Account Receivables Management Services Blog

2012 Best Places to Work in Collections

Released October 2, 2012

DECA Financial Services, LLC was recently named as one of the Best Places to Work in Collections. This program was created by insideARM.com and Best Companies Group.

This survey and award program was designed to identify, recognize and honor the best places of employment in the collections industry, benefiting the nation’s economy, its workforce and businesses. This year, the Best Places to Work in Collections list is made up of 31 companies divided into three size categories: Small (15-74 employees), Medium (75-249 employees) and Large (250+ employees).

To be considered for participation, companies had to fulfill the following eligibility requirements:

- Be a for-profit or not-for-profit business;

- Be a publicly or privately held business;

- Have a facility in the United States;

- Have at least 15 employees in the United States;

- Must be in business a minimum of 1 year;

- Must be a Collection Agency, Collection Law Firm or Debt Buyer.

Companies from across the U.S. entered the two-part survey process to determine the Best Places to Work in Collections. The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings.

For more information on the Best Places to Work in Collections program, visit

http://www.insidearm.com/features/best-places-to-work/

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As you know, the medical debt collection is a noisy and crowded market. DECA Financial Services wants to help you maintain your competitive edge in collection recoveries.   A strategic partner of DECA, insidepatientfinance has developed online tools, information and best practices to help healthcare finance professionals deliver results and better partner with collection agencies like DECA.

The link below is available for free and provides valuable reports developed by award-winning editors to tackle the key issues the healthcare finance professionals face as they manage the revenue cycle.

The information in these reports and throughout the site will help you increaese cash flow, work more efficiently, and provide better care for your patients.

http://www.insidepatientfinance.com/category/free-reports/

The U.S. Department of Health and Human Services recently announced that it would test the capitation model of payment reform in Massachusetts. The state’s 110,000 Medicare/Medicaid patients under age 65 will be assigned to an integrated care organization (ICO) in exchange for a set fee per patient that covers all medical treatment for a defined period.

The test will demonstrate if capitation works and is scalable, The Massachusetts test heralds the beginning of a new era of payment reform. But as we all know, payment reform is already here. There is a growing consensus by providers that the well-worn fee-for-service model doesn’t work, and that something has to change. But change is already here, and payment reform, whether we like it or not, has arrived. Unless healthcare providers are proactive, these payment reform trends themselves will literally pick our pockets as payors–be they government agencies or insurance companies–pick hospitals’ pockets.

Federal and state governments already engage in payment reform in its crudest form by simply reducing reimbursements. This trend will continue as the Baby Boomer generation becomes the Medicare generation (or possibly the Medicaid generation considering the millions that have saved nothing for retirement).

In the case of Medicare and Medicaid, there is only one place where the buck stops when it comes to the government, and that is with providers. The winners will be those who become the most proficient and efficient when it comes to seeking reimbursements and avoiding denials. As we mentioned last month, that means getting ahead of the ICD-10 curve. Fortunately the U.S. Department of Health and Human Services has given you another year to get ready.

Health insurers are under tremendous pressure from their customers, i.e., employers, to keep costs down, and so far 2012 has not been a banner year for revenues or profits. Insurers will transfer that financial pressure onto providers, and as UnitedHealth Group recently demonstrated, they will leverage consumers to help them. At the recent HFMA leadership conference, UnitedHealth Senior Vice President Simon Stevens showed off a brief demo of his company’s customer engagement tool that enables their customers, your patients, to see the price and relative quality of procedures of healthcare providers in their area. Stevens called it an “Expedia” of healthcare options.

A recent report by Chilmark Research said that adoption of such tools by insurers has been slow, but is growing. UnitedHealth is the 500-pound gorilla in the marketplace, and where they go, the rest of the pack cannot be far behind.

Some healthcare providers have seen the light, and realized that it comes from a computer screen. As Boca Raton Regional Hospitalrecently demonstrated, providing an online infrastructure where you can engage your patients not only means they will be better informed and better prepared about the cost of their healthcare, it also results in increased collections and increased patient satisfaction.

It seems to be only a matter of time before patients begin “price-shopping” their current providers.  Up until know, most of us have chosen our provider based off of convenience and/or in-or-out-of network.  A recent article published by the HFMA tells how patient friendly billing is emerging in the marketplace.

To read the entire article, click here.

In the April 2012 issue of the DECA Relay, a monthly newsletter for healthcare providers about medical receivables, insideARM.com contributing editor, Evan Albright, asks an important question about healthcare data security: in the wake of recent high-profile security breaches in the healthcare industry, how vigilant is your organization about protecting patient data. Here are Evan’s thoughts on the topic.

It’s after midnight. Do you know where your patient data is?

As BlueCross BlueShield of Tennessee recently learned, the government considers it the “parent” of all the health care data it generates on its customers, regardless of whether that data is under its control or not.

The story contains numerous “lessons learned” for health care organizations as it applies to patient data and IT security, and its relationships with its vendors who may have access or even control to those data.

BlueCross paid the government a settlement of $1.5 million after thieves stole computer hard drives containing health care information relating to more than a million of it customers. The hard drives were in a secure closet in office space the insurer had recently vacated. Security for the closet had been turned over to the real estate management company.

BlueCross denies any liability in the case, but reached a settlement to end expensive litigation.

The BlueCross case has ramifications for other health care organizations, especially as it extends to it vendors, including those in health care collections. Not only do collections vendors need to be knowledgeable and current with HIPAA laws related to collections, they also need to be well versed in patient privacy and security regulations under HITECH.

The attention of the government is not only focused on the big boys, but on smaller practices as well. Recently HHS’s Office of Civil Rights reached a $100,000 settlement with Phoenix Cardiac Surgery, a five-surgeon practice in Arizona, for allegedly scheduling patients using an “Internet-based calendar that was publicly accessible” among other alleged violations of HIPAA.

While collections agencies can be sued for violations of IT data security (as Chicago-based Accretive learned in January) the BlueCross case indicates that the federal government will go after the health care organization that created the data.

Before entrusting any of your patient data to a vendor, be sure to conduct reasonable due diligence that the vendor knows the law and has safeguards in place to protect your interests. The data you save may be your own.

For more information on current trends in healthcare IT and data security, be sure to check out the rest of the content in the April DECA Relay.

A recent article published by insidearm.com stresses yet another reason why bad debt collections needs to be at the forefront of your revenue recovery models. With the Supreme Court deciding the constitutionality of healthcare reform and healthcare bad debt rising at an alarming rate, understanding how your operation would be impacted is critical for survival.

DECA Financial Services, LLC has extensive experience, knowledge and a nationwide presence in all types of healthcare collections.  Let DECA provide you with a free analysis today!

Click here for the entire article.

FISHERS, Ind. (March 22, 2012) – DECA Financial Services, LLC, a nationally licensed collection agency, announced plans today to expand its headquarters here, creating up to 270 new jobs by 2015.

Founded in 2010 in Fishers, DECA is an account receivables management firm for government agencies and corporate entities. The company will invest $2.6 million to purchase and equip a vacant building on Visionary Way in Fishers.

“DECA is another example of an Indiana company showing confidence in our competitive business climate and strong Hoosier workforce,” said Governor Mitch Daniels. “We thank them for their commitment to our state and growing the Indiana economy.”

The company plans to hire approximately 140 employees over the next three years and up to 270 cumulative positions in the coming years. DECA has already begun hiring new administrative, human resources and finance associates.

”The town of Fishers and state of Indiana have provided a great business environment for our company to grow,” said Todd Wolfe, president and chief executive officer of DECA. “We appreciate their support, and look forward to calling Fishers, Ind. our home for many years to come.”

The Indiana Economic Development Corporation offered DECA Financial Services, Inc. up to $2,500,000 in conditional tax credits and up to $45,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The town of Fishers has approved additional property tax abatement.

“We are excited to have DECA in Fishers,” said Mike Colby, Fishers town council vice president. “As Fishers continues to grow, new opportunities for jobs are important and we are thankful that DECA ishelping add jobs to our community.”

Just last week, life sciences firm Helmer, Inc. also announced plans to expand its headquarters in central Indiana. The laboratory equipment and refrigerated products manufacturer will invest $10.56 million to construct a new facility in Noblesville, adding up to 46 new jobs by 2014.

About DECA Financial Services

DECA Financial Services, LLC is a nationally licensed collection agency located in Fishers, Ind., which specializes in healthcare (facility and physician), education, financial services (banks and credit unions) and municipal (taxes, tolls, etc.) based debt. DECA is staffed with professional account representatives who consult with consumers that are financially responsible for resolving any outstanding balances.

About IEDC

Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information
about IEDC, visit www.iedc.in.gov.

by Todd J. Wolfe, President and Chief Executive Officer, DECA Financial Services, LLC

In his recent book, The Age of Turbulence, Alan Greenspan emphasizes the value of “creative destruction” which is defined as the abandonment of aged business models/methodologies and the shifting of capital to better strategies and models. This theory of economics dates back to Marx, but Greenspan’s interpretation is most applicable to recent market trends. The Accounts Receivable Management (ARM) Industry has seen this theory play out again and again over the past twenty years. Every industry segment, from credit card to student loans, has been compressed by reduced profit margins and increased government regulation. Healthcare is right in the middle of this economic evolution and is a perfect case study for this Darwin-based theory. Historically, most healthcare providers were able to realize significant margin from insurance reimbursement. Many chose not to make necessary investments in process and cultural shift to recognize the importance of the consumer-owed segment of their accounts receivable. This lack of vision obviously impacted the internal operations of the provider. However, it also created an infrastructure of outside agencies that focused more on billing/re-billing insurance as opposed to collecting directly from consumers in a compliant and effective manner.

Read the rest of this entry »

A nationwide accounts receivable management company based in Indiana has seen substantial growth throughout the second half of 2011.

DECA Financial Services’ (DECA) Director of Client Development, John Owen, stated, “Due to an increase in our private and government based client portfolios, DECA is poised to increase its employment of approximately 54 local employees to as high as 100 in the coming months.”

DECA has seen overall revenue grow by more than 1,400% compared to the same period last year and is expecting 2012 to be even more favorable.

DECA’s founder and CEO Todd Wolfe stated, “Our management team has more than 50 years of experience in this industry and came from an organization that we grew at a comparable rate. While we have experienced and lead this type of growth before it is both exciting and rewarding to be a part of something so special.”

DECA Financial Services, LLC is a nationally licensed collection agency located in Fishers, Indiana, which specializes in Healthcare (facility and physician), Education, Financial Services (banks and credit unions), and Municipal (taxes, tolls, etc.) based debt. DECA is staffed with professional account representatives who consult with consumers that are financially responsible for resolving any outstanding balances.

Although DECA Financial Services, LLC focuses on several industries for debt collection, a healthcare article written this year on InsideArm.com, caught our attention.

Many industries have utilized a “scoring” methodology to determine the propensity for their debt consumers to satisfy their debt obligation, yet healthcare is a recent adopter.  According to this healthcare credit scoring article from  insideARM.com, the healthcare industry has selected a patients credit score as the tool in determining the ability to pay ones healthcare debt.  We truly feel that having a scoring method is better than not, but, like the article, believe there are more “telling” statistics, especially in this economy.

Read the article on insideARM.com »