Out of all the industries impacted in 2020, healthcare is at the top of the list, from changes in legal policies, all the way to the decay of rural hospitals, it’s no surprise that these businesses are seeking some kind of relief to these new challenges.

Optimize your ARM business with the right payment processor!

Every industry is seeing drastic changes in how they operate their business; ARM is no exception. Depending on your industry, things can fluctuate quickly or stay at the same pace for years. However, in the wake of the pandemic, we have noticed a few significant trends in the ARM industry that collection agencies have seen in 2020 that are likely to continue in the future.

The nature of a credit union is to hold and secure sensitive information. For that very reason, many companies choose to partner with payment providers because they need someone to help them meet the highest compliance and security levels to keep their customer’s banking information safe.

Mobile payment technology and payments security is light-years ahead of just a few years ago. As scammers have found ways to take advantage of payment methods, mobile phones have stepped up to offer a more secure and convenient way to pay.

Efforts to stem the spread of Covid-19 have forced consumers and businesses into workarounds for meeting basic needs — usually with significant help from pre-existing technologies. Banking is one example — and it’s likely, say experts, to remain substantially tech-enabled from now on as companies and their customers grow accustomed to the ease and convenience of digitized financial service.

Improve Your Collections Process Through Payments!

Many small to mid-sized businesses find payments to be their most significant challenge. Odd, we know, but all too common. You’d think companies would want to develop the simplest way to accept and receive money. This is especially true of the ARM/collections industry.

Healthcare debt collection has been one of the most significant pain points to overcome for any healthcare practice. Without a successful collections system, paying for essentials to keep the practice running is impossible. There are several reasons why so many practices today are struggling to stay afloat and keep cash flowing. From inefficient invoicing to a poorly implemented collection process, it’s clear that quality healthcare debt collection software is essential.