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HOSPITALS SHOULD BE DOING MORE TO PROTECT CONSUMERS FROM LARGE MEDICAL DEBTS: UNION PRESIDENT
- The state of New Jersey is not doing enough to protect consumers from the scourge of medical debts and collection agencies, according to an article published by the president of a union representing healthcare workers. Clearly, the author has done her homework. For example: “Hospitals that in the past would have worked out payment plans now send debt to collection agencies – a huge and profitable industry in our debt-driven society.” Among the suggestions to fix the problem of individuals who are saddled with huge medical bills was for hospitals to “reform their billing practices, and delay reporting or selling debt and attempt to work out payment plans with consumers.” Sounds like a viable solution to me, as long as hospitals don’t need money for anything.
COMPANY CLAIMS TO LAUNCH FIRST COMMERCIAL DEBT COLLECTION AUCTION PLATFORM
- A press release from a company called Best Rate Collections claims it has launched the first auction platform of business-to-business commercial debt. Collection agencies can bid on the portfolios of unpaid debts from companies and those companies can select from the lowest bidders.
NUMBER OF PEOPLE WHO EXPECT TO BE UNABLE TO MAKE DEBT PAYMENTS HITS HIGHEST POINT IN 18 MONTHS
- The number of individuals who expect to start missing payments on their debts rose for the fourth straight month, according to a monthly survey released yesterday by the Federal Reserve Bank of New York. The 13.26% of individuals who expect not to be able to service their minimum debt burdens represents the highest total in 18 months. But at the same time, more people expected their household income to increase and fewer people expect to be unemployed in a year.
WORTH NOTING: I feel totally left out and in the dark on this whole Pokemon Go craze, but maybe that’s a good thing … Starbucks is giving all of its employees a raise … Amazon’s new headquarters will allow employees to work in treehouses … Why banks are making apps for non-customers … Many banks will start releasing their second quarter earnings this week and the prognosis is not very positive … The 10 most dangerous states for older drivers … Denny’s is touting a new pancake recipe that makes their flapjacks 50% fluffier … As with most of the things he did, Tim Duncan retired the right way … The best steakhouse in every state … Nearly half of the people who work in childcare need some form of government assistance to make ends meet … Nine things successful people do when they meet someone … The secrets of people with long-running streaks.
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
