In the healthcare industry, payment variance refers to the amount of difference between an expected payment amount due to be received and the actual amount paid into the account. Sometimes, this is called “underpayment.” However, in fact, underpayment is just one form of payment variance since this term defines a broad spectrum of payment scenarios that result when received payments differ from the expected sum. However, regardless of the type of payment variance, the fact remains that minimizing it is...

If you are running a business, you’ll always be searching for ways of saving more money while increasing the company’s cash flow and generating more sales. However, there is a way of doing all three things at once by switching to an electronic accounts receivable solution. Integrating all the key functions of managing accounts into a single online platform, it becomes possible to eliminate the time-consuming task of manual invoicing together with the ongoing problem of searching for unpaid amounts by...

Like most, you probably have no clue what TLS means or does, and only care if it impacts your business. Hopefully your IT Team has phased out older hardware and made necessary software updates but if not, you can’t wait until June 30^th.  Starting in late January, some online services will begin temporarily shutting off TLS 1.0/1.1 access so those still using this will realize it and hopefully make necessary changes.

For the owners of small businesses, the concept of ARM (Accounts Receivable Management) can be quite confusing. However, without addressing the issue, revenue flow can slow down or even stop completely, leading to financial difficulties for the company. So, why exactly does ARM matter so much, and could using an account receivable management company be the solution to simplifying matters?

For landlords, Community Association Managers (CAM), HOAs, and property management companies of any kind, finding additional payment channels that make the process of placing on-time monthly rent, dues and fee payments more attractive is an elusive, but quite effective way of improving the overall property management payment processing system..

While credit unions have a key role to play in the modern financial world and have a lot to offer their members, one of the problems that they have faced in recent years is attracting new and younger members. Traditionally popular with older people, credit unions have struggled over the last decade to encourage Millennials to sign up for their services. Faced with the possibility of an aging membership, it has become clear that credit unions must find a way to adapt to the needs and demands of the 21st...

Stress levels are high in any medical practice, and that doesn’t just mean patients who have concerns about their health and well-being. Administrative teams in healthcare organizations must not only balance their everyday workflow and office tasks with patient scheduling but must keep on top of payment collections and invoices. Not only that, but all these financial tasks are governed by a raft of laws, procedures, and regulations that complicate matters further. Payment processing for healthcare...

Over a fifth of all small businesses have admitted to struggling with late customer payments, and two-thirds of owners find that as many as 10 percent of customers never pay their bills at the correct time. This leads to a host of problems, especially when it comes to family businesses and new small startups that need regular cash flow to stay afloat. The good news, however, is that online payment business solutions could be the ideal answer to the problems experienced by small companies.

When starting up any new small business, it can be an exciting time for the owner, but it can also be a worrying one. There are many common roadblocks that new business owners face. And, if these dilemmas cannot be overcome rapidly, they can quickly lead to the downfall of the fledgling company. If you have recently launched your own small business and want to find some ways to deal with the problems that you are facing, here are some of the frequently experienced issues and how to take action to resolve...

A recent study carried out by TransUnion has revealed that the Millennial generation is officially the slowest paying of all time. In fact, the research proved that almost three-quarters of all Millennial patients failed to pay their balances for healthcare received on time and in full, with some only making partial payments, and some failing to pay any of the money that they owed at all. This clearly means that healthcare organizations need to adapt to the needs of this new and up-and-coming generation...