Year-long study examines top factors that lower consumer litigation, damages, defense costs and complaints.
MUNCIE, Ind. – Ontario Systems, a leading accounts receivable management (ARM) and healthcare revenue cycle management (RCM) technology and services provider, has announced its Chief Compliance Officer, former ACA General Counsel and CEO, and practicing attorney Rozanne Andersen, will present results from the Ontario Systems Compliance Consulting Team’s first Cost of Compliance Survey during a general session presentation on September 23, at the company’s annual PowerUp Conference.
In collaboration with Ball State University’s Center for Business and Economics Research, Andersen and her team set out to discover which organizational factors correlate with low litigation rates, a decrease in collection agency damages and defense costs, and a decrease in consumer complaints.
“Since the day the Consumer Financial Protection Bureau released its definition of Larger Market Participant (LMP) for the collection industry; collection agencies, debt purchasers and collection law firms having been pouring money into their compliance programs. Yet few have collected data to determine where their dollars actually make a difference. This study, the first of its kind for the collection industry, seeks to answer this question and help industry executives make sound compliance and organizational decisions.”
In addition to discussing these data points during her presentation, Andersen will also address several of the most pressing compliance issues threatening the ARM, revenue cycle and first-party business models.
PowerUp 2016 runs September 21-23 at the Indianapolis Marriott Downtown. Visit powerup.ontariosystems.com to sign up and learn more.
About Ontario Systems
Ontario Systems, LLC is a leading provider of revenue cycle management (RCM) and accounts receivable management (ARM) software, services and solutions to the collections, healthcare and government industries. Established in 1980 and headquartered in Muncie, Ind., Ontario Systems also has a location in Vancouver, Wash., and employees in 27 states. Ontario Systems offers a full portfolio of software, services and business process expertise, including product brands such as Artiva RM™, Artiva HC™, Contact Savvy®, Columbia Ultimate and RevQ. Ontario Systems customers include eight of the 10 largest ARM companies and five of the 15 largest hospital networks in the U.S. With Ontario Systems’ solutions, hospital network customers actively manage over $40 billion in receivables collectively.