Outstanding receivables and bad debt is increasing among hospitals in the U.S., even the non-profits.
The percentage of American consumers with at least one account in the third party debt collection system increased slightly in the fourth quarter of 2013 while the average balance of accounts in collection jumped for the second straight quarter, according to data released this week by the Federal Reserve Bank of New York (FRBNY).
The Commercial Collection Agency Association of the Commercial Law League of America reports that in the fourth quarter of 2013, the number of commercial (B2B) accounts placed with CCAA members decreased slightly by 5.70% when compared to third quarter of 2013.
Those in the collection business know that industry professionals and their agencies constantly seek ways to improve processes and be successful. With the constant demand to find the right solutions to our business objectives, it’s easy to forget the more basic components of success.
The U.S. Labor Department Friday issued an employment report for January that showed job growth far below expectations, but a dip in the official unemployment rate to 6.6 percent from 6.7 percent in December. Investors seemed to applaud the report, in part, sending stocks higher in Friday trading. Why?
Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the fourth quarter of 2013 according to the “advance” estimate released Thursday by the Commerce Department’s Bureau of Economic Analysis (BEA).
2014 will be a breakout year for the U.S. economy as private-sector demand accelerates and fiscal drag eases, according to the Economic Advisory Committee of the American Bankers Association.
As consumers continue to seek and receive more credit, the latest quarterly survey of U.S. and Canadian bank risk professionals found expectations for delinquencies on auto loans hit their highest level since Q4 2012, and expectations for delinquencies on credit cards reached their highest level in two years.
Consumer delinquencies declined significantly in last year’s third quarter as the economy improved and consumers better managed their finances, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin.
This should be a better year for the U.S. economy, which is important to the ARM industry. But we’re still on thin ice.