Collected Thoughts Monthly – March 31, 2021 – Issue 06
Upcoming Events
CCI’s next Wednesday Webinar will be on May 26, 2021, at 10:00 a.m. Save the date!
Colorado HFMA – 2021 Virtual Spring Symposium is scheduled for April 21st through the 23rd. Attend seven virtual sessions over three days.
Read More.
Wyoming HFMA Board Meeting and Social Zoom. Thursday, April 8, 2021 at 4:00 p.m.
Wyoming Bankers Association – 2021 Agricultural Bankers Conference is scheduled for May 12-13 at the Platte Valley Community Center in Saratoga, Wyoming.
Colorado Bankers Association – Visit their
calendar for an April full of webinar opportunities.
Wyoming Hospital Association – Annual Meeting & Convention is scheduled for September 8 & 9th, 2021 at the Clarion Inn in Casper, Wyoming.
Colorado Hospital Association – Hospital – Based Medication for Addiction Treatment * ECHO Series * Building a Network of Addiction Care is scheduled for April 7 – 21, 2021.
Meet the Team Serving You – Kelsey Peters, Sr VP Production
Kelsey has been a part of the CCI family for 11 years. She cites CCI’s purpose statement as what she likes best about working here:
“At CCI, we understand life happens. We believe in finding solutions that assist creditors in enhancing their financial performance.
We strive to help consumers understand and resolve debt while empowering all employees to thrive and grow.”
Kelsey goes on to say that being of service to others in any capacity fills her bucket and there are endless opportunities daily at CCI. In addition, the environment we foster in house is something she feels lucky to get to walk into every day. We work hard and have a lot of fun doing it!
Outside of work, especially on the weekends, you can find Kelsey brunching at a local eatery in Northern Colorado before setting off on an adventure with family and friends. She enjoys all things outdoors but loves jeeping, golf, hiking, camping, live music, and photography.
Quote of the Month
It is literally true that you can succeed best and quickest by helping others to succeed ~ Napolean Hill
Management Tip
Adapted from “Helping Your Team Feel the Purpose in Their Work,” by Dan Cable
Your Employees Want to Feel the Purpose in Their Work
Instilling purpose in your employees takes more than motivational talks, lofty speeches, or mission statements. in fact, if overblown or insincere, those methods can backfire, triggering cynicism rather than commitment. To inspire and engage your employees, keep two things in mind. First, purpose is a feeling. You could tell your team that their work is important, but how can you help individuals feel it firsthand? Think about ways to show people the impact of their jobs. Perhaps you could bring a customer in to share a testimonial, or send a small team into the field to experience the client’s needs for themselves. Second, authenticity matters – a lot. If your attempts at creating purpose do not align with how you’ve acted in the past, employees will likely be skeptical, and they might be left feeling more manipulated than inspired. Making the pursuit of purpose a routine, rather than a one-off initiative, will show employees that you’re serious about it.
Celebrating Others
- Wyoming Medical Center in Casper, Wyoming has received an “A” grade for safety from the Leapfrog Group. This is the second year in a row they’ve achieved this grade.
- Evanston Regional Hospital in Evanston, Wyoming has been recognized as a 2021 Top 100 Rural & Community Hospital
Collecting Accounts Receivable
In a perfect world, everyone pays their bills on time … but this is not a perfect world. The majority of people are conscientious, but there are others who are not. These folks may provide you with a multitude of reason as to why they cannot pay.
- Didn’t receive the bill
- Didn’t budget to pay the bill
- Haven’t been paid by their customers so they can in turn pay you.
The telephone is your best tool during the first months a payment is due. Pick up the phone and call the person who owes you. Ask for payment in full every time you speak with them.
PHONE CALL #1 – Ask for payment in full. A calm voice will prevent the customer from becoming defensive. Often in this first call, customers are apologetic and let you know when they expect to pay it. Notate this date in their file and if payment does not come on or before that date, call them again.
PHONE CALL #2 – Ask for payment in full. The customer will most likely explain why they haven’t paid and give you another time frame. If you are planning to add interest, tell them that will happen if the payment is not received.
LETTER #1 – Ask for payment in full. If no payment after the second promise of payment, send them a letter outlining what may happen if they do not pay. This is also the time to add interest if you choose to do so.
LETTER #2 – Ask for payment in full. Seven days after the first letter, send the second letter giving them a specific time frame to pay or the account will be turned to collections.
TURN THE ACCOUNT
It is imperative to your revenue cycle to turn the account in a timely manner, when information is fresh on the file and when the customer remembers receiving the services.
