Categories
Telephone Answering Service

Streamlining Accounts Payable

Discover Why You May Not Want to Follow Conventional Wisdom for Payables

By Peter Lyle DeHaan, PhD

Author Peter Lyle DeHaan, PhD

The standard business advice when it comes to accounts payable is to delay payment as long as possible, even beyond the stated due date—assuming you can get away with it. This benefits cash flow, making more money available for day-to-day operations. This may be shrewd business, but it’s not good business. 

Although lengthening payables may make sense from a money standpoint, it may not be the best overall strategy. Here’s why:

Build A Buffer

A business that mails payables at the 30-day mark or pushes payments beyond that, say perhaps to 45 days, has no cushion when cash flow gets tight and there’s not enough money in their account to pay all the invoices that are one month old. 

A business that pays invoices quickly, perhaps in one week, benefits by establishing a buffer for those times when they can’t pay as quickly. After all, what vendor would care—or even notice—if they received your payment in ten days as opposed to the usual seven? Having a policy of paying invoices quickly whenever possible, builds a buffer for those times when remitting payment suffers a bit of a delay.

Act Ethically

Some businesses readily agree to their vendors’ terms of service, such as net 30, knowing they have no intention of ever following through. Yes, they will pay, but it will happen when they want to and not according to the agreement they committed to with their vendors. This is not an ethical policy. Stop doing it.

Reduce Needless Interruptions

When a business pays invoices late, even by a couple days, they receive collection calls. Each call about a late or missed payment is an interruption to the person receiving the call. Now multiply this by every vendor you work with. That’s a lot of employee time spent dealing with an avoidable problem, and it diverts them from work that’s more important and more profitable.

Become A Preferred Customer

Whenever I have a special promotion who do I contact first? It’s those who pay their bills quickly, followed by those who pay within 30 days. I never consider customers who pay late and cause me extra time chasing down the payments that they committed to make. In short, becoming a preferred customer has rewards, while those who pay late end up on a different list.

Summary

Of all my optimize articles, this may be the least acceptable. I get that. But consider your accounts payable policy and how that affects your vendors and your staff. Granted, you can’t immediately go from paying in 45 days to paying the day the invoice arrives. But you can move in that direction. First, take steps to make sure all vendors are paid within the timeframe they expect and that you agreed to.

Next, consider incrementally shortening your payables cycle one day at a time. Keep working on it until you can pay every invoice quickly. The ultimate accounts payable streamlining will occur when you can pay every invoice on the day it arrives. Your vendors will appreciate it, and your staff will respect you for it.

Peter Lyle DeHaan, PhD, is the publisher and editor-in-chief of TAS Trader, covering the telephone answering service industry. Check out his book How to Start a Telephone Answering Service.

Categories
Writing and Publishing

Must Writers Blog?

writers blog

As someone who’s written 2,500 blog posts and counting, you may be surprised that I don’t think a writer must blog. Here are two considerations, followed by a blogging option:

Fiction Writers

It’s hard for fiction writers to build a following with a blog. Unless you want to blog and have ideas for posts that align with your author brand, then don’t do it.

Your agent or publisher may have different ideas, but don’t worry about that unless the issue comes up.

Nonfiction Writers

It’s much easier for nonfiction authors to blog. Just blog about the same things you write about in your books. Build an audience around your content, and they will likely be interested in your books too. Given that, don’t blog if you:

  • Don’t have the time
  • Lack of incentive
  • Fear it will drain you
  • Aren’t ready to commit to it
  • Don’t have enough ideas of what to blog about

Blogging Alternatives

As an alternative to starting your own blog, you can look to guest post on other people’s blogs.

Blogging isn’t right for everyone. If it’s not right for you, invest your time and creativity elsewhere.

Some publishers and agents insist that your blog, but if you know it’s not the right fit for you, don’t let them force you into doing something you don’t want to do.

Just walk away, and look for a publisher or agent that doesn’t take such a hardline approach.

Learn more about writing and publishing in Peter’s new book: The Successful Author: Discover the Art of Writing and Business of Publishing. Get your copy today.

Peter Lyle DeHaan, PhD, is an author, blogger, and publisher with over 30 years of writing and publishing experience. Check out his book The Successful Author for insider tips and insights.

Categories
Healthcare Call Centers

Tap Outsource Call Centers to Lighten the Loada

Consider Outsourcing to Better Manage Call Traffic and Increase Availability

Author Peter Lyle DeHaan, PhD

By Peter Lyle DeHaan, Ph.D.

As your healthcare call center grapples to deal with more calls than perhaps ever before, you seek ways to maintain the service level you provide to callers. Ideas include using automation, increasing employee schedules, and hiring more staff.

A fourth option is to outsource calls to another call center—an outsource call center—that specializes in taking calls for other healthcare organizations. Before you dismiss this as a bad idea, consider four common types of outsourcing scenarios.

Outsource Certain Call Types

Analyze the types of calls you answer and the appropriateness of your existing staff to take them. As an example, assume you handle triage calls, appointment schedules, call transfers, and medical answering service. Note the number of calls and the amount of time you spend in each category. Now document how many agents can take each of these call types and the number of hours they work each week. See how well your staffing aligns with your call types.

Next identify the biggest gaps. By way of example, let’s assume you discover triage nurses taking routine messages for doctors. This is a huge mismatch. What if you send routine calls to your outsourcing partner, thereby freeing your nurses to do what they do best and what’s most important?

Of course, the opposite scenario is too many triage calls and not enough nurses. You can outsource those too, but it might be to a different outsourcing partner, one that specializes in telephone nurse triage.

Outsource Overflow

Another scenario that’s ideal for outsourcing is at unexpected times when call traffic exceeds the schedule you carefully devised to meet the projected call volume. Instead of having calls pileup in queue, reroute them to your outsourcing call center partner.

Outsource Specific Times

Third, look for daily or weekly patterns to see how well staffing matches up with traffic. You may discover—or confirm—that your third shift staff doesn’t have enough work to keep comfortably busy. Outsource those third shift calls to your outsource partner. Then move your third shift employees to second.

Of course, depending on the type of work your operation handles, you could have the opposite scenario where not much happens during regular business hours, with all the action happening evenings and weekends. Then outsource first shift weekdays and reallocate those personnel to evenings.

Outsource Specific Days

Assume you have difficulty scheduling enough agents to handle your Sunday traffic. You can save yourself the hassle by sending those calls to your outsourcing call center partner and shut down your call center on Sundays. Then you can reschedule your few Sunday employees to other days of the week.

Conclusion

Many call center managers summarily dismiss outsourcing, either because they see it as a loss of control or because they perceive a lack of quality. Yet today’s leading healthcare call center outsourcers provide a high quality of service, often matching or even exceeding their client companies. Just vet them with care and make your decision based on outcomes, not price.

When you consider the benefits of being able to reallocate your staff to where they’re most needed and to better serve your patients and callers, outsourcing is a viable option that warrants careful consideration.

Peter Lyle DeHaan, PhD, is the publisher and editor-in-chief of AnswerStat and Medical Call Center News, covering the healthcare call center industry.

Categories
Writing and Publishing

When You Need an Agent

when you need an agent

If you plan to publish your book with a traditional publisher, you’ll need an agent. Most publishers only work with agents.

Even if you find a publisher who will work with you directly, you should still use an agent.

Why is that?

Because an agent will negotiate a better contract for you than you could possibly do on your own. Even if you are a lawyer or know one, an agent is still in a better position to get you the best possible deal.

Of course, if you plan to indie-publish, there is no need for an agent.

Learn more about writing and publishing in Peter’s new book: The Successful Author: Discover the Art of Writing and Business of Publishing. Get your copy today.

Peter Lyle DeHaan, PhD, is an author, blogger, and publisher with over 30 years of writing and publishing experience. Check out his book The Successful Author for insider tips and insights.

Categories
Writing and Publishing

Critique Group Characteristics

critique group characteristics

Some critique groups can be good, some are okay, and some are not good at all. Here’s what to look for in a critique group that I think is important.

Critique Group Characteristics

  • The members actively write.
  • The members read.
  • The members balance criticism with praise; too much of either is bad.
  • The members curtail feedback on pieces in genres they aren’t familiar with.
  • The members challenge each other to improve.
  • The members provide encouragement
  • The members are committed to helping other members.

Critique Group Leader

Also, look at the leader. Is the leader effective in maintaining focus and structure? If not, the group can easily veer off topic and waste time.

Learn more about writing and publishing in Peter’s new book: The Successful Author: Discover the Art of Writing and Business of Publishing. Get your copy today.

Peter Lyle DeHaan, PhD, is an author, blogger, and publisher with over 30 years of writing and publishing experience. Check out his book The Successful Author for insider tips and insights.