May 11, 2015 Newsletter
CFPB Stepping Into Healthcare Collections
The CFPB has been increasingly present in the medical/healthcare market in regards to regulations of the debt collection industry. It is clear that the CFPB will be putting this industry under the microscope in the near future.The CFPB has been pushed by consumer groups to place more restrictions on medical debt collections. In particular, the CFPB is honing in on general consumer confusion over medical billing and the impact medical debt has on consumer credit reports.
Therefore, you can expect to see new rules for credit reporting of medical accounts. The CFPB could also mandate or prohibit specific behavior with regard to medical debt when it issues debt collection rules early this year.
Password Protection: Front Line Defense
Just recently, our IT staff attended a national seminar regarding network security. They came away with a lot of good ideas we are incorporating here at Finance System of Green Bay, Inc.We wanted to share one of these tools with you, today.
- Go to web address https://www.grc.com/haystack.htm
- Type in your various passwords (both business and personal)
- Results will indicate the time required to actively search this password space.
Results can be pretty scary, especially in this day and age! One great trick the seminar shared with our IT staff was to add 4-7 specialty characters at the end of your password. This increases the time to search the password space, thus increasing security.
Update: New Collection Module Released
In January, we announced we were testing a new module for our collection software company, Roydan. On April 20, 2015, the new module, Contact Tracker, was introduced to 120 collection agencies throughout the country. Multiple agencies commented positively on the layout and functionality.
As the discussion ensued, further suggestions were made on what other features agencies would like to see incorporated in the new module. I soon noticed the lead programmer sit along side me and say, “Look familiar, Jeff?”
I looked up and replied, “Yes, it sure does.”
He paused, briefly, and smiled, “Your agency has been the most instrumental in developing this product and I hope your staff will continue to do so.” I assured him we would continue with feedback from our staff and was, once again, reminded of my staff’s knowledge, hard work and innovation.
Great job team!!
Saying Goodbye
This past month, Finance System of Green Bay, Inc. said goodbye to Sales Representative, Karen Piantek, as she retired after a year and a half with our company. In her short time here, Karen was able to bring in many new clients and build strong relationships with current clients that are sad to see her go.
For the time being, Vice-President, Jeff Shavlik, will join Account Representative, Ryne Kajewski, to help with the sales functions, here.
Though we are sad to see Karen leave, we thank her for her time here and are excited for this new chapter in her life.
Upcoming Appearances
AAHAM-Wisconsin Chapter Spring 2015 Conference
May 6-8 at The Wilderness Conference Center -Wisconsin Dells
HFMA Annual Conference
May 20-22 at Stone Harbor – Sturgeon Bay
IREM-Milwaukee May Program Lunch
May 21 at the Mayfair Collection – Wauwatosa
