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TRAGEDY STRIKES INDUSTRY VETERAN
- An unspeakable tragedy has befallen a long-serving and respected member of the ARM community. Cheyenne Pratt-Brown, the daughter of John Pratt and the sister of Jason Pratt of Portfolio Management Group, was killed last week in an apparent murder-suicide involving her husband, Luke Brown. Cheyenne was 24 and leaves behind an seven-month-old daughter, Melody, who will now be raised by John Pratt and his wife, Carla. The Pratt’s have established a GoFundMe page to help cover the costs and expenses associated with this horrific event.
FTC SENDS CONSUMERS DUPED BY COLLECTION AGENCY REFUND CHECKS
- The Federal Trade Commission announced Friday that it is mailing refund checks to 4,380 individuals who were scammed by Goldman Schwartz, Inc., a collection agency that made threats and collected unauthorized fees from individuals. The agency also went by the names Cole, Tanner & Wright and Harris County Check Recovery. The total amount being refunded is $550,000 and comes more than four years after the FTC initiated its actions against the agency. That works out to about $127. The $550,000 represents 28% that was paid to Goldman Schwartz by duped and threatened individuals.
HOSPITALS LEAVING MILLIONS ON TABLE BY NOT FOCUSING ENOUGH ON REVENUE CYCLE: REPORT
- The average cost for a hospital to collect debt has worsened by 70 basis points between 2011 and 2015, according to an analysis of healthcare facilities conducted by The Advisory Board, a consultancy. The average 350-bed hospital has lost $22 million in revenue because it is focusing too much on cost and not enough on revenue cycle performance, the consultancy said.
HOW AUTOMATION CAN HELP IMPROVE REVENUE CYCLE MANAGEMENT
- Machine learning and automation are technologies that can be use more in healthcare revenue cycle management to improve productivity and returns, according to an industry consultant. Publicly available data, for example, can help determine how much a patient will be able to pay before a procedure or exam is conducted and can create more efficient workflows for accounts with unpaid bills.
WHY YOU NEED NOT WORRY ABOUT A CONSUMER DEBT BUBBLE
- The amount of consumer debt continues to grow and establish new records every time somebody stops to count it, but that should raise little concern about debt overload on consumers broadly, and within the auto finance market, specifically, according to a published report. The size of the auto market, relative to other categories of consumer debt, remains small, and households, in general, have done a good job of managing their debt loads relative to their amounts of disposable income.
WORTH NOTING: Unless it’s with a spouse, men and women don’t like spending time alone with one another … How Amazon gets you to buy more stuff … How to create a more inclusive workspace … The first half of 2017 was a good time to be invested in the stock markets … As part of a government shutdown, state beach in New Jersey are currently closed. That is, of course, unless you’re the governor … The best ultra-affordable smartphone you can buy … All airline seats are not created the same … The hotly anticipated Tesla Model 3 will start shipping this week, ahead of schedule … How to take perfect fireworks pictures … President Trump loves to engage with the media. Is it presidential?
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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.
