1 / 14

Best Practices in Billing and Collections

Best Practices in Billing and Collections. Ohio Association of Public Treasurers October 3-5, 2007. Focus on Free “Add on fee” collections and other innovative partnerships. Traditional Collections Models. 1. Internal Systems

Jims
Download Presentation

Best Practices in Billing and Collections

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Best Practices in Billing and Collections Ohio Association of Public Treasurers October 3-5, 2007

  2. Focus on Free “Add on fee” collections and other innovative partnerships

  3. Traditional Collections Models 1. Internal Systems 2. Contingency fee or pay per account placed using TPA (Third Party Agency) 3. Bad Checks

  4. Current models and the future • Ohio law for courts • Ohio law for County Treasurers • Local Ordinances

  5. Cons about AR Agencies • More than a request for payment (credit reporting, garnishments and liens) 2. Agencies will sue, if authorized by client 3. Common Reputation 4. Government side of bookkeeping

  6. Pros in using third party agencies for account receivables • Everybody pays a fair share • Solution to cost increasing faster than revenue • Resources and technology savvy of TPAs • Lack of complaints

  7. Concerns of some government attorneys • Political: people think this is my job • Concern about TPA atty. suing for govt. • Is there precedent for this process? • Doesn’t this violate the Fair Debt Collection Practices Act (FDCPA)?

  8. What is the legal mechanism? 15USC1692f _____________________________________ _____________________________________ _____________________________________

  9. Benefits of “Add on” Collection Fee? • Not lose any of principle balance owed • Government gets paid in full, FIRST! • Avoid falling behind SOP of the future • Threat of add on fees will decrease bad debt

  10. How does the process work?

  11. Latest Payment Processing Options • Online Bill Pay • Pay over the phone • Bad check collection

  12. Other cutting edge tools

  13. Contact Information Dan Hardwick, RBC Inc. P.O. Box 1548 Mansfield, OH 44901 800-723-6196 ext. 236 dhardwick@rbccollect.com

More Related