts up and down the various tiers. This approach provides- real-time data for the dialers, and it is a competitive advantage over a collection agency using a static credit score to make call decisions. It's critical that scoring isn't a one-way street. IC System generates a score from the consumer as well. That data allows IC System to make continual process improvements and provide consumer satisfaction results to clients.

On this episode of Closing the books, a podcast by I.C. System, Host, Eric Johannes, sat down with Kay Drinkwitz, a Lead at IC System. The two discussed Drinkwitz's 27-year journey at I.C. system, from her early days as a college student to her work today as a mentor for other collectors, as well as how the task of debt collecting has evolved throughout her years at I.C. System. Drinkwitz was only 18 when she got referred by her supervisor to start at I.C. System. She recalls her first years working in debt collection being intimidating, especially when comparing herself to some of the more experienced collectors. “I was very soft on the phone,” Drinkwitz explains, “I think it helped me develop a lot of my self-confidence over the years. I've grown with the job for sure.”After graduating college with a degree in Elementary Education and a minor in Mathematics, Drinkwitz found that her job at I.C. system ultimately worked best with the life changes she was experiencing at the time. Now, 27 years later what started as a part-time job in college has turned into many years of experience and fostered relationships.“I definitely could not work for a company that was not in line with my own values,” Drinkwitz explains. “We really try to put people first and that's important to me. The approach that we have always taken is to try to help people and try to do the right thing.”The two go on to discuss the evolution of debt collecting at I.C. system, such as changes in terminology like “consumer” instead of “debtor”, as well as dealing with the negative connotations associated with debt collecting and navigating through difficult conversations with consumers.For more information, visit https://www.icsystem.com/.

With 50 states and seemingly a different set of rules for each, keeping up with the regulatory changes in the collections industry can be tricky. But Michelle Dove, Corporate Counsel & Chief Compliance Officer at IC System, said it's all in a day's work. She joined host Tyler Kern to shed some light on the latest industry regulations and provide some best practices for keeping on top of the changes.Dove's primary job with IC System is to manage litigation. Still, she also spends a fair amount of time reviewing policies and procedures to ensure everything follows the ever-changing laws and regulations.“There are some federal laws that are overarching and govern everything we do,” Dove noted. “The FDCPA, in essence, tells debt collectors that you have to treat consumers fairly. The FCRA governs how we report debts if our clients elect a credit reports' accounts. The FCRA tells us how to do it right. The TCPA governs how we call consumers and mostly dictates how and when we can call cell phones.” And there are many other privacy-related laws debt collectors must follow.The more states that create their own regulatory operations and laws, the trickier compliance is for companies like IC System. It can get exhausting, but overall, Dove said it's a good thing.“I think for a long time in our industry, we collected debts a little bit unknowing of what the requirements or expectations were, and we usually found out when we got it wrong,” Dove said. “The good news, with all of this regulation, is it tells you how to collect debts the right way, and so ensuring compliance then is the next step.”For more information, visit https://www.icsystem.com/.

On this episode of Closing The Books, a podcast by IC System, Host Tyler Kern talked with Mary Prendergast, Vice President of Business Development at IC System, and Gary Meza, CEO, and Owner of GTM Medical Consulting, whose mission is to become the leading business advisor for physicians in the Mid-Atlantic by helping its clients achieve best practices both financially and operationally. The trio talked about how a business adviser can improve your healthcare organization's revenue challenges. Meza and GTM Consulting help practices that are struggling. Having worked with over 100 practices from numerous backgrounds, he helps them by restructuring them and making them more financially sound. One of the main issues he sees is billing efficacy, which in turn becomes a cash flow issue. “To flesh this out I ask physicians if I can review their accounts receivable and monthly billing report,” Meza said. “Very seldom do they review these on a regular basis. They just want to practice medicine.” The business of healthcare has changed over the last ten years, however, with practices now forced to enlist a business consultant or business manager. Meza has been a long-time partner of IC System, introducing clients that need help with self-pay solutions. The pandemic, however, has brought a fresh round of challenges to the industry. Listen to hear more about these challenges and how a business adviser can help improve a healthcare organization. For more information, visit https://www.icsystem.com/.

Class was in session on Closing the Books as Tyler Kern got a crash course in the secrets behind writing an accurate collections RFP to capture vendors' attention and deliver the results businesses desire. IC System Proposal Manager Mark Pollard provided insights into what vendors like IC System look for in a well-written RFP that helps them communicate how their solutions will make a perfect fit for a prospect's business.There are many standards and requirements in an RFP that won't change over time, but Pollard said he'd seen his fair share of RFPs that had not changed in 20 years. With technology changing and many other aspects of a business rapidly evolving, Pollard recommended companies regularly review and update their RFP process and documents.A key consideration Pollard said that some businesses don't give full attention to during a collections RFP is their debt portfolio. “Know that the details of your debt portfolio are yours,” Pollard said. “The hesitancy I see with some buyers is they've been working with a collections vendor for a number of years. That collections vendor has accomplished a certain amount of success and returned a certain amount of dollars to them. When when you ask them about that success, and what has your incumbent provider accomplished over the last, say, four years, they say they don't feel right about sharing that; it's kind of maybe proprietary to the incumbent provider.” This information is the buyer's information, and they are within their rights to share it in an RFP.For more information, visit https://www.icsystem.com/.

The Better Business Bureau (BBB) has long been an organization that seeks to build trust between businesses and consumers. Most people are familiar with their grading, which is the result of customer reviews.They also have the Torch Awards for Ethics, and IC System is a 2021 winner. Discussing the award and what it means, Closing the Books host Tyler Kern spoke with IC System President and CEO John Erickson and Lisa Jemtrud, VP of Community Relations for BBB Minnesota.Jemtrud explained the basics of the award. “Its purpose is to lift up those businesses showcasing ethics, and it's been held annually since 2000.”Next, Jemtrud discussed eligibility. “You don't have to be accredited with the BBB but must have a letter grade of B or better. The company must be in the service area of Minnesota or North Dakota and be in a good financial position. Additionally, the business can't have a record of complaints or government actions.”Beyond those specifications, the determination of a winner focuses on four main aspects: how a company treats its customers, vendors and employees, as well as what they are doing for the community. An independent panel of judges from various industries also looks at the application and how it describes how the company executes ethics daily.John noted that IC System has long appreciated its affiliation with the BBB and its A+ rating. “We've been applying since 2010 and had been runner up before winning this year. The award embodies everything we're trying to do at IC.”IC System was so committed to this they even put it in their strategic plan. “It lines up with our core values, and it was a part of our strategy. We view it as a great accomplishment.”For more information, visit https://www.icsystem.com/.

Debt collection is a challenging aspect of healthcare operations. With a variety of organizations, account recovery isn't one-size-fits-all, nor is it usually manageable with limited resources. For more information, visit https://www.icsystem.com/.

What does patient advocacy look like in 2021, and how has COVID-19 impacted the healthcare system from the patient to the provider and collection agencies? Kristina Gursky, Director of Healthcare Client Success at IC System, and Kenny Koerner, Director of Revenue Cycle at CGH Medical Center, helped host Tyler Kern break down this important and timely topic.

The world of debt tends to creep up on many businesses. One moment it's a small purchase on a credit card, the next it's thousands of dollars with high monthly payments and high interest. Sometimes with this debt, businesses even fall into missing payments and become delinquent. This is where debt collecting agencies come into play. In working with the thousands of clients in the IC Systems' portfolio, Bryan spoke about some of the information that small businesses should have handy when going to a debt collection agency. The more pieces of information the better as the process of collecting debts can be time-consuming with a lot of details. He said that businesses should have there, "Basic demographic, information like your first and last name, and the consumer or patient, address, primary phone number, a balance that's owed, and then separating that from a principle to other fees like interest as well.” Debt collection agencies can take on a lot of different types of debts with a varied amount of circumstances. They look to expand on their partnerships with whoever they're going into business with. But as Bryan explained, there are instances where agencies can't or won't take on the debt that people should know about. He said that “any bankruptcies, we would not look into. If I a debt can't be validated or it might be disputed, we can't accept that. Anything that that hasn't been notified from a past due status.” Debt collection agencies continue to be a go-to source for those who find themselves drowning in debt whether it be an individual or business. One thing to remember as Bryan added was that time is always of the essence with debt. “The longer you wait, it just is more difficult” IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Mike Selbitschka joined IC System fresh out of high school. Now IC System's Vice President of Operations, Selbitschka knows a thing or two about the collections industry. And the best tool he knows for measuring success is the scorecard.

Finding a perfect match can be difficult, but sometimes things just click. That's the case with IC System and Genomind. Genomind, a company utilizing genetics as a data point in diagnosing mental health challenges, wanted a recovery agency that, instead of aggressively going after those who hadn't yet paid for the services provided, would take a tactful approach.For more information, visit https://www.icsystem.com/.

Business leaders in B2C industries are quite familiar with post-call customer satisfaction surveys. After all, they're one of the most effective and practical ways to measure consumer sentiment.However, the debt collections market is one industry that hasn't implemented this aspect of consumer experience – until recently.Tim Scholl is IC System's Call Center Support Supervisor, as well as the one who built the company's Consumer Satisfaction Survey (CSAT) in 2017. Podcast host Tyler Kern tapped Scholl's expertise in this area to find out what benefits and insights this system has provided since then.Although customer satisfaction surveys are standard for most consumer-facing businesses, this was not the case for the debt collection industry. In fact, when IC System first launched their post-call survey initiative, it was the only collections agency doing this.But, since September 2018, Scholl's CSAT system has garnered over 450,000 responses from consumers, and the information they gained from those responses was enlightening.“We see a big jump in conversion rate and payment size when people say that they are treated professionally, so we're ecstatic about the results that we're seeing,” Scholl said.Although the call center support team has their own internal scoring system for measuring employee results, “that doesn't necessarily reflect the consumer experience.”These surveys allow Scholl and the leadership team to assess how consumers feel about their call experience without having to have a potentially difficult conversation.“We treat them the best that we can, which then reflects back on us, which then reflects on who that original creditor might have been,” Scholl noted.Subscribe to the Closing the Books podcast today to get the latest news and insights on the debt collections industry.

John Erickson, President and CEO of IC System, believes there's a compassionate way to approach the collection agency business. That model leads to higher recoveries and positive outcomes for clients. A lot in the industry has changed in Erickson's 20-year involvement with collections. Increased regulations, and a re-thinking of the approach, helped reduce some of the more aggressive tactics used in the collections' process. “How we treat people is one of our core values at IC System,” Erickson said. “How we handle all of the people we speak with on the phone - we must treat them with dignity and respect.” Empathy training is something Erickson's employees receive. This type of training helps provide a better understanding of what a consumer might be going through financially. Another differentiator Erickson believes makes a big difference in IC System's success is conducting post-call surveys. “As far as I know, we are one of the only companies in our industry that does this,” Erickson said. “All consumers are given the option of taking a survey at the end of every call.” This approach validates consumer satisfaction with IC's process is working. Erickson admits skepticism from some clients who believe a more aggressive approach will lead to a higher collection rate. “But that is not true,” Erickson said. “Our data proves that. “When we score out our calls and score well on our calls, we collect more money.”

Debt collection isn't a new business. It has evolved dramatically since IC System's founding over 80 years ago. With regulations, technology and a changing economy, organizations need a debt collection partner they can trust. Bryan Campbell, Business Development Manager of IC System, shared his expert advice for those that need help with receivables.“A partnership focus where the agency is an extension of your business is key. It's also important that they have a strategic and clear understanding of your needs and put together a solution to meet them. It's not cookie-cutter,” Campbell said.Companies typically engage an agency when their internal processes aren't working. An uncertain economy and businesses not being able to keep all staff on the job contribute to the issues, especially in healthcare.“Cash flow is critical right now. Providers and businesses are understaffed, or those in the office aren't trained to collect. An agency helps remove this strain and bring in the money needed,” Campbell added.Another important aspect of choosing a provider is technology and its ability to make things easier. IC System offers full capabilities on an online platform. They've also improved workflows by integrating with management software used by physicians, dentists and other organizations.Campbell also noted that credibility and licensure matters.“The U.S. population is very transient. You need an agency that can legally collect in all 50 states,” he stated.He also urged businesses to think about how to measure success in the industry.“Have they been doing this for a long time? Do they have endorsements? Like clients? Technology innovations?,” he said. “These are all good questions to ask.”For more information, visit https://www.icsystem.com/.

Chasing down a debt can be an unpleasant process, but that makes it all the more important to pick the right collection agency.In many ways, IC System Vice President of Client Service Chris Morris said, the collection agency is an extension of your business. While a payment may be delinquent, the relationship between a business and a client is still important.“You selected this collection agency to work on your behalf, and if you're selecting a collection agency that is abusive or is harassing your customers, that's going to reflect negatively on you and potentially create a negative view of your organization from the marketplace,” Morris said.IC System is responsible with its data collection, making sure not to expose phone numbers and addresses that other agencies may not treat as carefully.Morris said one of the best ways to see if a collection agency is the right partner is to review their website. If they have a professional site complete with features like online portals showing the process of cases and easy-to-find information, they're more likely to be responsible when working to recover debt.“Collection agencies generally will contact consumers via the phone and via the mail and via email now, but I think what sets IC System apart is our client service and our commitment to our clients. That's demonstrated through having a sense of urgency, being available to our clients via telephone or email … following up with any requests our clients have is incredibly critical,” he said. “The last thing you want to have is to entrust a significant amount of your revenue with a collection agency partner [where] you don't know what they're doing.”For more information, visit https://www.icsystem.com/.

Working at IC System for the past 15 years, Kristina Gursky, Director of Healthcare Account Management, has learned a thing or two, or 12, about the healthcare space's collections process.And, while the revenue cycle in healthcare is always changing, one thing remains the same: the need for compassion and empathy.Gursky said keeping up with all of the various billing processes and changes during the pandemic is challenging, but she and her team strive to be the go-to for process and regulation changes for IC System's clients.“When things do change, that impacts our clients' patients' billing process, so we're sending out communications with what those changes look like, and we're getting on the phone with our clients, explaining what those changes are, and how they may impact them," she said. "We want to keep them informed, because a law may change in a state they are not doing business in, but that their patient now resides in, and IC System follows the law in which the patient lives.”When it comes to patients, Gursky said no one wants to be sick or injured, and the goal is to help patients satisfy their financial commitments positively and compassionately.“We're trying to get the message of advocacy out there,” Gursky said. “We're patient financial advocates, and we're advocating for a way for that patient to find a resolution.”For more information, visit https://www.icsystem.com/.

To create a winning formula for a compassionate and empathetic approach to the collections' process, Allison Johnson, Training & Development Manager at IC System, knows the secret is in training. A well trained and developed team of collection representatives are the backbone of any collection agency, and Johnson was excited to share her approach.“Our main priority is making sure that the new hires have a solid understanding of the importance of compliance and quality,” Johnson said. “With the collection agency being so regulated, its important new hires understand that we're handling private consumer information. And we also want to provide an excellent consumer experience, so focusing on quality and compliance are our main priorities.”To achieve these quality and compliance results, IC System developed an online e-learning platform to roll out different interactive lessons for the representatives to stay engaged while training. There's plenty of hands-on training in addition to the online tools.Before the COVID-19, pandemic representatives in training could shadow right next to another representative. “That side-by-side training was critical for them to get a good grasp of the type of calls that they're going to be handling,” Johnson said. “But with social distancing, we haven't been able to do that, so we got creative with our team and came up with the virtual shadowing program. We use Microsoft Teams to get this done. Our tenured reps can hop on a Microsoft Teams call and share their screen so the new hires can look at the account that they are working on. The representatives can hear the consumer and the other representative speak on that phone call.” The ability to find creative solutions to crises is part of what makes Johnson's training and development strategies successful.For more information, visit https://www.icsystem.com/.

A healthy and prosperous collection agency needs a recovery management software solution that can put it one step ahead of the competition.Karen Jonas, Senior Vice President of Field Sales for IC System, and Thom Majka, Director of Business Development, DebtNext discussed the partnership between the collection agency and software platform provider and how this bond makes success at IC System possible.“DebtNext software is a platform, a recovery management platform, that brings technology into the credit and collection industries,” Majka said. “Within the industry, we're a leading application that allows us to manage every aspect of account placement securely and recoveries of accounts receivable.”“It's nice to have DebtNext as the middleware company,” Jonas said. “We have about 20 clients that we partner with, and with that, we can work any tier, we can get scorecards, and we know where we are for performance. We do reconciliations every month, so we have the correct balances. That's an advantage. The invoice is automatic through DebtNext. There are so many great things in partnering with them, and it allows us to focus on collections.”Majka recommended that collection agencies work with multiple vendors and review numerous strategies.“We have conversations with our clients to make sure they are working with organizations that bring about the best people and the best systems and processes,” Majka said.And, with competition increasing in the debt collection industry over the past five years, healthy relationships and striving for the best in all areas may very well be the advantage that separates a thriving agency from the rest.For more information, visit https://www.icsystem.com/.

Michelle Dove wears a lot of different hats as a General Counsel and Compliance Officer for IC System. She provides legal advice on many issues that might face the company. Dove shared her thoughts and experiences on compliance and risk management challenges in a collection agency setting. For more information, visit https://www.icsystem.com/.

On the newest episode of Closing the Books, a podcast by IC System - expert in all things debt collection - host Gabrielle Bejarano chats with President and CEO of IC System, John Erickson, about the challenges of debt collection for the previous years, rolling into 2023. The two discuss...1) The impact the past few years of consumers' ability to repay debts has had on the business and IC System's solutions to these challenges2) How IC System has outperformed its competitors using new communication systems despite the consumer payment issue3) What challenges the collection industry will have moving into 2023 and how IC System is well positioned to navigate these challenges“For our clients in 2023, it's going to be important for us to continue to use analytics, continue to use modelling and employ these new tools we have smartly . . . always measuring ourselves against the competition,” said Erickson.Erickson started his career at IC System as a collector, 26 years ago. Erickson has helped grow IC System into the company that it is today and was awarded the Vistage Minnesota IMPACT award in 2017.IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

On this episode of Closing the Books, host Gabrielle Bejarano speaks with T.J. Lee, Director of Operations at IC System. Lee wears many hats at IC System, so he knows a thing or two about debt collection challenges and how inflation has impacted collection agencies. “Coming out of the pandemic, it's definitely been challenging. Says Lee. “(During the pandemic), people were paying down old debts because they had that disposable income to do so, but I think . . . after being cooped up for a couple years, people want to get out . . . They want to go travel, they want to have fun, they want to go to restaurants or concerts, and all that stuff costs more money, and . . . more importantly, your basic needs are costing more, too.”This episode covers these issues and more, including: How regulation has impacted the way collection agencies work. Changes in how collection agencies interact with consumers. How IC System leverages its extensive 85 years of experience to navigate through change effectively. Regarding how inflation changes consumer behavior, Lee added “with interest rates being higher out there for mortgages and things like that, there isn't as much pressure for the consumers to be as concerned about their credit scores, because they're not taking out as many loans.” In a landscape where consumers are less aware of their credit standing, collection agencies have to keep up with changing habits and adapt to new regulations as they get implemented. T.J. Lee is the Director of Operations at IC System. Having been at the company for over nine years, he was previously a Supervisor and Operations Manager at IC System. He received his Bachelor of Business Administration from North Dakota State University.

Consumer debt is steadily climbing due to trends such as pandemic recovery (e.g., rent recouperation), fear of recession, healthcare (e.g., pushing more healthcare costs onto patients), and other current trends. Smaller businesses will be impacted more due to their lack of resources and training to collect this increased debt. In a new episode of the podcast "Closing the Books," host Eric Johannes interviewed Lee Brockney, General Manager of Main Street Recoveries at IC System. The two talked about how IC System used innovation and 85 years of debt recovery experience to create their new offering, InstiCollect, which is aimed at helping small businesses with less than 50 monthly debts quickly and easily get started on recovering their outstanding revenue.Johannes and Brockney also discussed:Organizations such as Dental, Health and Rent Recovery that would benefit from using InstiCollectHow clients can start collecting debts in about 15 minutesHow IC System automated tools and online aids make it easy to learn the platform quickly"InstiCollect is a brand-new product here at IC System… Essentially, it is a standardized, streamlined, all-in-one collection product… What we've done is take the most productive IC processes found across multiple IC product lines and package them into one simple-to-use product that really can have our clients live and submitting debts within minutes of making the decision to buy," said Brockney. Lee Brockney is the General Manager of Main Street Recoveries at IC System. He's held several roles at IC System over his almost 20-year tenure, with advancing responsibilities. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

On the newest episode of Closing the Books, a podcast by IC System, IC System's Bart Shea, VP of Client Development shares his personal journey in the industry, his passion for the HFMA, and his debt collection industry insights with host Gabrielle Bejarano.The two discuss...1) Shea's journey in the collections industry2) Why participation in the HFMA is so important3) Where Shea sees debt recovery going in 2023 and beyond“It's near and dear to my heart with making sure that our industry is up to speed on the changes in healthcare, whether that be from a compliance standpoint or just an actionable standpoint...but I think that the HFMA is truly one of the good vehicles that us as service providers...can actually have really good conversations with prospects that attend HFMA shows,” said Shea. Shea, VP of Client Development at IC System, has been with the company for over two years as the VP of Client Development. He holds over two decades of experience in healthcare receivables management and previously spent time as the VP of Client Development - West for MedAssist and the National Director of Client Development for RevSolve, Inc. He is a HFMA Certified Revenue Cycle Representative (CRCR) and current President of the HFMA Arizona Chapter.IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

With the growing world of healthcare and rapidly changing federal, national, and local regulations, it's a priority that healthcare professionals and facilities stay up-to-date on current industry trends, particularly as it pertains to debt and finances. That is the fundamental purpose of the Healthcare Financial Management Association, or HFMA. In this episode of the podcast "Closing the Books," host Gabrielle Bejarano interviewed Mary Prendergast, the VP of Business Development at IC System, who is also the president of the Virginia-Washington, D.C., Chapter of HFMA. The two talked about what the HFMA does, how the pandemic impacted healthcare costs, and why the HFMA is a beneficial organization to the healthcare industry.Bejarano and Prendergast also discussed:1. Educational opportunities HFMA offers to help healthcare professionals better understand changes in the industry2. Why HFMA is a driving force in shaping healthcare systems today3. How HFMA benefits individual member's careers"What the HFMA does, it really sets an industry standard for healthcare today—really more so in reimbursement and finance. What's going on today in healthcare is very difficult with labor costs, labor shortages, and staffing. What's really hot today is value-based care and price transparency and then technology,” said Prendergast. In addition to helping members keeping up-to-date, applying changing rules and regulations to revenue collection efforts is key. Continues Prendergast “In order to survive and get reimbursed and keep your lights on and a roof over your head, you have to be reimbursed, whether from the patient or the payers, which are the insurance companies. They have to pay you, and it takes a team of experts to make sure that they're coding and getting reimbursed for all of this. They also use, again, a lot of technology partners to make sure they're getting real-time estimation on cost and reimbursement." Mary Prendergast is the VP of Business Development at IC System. For the past two years, she has served as president of the HFMA Virginia-Washington DC Chapter, which has approximately 3,000 members out of the national 90,000. She is also a graduate of Radford University.IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

IC System, a family-owned and nationally recognized debt collection agency with 85 years of experience, can effectively help you recover revenue and ease your accounts receivable burden. Whether you're a first-time client or have previously worked with other agencies, IC System simplifies the process of sending accounts to collections. On today's episode of Closing The Books, host Eric Johannes speaks with Nate Welbig, Director of Operations at IC System, about his journey to a career in collections and how IC System's core values of Innovation, People, Integrity, Performance and Pride are demonstrated within the organization. The two discuss 1. General public impressions/misimpressions about debt collection 2. How IC System uses innovation and its people to continually evolve and perform 3. Why Tax season and maintaining good debtor relations are important"From the operations standpoint . . . it is a little different today, different resources different tools, regulations have changed" said Nate Welbig. IC System continually innovates and trains its employees to stay current with, and take advantage of, these changes. Nate Welbig, Director of Operations at IC System, graduated from the University of St Paul, Minnesota, United States. He has been with IC System for 14 years now. He is always driving innovation of debt collection infrastructure and supporting employees to ensure the company performs at a consistently high level. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

IC System, a family-owned and nationally recognized debt collection agency with 85 years of experience, can effectively help you recover revenue and ease your accounts receivable burden. Whether you're a first-time client or have previously worked with other agencies, we simplify the process of sending accounts to collections. On today's episode of Closing The Books, host Eric Johannes speaks with Nate Welbig, Director of Operations at IC System, about his journey to a career in collections and how IC System's core values of Innovation, People, Integrity, Performance and Pride are demonstrated within the organization. The two discuss General public impressions/misimpressions about debt collection How IC System uses innovation and its people to continually evolve and perform Why Tax season and maintaining good debtor relations are important IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Bryan Campbell, Business Development Manager at IC System talks about the options for affordable debt collection services. Key points: IC System offers an online solution based approach to debt collection. Within 24 hours InstiCollect can have debt monitoring activity. InstiCollect allows for credit reporting, skip tracing and more. IC System strives to make debt collection better. With innovation being one of the core values, IC System identified a business segment that was underserved and created a product to take what they've done for 80+ years to address this segment in a new, modern way. This new method, called InstiCollect, is a two-phased approach that allows members to get going within 24 hours - as soon as debt is placed in the system through IC System's newly enhanced client portal system. InstiCollect is available for all industries from property managers to dental practices, small physician groups, veterinarians, and law firms. Its goal is to fit across the board within each industry. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

The most expensive car ride someone may take in their life is an ambulance ride, which racks up to a whopping average of 1,200 dollars. Most individuals probably cannot or will not pay that bill outright, meaning it will serve as a form of debt to them.So, how is credit debt any different from more “voluntary” types of debt and how does it impact patient credit scores?On today's episode, Host Gabrielle Bejarano speaks with Michelle Dove, Chief Corporate Counsel and Chief Compliance Officer at IC System, to talk about recent and upcoming changes in credit reporting in the healthcare sector and how this will impact patients. Bejarano and Dove also discussed…1. How paid healthcare debt will no longer be credit-reported2. Medical account reporting time frame changes and the impact on patients and the industry3. The pending change in the debt threshold for credit reportingDove elaborated on how the current and upcoming changes will impact patients. “There are positives—the patient gets more time, but I think the negative is it takes away one method of communicating with the patient to help them understand their account,” she stated.Dove is Chief Compliance Officer and General Counsel at IC Systems and ensures documentation complies with federal, state, and local laws. She has previous experience as an attorney at Bassford Remele, Dorsey & Whitney LLP, and Rider Bennet, LLP. Dove has a B.A. in Political Science and Psychology from the University of Michigan and earned her J.D. from the University of Minnesota Law School.IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Every day, more and more cases arise within the utility industry where customers find themselves with average balances increasing over 25%, especially given current economic indicators of inflation. Energy bills are piling up, and consumers are disconnecting as their bills become more difficult to pay off. For debt collection agencies, the longer the disconnected account goes without paying their debts, the more difficult it is to get accounts submitted before tax season. So, what are some of the strategies to help companies get their accounts receivables in order? On this episode of Closing the Books, host Eric Johannes talks with Senior VP of Business Development, Karen Jonas about what tax season means for debt collection agencies within the utility sector. Karen offers insightful strategies geared toward maximizing incentives for both consumers and companies. This episode features insights about:• The economic climate resulting in consumers' inability to pay utility debts.• Understanding the importance of tax season and getting accounts submitted before tax season.• Adopting strategies to maximize the accounts receivable process for utility companies.“The tax season is like a retail season. So, we want to ensure that we're staffed up for the accounts we do have on file. We're working out a strategy, right? So, we have our analytics looking at it. What kind of letters should we send out? Should we do a settlement, campaign, emailing, texting, or things like that we look at,” said Jonas.Karen Jonas has been with IC System for 27 years with 20 years of experience within the utility industry. Jonas has helped many clients submit debts, collect on critical accounts, and drive revenue. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

When it comes to the debt collection industry, many consumers who have been affected by past due debt have had negative experiences with the debt collectors contacting them. After the financial crash of 2008, the federal government created the Consumer Financial Protection Bureau (CFPB) to regulate the debt collection industry and protect consumers from unfair collection practices.IC System, founded in 1938 and 2021 winner of the Better Business Bureau's Torch Awards for Ethics, is dedicated to working with consumers in a way that assists them in addressing their debts in an ethical and kind manner. Additionally, the company works diligently to ensure the organization stays up-to-date in understanding and complying with federal and state regulations. Michelle Dove, Corporate Counsel and Chief Compliance Officer, IC System spoke with Tyler Kern about the importance of compliance and security measures within the debt collection industry. And, with 20 years' experience working for and with IC Systems, Dove's expert understanding of compliance is readily apparent as she explains a variety of issues at a level understandable to compliance professionals and business leaders alike. So why is compliance such a hot topic? Dove noted that “it's front of mind for a lot of business leaders right now because the regulatory environment, I'd say is pretty intense under this administration there is a lot more activity than we saw with the prior administration.” With the increased activity, debt collectors need to make sure they stay current frequently released new rules, address issues quickly, and deal with a rise in investigations by regulatory bodies.‘On the security end, we're hearing every day about cyber-attacks and cyber criminals and so this is certainly a topic that's keeping business leaders up at night and giving them sweaty palms,” said Dove. As a business partner, IC System understands the importance of ensuring compliance with federal and state regulations to be a good business partner and keep both IC System's and its clients safe.As for the CFPB, Dove explained that this particular branch of government was created to protect consumers and rid the debt collection industry of bad practices that negatively affected consumers. Among the many rules that Dove mentions and simplifies for guests' understanding include the FTCPA (must be nice to consumers), the TCPA (must have consumers' permission to contact them on their cell phones), and FCRA (which requires companies to follow fair credit reporting requirements. And this barely touches the federal rules and doesn't even begin to address rules that are specific to each of the fifty states. So, what does Dove think of the CFPB?“Does the CFPB make life hard for us from time to time – yes. Is it entirely a bad thing – no, I don't think so. I think for a company like IC System, they give us the rules, we follow the rules, and everyone can get along well.”IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Lee Brockney is currently the Manager of Financial Planning and Analysis Manager at IC System. After 19 years with the company, he wears many hats today. He's in charge of general project pricing, financial forecasting, cost analysis, budget, and other ad-hoc reporting. He's also an active Chairman of the Innovation Committee. He's poised to discuss the innovation within IC System and how they encourage employees to make small changes to optimize their processes.As a collection agency, they work in an incredibly competitive field. “When you combine the pricing pressure with the regulation, it's ripe for innovation. If you're not figuring out ways to do things cheaper, smarter, not harder, you're going to be in a tough spot,” said Brockney. In 2018 IC Systems launched the Innovation Committee. It's an effort to support employees to feel ownership over processes and company changes. “We're always pushing process improvement. How can I be better tomorrow with simple changes?” said Brockney. Five to ten members meet quarterly to review every idea submitted. Employees can add their suggestions to a portal. Each quarter the committee selects the idea that is beneficial to all. IC System announces the winner and presents them with a $500 gift card and IC Innovation branded swag. The four winners are invited to the Annual President's Club Award Ceremony, honoring peer-nominated outstanding employees. “The peer aspect gives credence to the recognition,” noted host Tyler Kern.In 2019 the innovations we're focused on ecological changes. The company installed water bottle refill stations, evaluated and upgraded current energy processes and lightbulbs, and invested in solar energy. There was a company-wide consensus to improve the company's relationship with the environment. In 2020, when employees began working remotely, the innovation team was inundated with new submissions. Employees were eager to find ways to connect and maintain the IC System Culture. “One idea that came out was ‘IC Clubs,'” explained Brockney. It connected people outside of work again. Today, there are still active members of clubs, including “a Movie Club, Book Club, Cooking Club, Golf Club,” said Brockney.Primarily, collectors make up about 60% of the IC System workforce. The innovations are little changes. “We're dealing with ideas around ways we can make our collections systems better, little tweaks and ideas to make their jobs better,” said Brockney. “Everything we do, we try to do it in a way that's best for those we interact with.”IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

The utility industry is one of the many industries IC System helps collect on past-due accounts. Karen Jonas, Senior Vice President of Business Development for IC System, spoke with Closing the Books' Tyler Kern on how to help customers get back on track with their utility payments. IC System works with a plethora of utility companies of all size, like electric, gas, municipalities, or regulated or dysregulated. When some customers get behind on payments, staying on top of the accounts receivable (AR) can prove challenging for utilities after the winter months. Jonas' advice for these companies? As soon as the all-clear is given to disconnect an account, input that information into IC System as early as possible. “There are some utilities that will wait at least 60 or even 90 days before sending the accounts to a collection agency after they disconnect,” Jonas said. “The longer you wait, the tougher it is to go ahead and collect that money and get the return back to the utility.” Compounding the challenges for utility companies was the pandemic since many states extended their moratoriums on debt collections. “We had a few of our clients where… they were finally able to disconnect, and what took place was their AR — that was usually pretty normal for them — were four times the amount,” Jonas said. “It really was tough for them.” IC System works with over 120 different utilities, and they have different account stages they collect on from primary to warehouse. Jonas estimated that around 35% of this business are late-stage accounts, meaning two years or older. And these late-stage solutions can provide success on accounts that utilities may have given up on collecting. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Returning guest Michelle Dove, Chief Compliance Officer and General Counsel for IC System, sits down with host Tyler Kern to discuss the changes implemented by Regulation F and how they've effected IC System as well as the broader debt collection world. “I am mainly tasked with understanding the law that applies to the collection industry and making sure that our practices are adhering to the law,” said Dove. So when it comes to understanding Regulation F, Dove is a go-to for IC System. “Regulation F is a series of rules that the CFPD introduced in late 2020 and 2021,” after becoming effective in 2021, the regulations supplement “the FDCPA,” said Dove. Dove said that while some things in the regulations aren't her favorite, “It really gives debt collectors more guidance…it really is a roadmap for IC…it tells us how to comply.” Regulation F effects how often you can call and how to report collection, among other things. The new 7-7-7 rule means that collectors can call 7 times within a 7 day period and if they talk to a consumer, then, “we can't call them again for 7 days after that,” explained Dove. Credit reporting under Regulation F has also changed, “Now, in order to credit report an account, you need to communicate with the consumer first and so, that would be sending a letter,” said Dove. For IC System, “The most focus went on changes that impact out initial notice.” While the notification was standardized before, the model sample notice given through Regulation F changed the format and information needed to adhere to this new regulation. And while bigger agencies might have incorporated changes more quickly, IC did not have any delays in service throughout the transition, just more disputes engaged from that initial notice requirement across the board. “It's still a learning process,” said Dove, but learning always means improvement. IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

In general, the debt collection industry suffers from a poor reputation. And the idea that a consumer in debt could describe their experiences working with a debt collection agency as positive is strange tomany people. Closing the Books host Tyler Kern spoke with Brian Eggert, Marketing Specialist at IC System about these various perceptions and how to best set expectations when working with a debt collection company.Eggert began working at IC System in 2001 as a part-time debt collector to help pay for college. Since then, he has moved through a variety of positions leading to a depth of experience and understanding of the debt collection industry that few people have. His experience includes working in client services, RFP writing, and marketing with involvement in every department from operations to accounting to the mailroom. At present, he is a marketing generalist writing company content including websitecopy, blogs, social media postings, and internal business communications.The conversation kicked off with a look into the debt collection industry prior to the creation of the Consumer Financial Protection Bureau. Although IC System has a proven path of ethical collecting, “the collection industry(as a whole)used to be a littlewild and less regulatedprior to the arrival of the Consumer Financial Protection Bureau,” said Eggert.Eggert spoke about his company's focus on creating a positive consumer experience, one of the many reasons for its success. IC System surveys approximately 15,000 consumers/month and averages a 95% success rate in consumers being happy with how their issue was resolved. Not only is having such a high success rate a rarity within the industry, but the company takes it one step further by investigating the other 5% to find out what did not go well. This intriguing look into the debt collection industry continues to examine how IC System has evolved to meet evolving rules and regulations, measures call quality, addresses myths of working with an agency, benefits of outsourcing debt collections, recovery rates, and much more.The bottom line at IC System, they are prepared to help consumers resolve financial issues and assist clients in recovering lost business. “We are not just there to collect money,” said Eggert.IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

A collections agency that is nationally licensed ensures compliance within each state it operates. Chris Morris, VP of Client Success at IC System, spoke with Tyler Kern about the ins and outs of being nationally licensed in the collections industry.Becoming a nationally licensed collections agency is a complex, intricate process that can take a year. And with the sensitive financial transactions at stake, states need to maintain a high level of confidence that the agency in question abides by all proper regulations.IC System handles its licensing in-house and ensures the correct handling of each state's requirements for operation. “There are vendors that collection agencies can hire to do the licensing for them,” Morris said. “But we choose not to do that.”IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

In this episode of the "Closing the Books” by IC System, host Eric Johannes, Director of Marketing at IC System speaks with Karen Jonas, Senior VP of Field Sales at IC System, and Frank Ellenberger, Director of Strategic Initiatives at Debtnext Software. IC System recently became the first vendor certified for DebtNext under their new accreditation program - dPlat. The discussion provides insights into DebtNext's recovery management platform, a middleware software sitting between clients' billing systems and collection partners.Covered in this conversation are:• A DebtNext platform overview: Ellenberger describes DebtNext's middleware platform, highlighting its role in automating the movement of accounts throughout the billing cycle. The platform manages various scenarios, from call campaigns for active accounts to legal workflows for accounts in collection. It ensures compliance, tracks balances, and offers comprehensive reporting to help clients manage the entire recovery process.• IC System's Relationship with DebtNext: Jonas discusses IC System's long-standing relationship with DebtNext, spanning several decades. IC System appreciates the transparency and efficiency provided by DebtNext's platform. They leverage scorecards to monitor performance weekly, facilitating proactive management. The reconciliation process, invoicing, and smooth communication contribute to the success of their collaboration.• DebtNext Accreditation Program: Ellenberger introduces DebtNext's new accreditation program, aiming to formalize and substantiate recommendations for collection agencies. The program evaluates partners in areas such as integration, authentication, remittance management, and SOC 2 compliance. IC System, as the first accredited partner, highlights the rigorous process involving security, compliance, and on-site audits. The accreditation aims to set a high standard in the industry, providing clients with peace of mind and showcasing partners' excellence.“ . . . IC System is one of the first companies that come to mind, of folks we know we can rely on that have demonstrated excellence in our platform” said Ellenberger.

IC System has over 85 years in the collection business, with over 50 years of working with government clients. In this podcast, we explore the significance of reputable debt collection agencies like IC System in the government sector, especially how their expertise and resources benefit government organizations. From small municipalities to large federal entities, every segment within government systems requires effective collections management in line with regulatory requirements and diverse debt scenarios. IC System's Operations Manager, Lyn Krenz, highlights their unique advantage as former floor collection agents who understand what it takes to work directly with individuals or businesses struggling with outstanding balances. This foundational experience enables IC System to better serve their clients by empathizing with debtors' concerns while effectively managing collections. The success of a collections agency relies on various factors such as automated systems tailored to individual state or municipality requirements. IC System also provides comprehensive training programs for certified financial representatives who adhere to specific guidelines imposed by each agency they work with.IC System's experienced team ensures compliance with federal guidelines regarding the handling of sensitive financial information. By maintaining secure systems and protocols, IC System provides peace of mind to clients and protects the privacy of clients and debtors. Moreover, support materials and online tools are accessible for clients' convenience. Smaller municipalities especially benefit greatly from these tools when analyzing up-to-date data and information about collection accounts. IC System's nationwide presence is instrumental when dealing with debtors who may have moved out of the state where they initially owed taxes or fees. Being licensed across all 50 states allows them to provide continuous service regardless of geographical constraints faced by other local collection agencies.Smaller government entities often lack resources or staffing capabilities to handle collections internally. Outsourcing the collection process allows municipalities to allocate their limited staff resources toward fulfilling other organizational goals while relying on established collections agencies like IC System to enhance their revenue streams. IC System prioritizes customer experience. Their goal is not only debt recovery but also educating debtors about available options and long-term benefits of resolving outstanding debts promptly. By conducting independent surveys, IC System maintains an exceptional 98% satisfaction rate among consumers who have interacted with their representatives.In summary, agencies can play a crucial role in helping government entities recover outstanding debts, ensuring the financial stability of municipalities, counties, and even federal agencies. With robust support systems, national reach, secure protocols, and adherence to regulatory requirements at both state and federal levels, reputable collections agencies provide valuable assistance in strengthening government organizations' financial stability. For more information, see https://www.icsystem.com/industries/government/

On this edition of "Closing the Books" by IC System - your trusted subject matter expert in all things debt collection - The conversation delves into the challenges of handling past-due debt for small businesses and how even a single delinquent client can significantly affect revenue. They highlight the complexities of managing these situations, especially when it comes to maintaining both the business's reputation and the client relationship. They also talked about the reasons small businesses might be reluctant to collect debt including potentially damaging customer relationships. Small business owners have a lot to do to keep their business running effectively and chasing outstanding debt takes time and experience – especially in regards to ensuring all actions are within regulations.Both guests discuss the benefits of using an experience and ethical debt collection agency like IC System.

In the most recent episode of the "Closing the Books” with IC System, host Gabrielle Bejarano welcomed Al Oberdick, a district sales manager with decades of experience at IC System. Al's journey into debt collections began after a background in social work. He joined IC System with the intention of maintaining an ethical approach to sales. IC System's core values and personalized approach aligned well with Al's principles. The conversation went on to highlight the evolution of collection services, emphasizing the blend of automation and personal touch for successful debt recovery. They talked about how in post-pandemic operations, some businesses were hesitant to engage in collections due to the difficult time their clients had already experienced already during Covid. Al shared an example of IC System's ability to tailor collection solutions, talking about one client whose only concern was getting loaned equipment back without any punitive financial measures. The podcast also delves into IC System's InstiCollect, an online platform designed for clients with smaller account volumes. Finally they focused on what has kept Al working at IC System for decades given the bad reputation the collections industry has in general. Al feels that what sets IC System apart is their dedication to respectful collections and a personalized approach. He iterated how this family-owned company's unique values and open-door atmosphere make IC System the ideal place to work. These values flow into IC System's personalized relationship with every customer to create a great collection experience.

In the insightful Episode 39 of "Closing the Books," Michelle Dove, IC System's Corporate Counsel and Chief Compliance Officer, delves into the intricate realm of healthcare debt collection amidst the backdrop of evolving regulations. Dove highlights the imperative of staying abreast with the latest regulatory changes, such as updates from the Consumer Financial Protection Bureau and the introduction of the No Surprises Act, underscoring the challenges and necessities of compliance for healthcare providers. The conversation further explores how IC System is at the forefront of adapting to these changes, employing strategies like advanced electronic communication and a nuanced understanding of patients' propensity to pay. This approach not only aids in enhancing the effectiveness of debt recovery efforts but also emphasizes IC System's commitment to ethical practices and maintaining respectful patient relationships. Dove's expertise offers valuable insights into navigating the complexities of healthcare debt collection with a focus on compliance, efficiency, and compassion. "It's hard to collect medical debt, but that doesn't mean it's impossible... we've been very successful in doing that. . . it's our job to come up with new strategies and new techniques", says Dove. This episode is a must-listen for healthcare organizations seeking to manage debt collection adeptly within the current legal framework, providing essential strategies and underscoring IC System's role as a proactive, informed partner in the industry.

In the insightful Episode 39 of "Closing the Books," Michelle Dove, IC System's Corporate Counsel and Chief Compliance Officer, delves into the intricate realm of healthcare debt collection amidst the backdrop of evolving regulations. Dove highlights the imperative of staying abreast with the latest regulatory changes, such as updates from the Consumer Financial Protection Bureau and the introduction of the No Surprises Act, underscoring the challenges and necessities of compliance for healthcare providers. The conversation further explores how IC System is at the forefront of adapting to these changes, employing strategies like advanced electronic communication and a nuanced understanding of patients' propensity to pay. This approach not only aids in enhancing the effectiveness of debt recovery efforts but also emphasizes IC System's commitment to ethical practices and maintaining respectful patient relationships. Dove's expertise offers valuable insights into navigating the complexities of healthcare debt collection with a focus on compliance, efficiency, and compassion. "It's hard to collect medical debt, but that doesn't mean it's impossible... we've been very successful in doing that. . . it's our job to come up with new strategies and new techniques", says Dove. This episode is a must-listen for healthcare organizations seeking to manage debt collection adeptly within the current legal framework, providing essential strategies and underscoring IC System's role as a proactive, informed partner in the industry.

In this episode of the "Closing the Books” by IC System, host Eric Johannes, Director of Marketing at IC System speaks with Karen Jonas, Senior VP of Field Sales at IC System, and Frank Ellenberger, Director of Strategic Initiatives at Debtnext Software. IC System recently became the first vendor certified for DebtNext under their new accreditation program - dPlat. The discussion provides insights into DebtNext's recovery management platform, a middleware software sitting between clients' billing systems and collection partners.Covered in this conversation are:• A DebtNext platform overview: Ellenberger describes DebtNext's middleware platform, highlighting its role in automating the movement of accounts throughout the billing cycle. The platform manages various scenarios, from call campaigns for active accounts to legal workflows for accounts in collection. It ensures compliance, tracks balances, and offers comprehensive reporting to help clients manage the entire recovery process.• IC System's Relationship with DebtNext: Jonas discusses IC System's long-standing relationship with DebtNext, spanning several decades. IC System appreciates the transparency and efficiency provided by DebtNext's platform. They leverage scorecards to monitor performance weekly, facilitating proactive management. The reconciliation process, invoicing, and smooth communication contribute to the success of their collaboration.• DebtNext Accreditation Program: Ellenberger introduces DebtNext's new accreditation program, aiming to formalize and substantiate recommendations for collection agencies. The program evaluates partners in areas such as integration, authentication, remittance management, and SOC 2 compliance. IC System, as the first accredited partner, highlights the rigorous process involving security, compliance, and on-site audits. The accreditation aims to set a high standard in the industry, providing clients with peace of mind and showcasing partners' excellence.“ . . . IC System is one of the first companies that come to mind, of folks we know we can rely on that have demonstrated excellence in our platform” said Ellenberger.

This video highlights one of the core values that drives IC System - People. Hear from our team members as they share their experiences and insights on how IC cultivates a family-like atmosphere built on genuine human connection.Key takeaways:People come first: IC focuses on building strong relationships, both with customers and within its team.Creating a family atmosphere: Remembering birthdays, celebrating milestones, and genuinely caring for each other fosters a strong sense of belonging.The power of human connection: Building genuine relationships leads to better business outcomes and a more fulfilling work environment.Join us on this journey to discover how IC Systems creates a culture where people are genuinely valued and appreciated.

IC System has over 85 years in the collection business, with over 50 years of working with government clients. In this podcast, we explore the significance of reputable debt collection agencies like IC System in the government sector, especially how their expertise and resources benefit government organizations. From small municipalities to large federal entities, every segment within government systems requires effective collections management in line with regulatory requirements and diverse debt scenarios. IC System's Operations Manager, Lyn Krenz, highlights their unique advantage as former floor collection agents who understand what it takes to work directly with individuals or businesses struggling with outstanding balances. This foundational experience enables IC System to better serve their clients by empathizing with debtors' concerns while effectively managing collections. The success of a collections agency relies on various factors such as automated systems tailored to individual state or municipality requirements. IC System also provides comprehensive training programs for certified financial representatives who adhere to specific guidelines imposed by each agency they work with.IC System's experienced team ensures compliance with federal guidelines regarding the handling of sensitive financial information. By maintaining secure systems and protocols, IC System provides peace of mind to clients and protects the privacy of clients and debtors. Moreover, support materials and online tools are accessible for clients' convenience. Smaller municipalities especially benefit greatly from these tools when analyzing up-to-date data and information about collection accounts. IC System's nationwide presence is instrumental when dealing with debtors who may have moved out of the state where they initially owed taxes or fees. Being licensed across all 50 states allows them to provide continuous service regardless of geographical constraints faced by other local collection agencies.Smaller government entities often lack resources or staffing capabilities to handle collections internally. Outsourcing the collection process allows municipalities to allocate their limited staff resources toward fulfilling other organizational goals while relying on established collections agencies like IC System to enhance their revenue streams. IC System prioritizes customer experience. Their goal is not only debt recovery but also educating debtors about available options and long-term benefits of resolving outstanding debts promptly. By conducting independent surveys, IC System maintains an exceptional 98% satisfaction rate among consumers who have interacted with their representatives.In summary, agencies can play a crucial role in helping government entities recover outstanding debts, ensuring the financial stability of municipalities, counties, and even federal agencies. With robust support systems, national reach, secure protocols, and adherence to regulatory requirements at both state and federal levels, reputable collections agencies provide valuable assistance in strengthening government organizations' financial stability. For more information, see https://www.icsystem.com/industries/government/

On this edition of "Closing the Books" by IC System - your trusted subject matter expert in all things debt collection - The conversation delves into the challenges of handling past-due debt for small businesses and how even a single delinquent client can significantly affect revenue. They highlight the complexities of managing these situations, especially when it comes to maintaining both the business's reputation and the client relationship. They also talked about the reasons small businesses might be reluctant to collect debt including potentially damaging customer relationships. Small business owners have a lot to do to keep their business running effectively and chasing outstanding debt takes time and experience – especially in regards to ensuring all actions are within regulations.Both guests discuss the benefits of using an experience and ethical debt collection agency like IC System.

In the most recent episode of the "Closing the Books” with IC System, host Gabrielle Bejarano welcomed Al Oberdick, a district sales manager with decades of experience at IC System. Al's journey into debt collections began after a background in social work. He joined IC System with the intention of maintaining an ethical approach to sales. IC System's core values and personalized approach aligned well with Al's principles. The conversation went on to highlight the evolution of collection services, emphasizing the blend of automation and personal touch for successful debt recovery. They talked about how in post-pandemic operations, some businesses were hesitant to engage in collections due to the difficult time their clients had already experienced already during Covid. Al shared an example of IC System's ability to tailor collection solutions, talking about one client whose only concern was getting loaned equipment back without any punitive financial measures. The podcast also delves into IC System's InstiCollect, an online platform designed for clients with smaller account volumes. Finally they focused on what has kept Al working at IC System for decades given the bad reputation the collections industry has in general. Al feels that what sets IC System apart is their dedication to respectful collections and a personalized approach. He iterated how this family-owned company's unique values and open-door atmosphere make IC System the ideal place to work. These values flow into IC System's personalized relationship with every customer to create a great collection experience.

IC System stands out with its distinctive culture, demonstrated through the assignment of dedicated, industry-experienced personnel who possess a profound understanding of clients' specific industries, ensuring effective communication and support for both consumers and clients throughout the debt collection process while upholding respect for all parties involved. They place great emphasis on innovation, continuously seeking to enhance their services for existing clients, while integrity remains at the forefront of their culture. With a resolute commitment to making collections better, they are well-prepared to assist in resolving accounts receivable challenges effectively. For more information, visit https://www.icsystem.com/.