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What’s in Store for the ARM Industry in 2016 – Top Predictions (Part 2)

By: Rozanne Andersen | February 2, 2016

As we enter 2016, we know one thing for sure:  The ARM industry is braced for another year of significant changes. On the blog yesterday, I shared a few of my top compliance predictions to help you prepare for what’s ahead. On the blog today, I’ll share a couple more.
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What’s in Store for the ARM Industry in 2016 – Top Predictions (Part 1)

By: Rozanne Andersen | February 1, 2016

Those of us in the business of forecasting trends, reading markets and making predictions from one year to the next don’t read tea leaves, we don’t have crystal balls and we certainly don’t use Ouija boards. Instead, we draw conclusions from the past in order to predict the future and with a little luck and a lot of experience we hope to hit the mark. Often times, the transition from one year to the next is a sleepy one - nothing remarkable to highlight as we close one year and little to announce as we introduce the next. But such is not the case with 2016.
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The Outsourced RCM Market Is Growing At a Rate Of 27% - Here Are 4 Reasons Why

By: Steve Scibetta | January 28, 2016

Healthcare providers continue to outsource to trusted partners at a record-breaking pace. That’s according to the newest Black Book Market Research report, highlighting the healthcare executive’s continued focus on talent and technology that addresses new reimbursement models.
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Gauging Your ECOA Compliance? Check the Numbers That Actually Matter

By: CJ Clingler | January 20, 2016

So what specific metrics does the CFPB use to gauge whether an agency is in violation of the ECOA? More importantly, what methods should you be using to evaluate yourself? Agencies typically turn to odds ratios, marginal effects, file reviews and other statistical analyses. These numbers are used to determine, empirically, where a particular business measures up to the Bureau’s standards.
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Keep ECOA Compliant: Follow the CFPB’s 5-Step Audit Process

By: CJ Clingler | January 19, 2016

In its most recent Supervisory Highlights, the CFPB explained how it conducts an ECOA review in the context of fair lending practices. These reviews are typically focused on a specific line of business – anything from mortgages to automobile finance. The CFPB outlined the steps it takes when conducting these reviews and some of the methodologies used to analyze its findings. Fortunately, when broken down and simplified, the 5 steps taken by the CFPB in the lending space can be adapted fairly easily for use in the collection space:
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Policies and Procedures for the Document-Challenged: Where to Begin

By: Rozanne Andersen | December 10, 2015

Without exception, complying with the myriad requirements presented by the ARM industry’s ever-changing regulatory, legislative and legal environment is the number one concern for many, if not all, collection agency executives. The CFPB demands that you have established policies and procedures in place to ensure you are working toward or maintaining a culture of compliance. So documenting those policies and procedures needs to be a top-of-mind concern, if it isn’t already.
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5 Tips for Expanding Your Clients’ First-Party and Early-Out Business

By: Guest Author - Chad Probst | December 3, 2015

In an increasingly competitive environment, agencies must continually look for ways to increase market share and differentiate themselves from the competition. Those who offer a full billing/collection suite to clients more frequently increase revenue and distinguish themselves by providing a complete solution.
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Why Give the CFPB Low-Hanging Fruit? Address These Issues and Reduce Your Compliance Risk Today

By: Rozanne Andersen | November 18, 2015

Last week attorney and friend, John Rossman, published an excellent summary of the CFPB’s Supervisory Highlights, Issue 9, Fall 2015 on insideARM.com. Entitled, “Big Mistake! Three Compliance Risks Collectors Overlook,” John aptly recommends collection agencies take heed and pay close attention to three issues of particular concern to the CFPB:
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TCPA Consent - 5 Questions Healthcare Providers Are Asking

By: Rozanne Andersen | November 5, 2015

On yesterday’s blog, we discussed the Federal Communications Commission’s (FCC) public hearing on the topic of compliance with the TCPA. Its Omnibus Declaratory Ruling and Order (“2015 Order”) responds to 21 Petitions seeking clarification on a number of issues including:
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Calling All Healthcare Providers – Yes, the TCPA Applies to You Too!

By: Rozanne Andersen | November 4, 2015

The Telephone Consumer Protection Act (TCPA) is a federal law that prohibits any person from using an autodialer or prerecorded message to communicate with a consumer by way of their cell phone without their express consent. See, 47 USC §227 (a)(1) and §227(b). The definition of consent as well as the term autodialer, or as the term is used in the statute, Automatic Telephone Dialing System (ATDS), have been the subjects of tremendous controversy, litigation and confusion.

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