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Medical receivables are the amounts owed by third-party payers to healthcare providers. The party owing the money can be commercial insurance companies, HMOs, Medicare and Medicaid, or patients (if there is an outstanding balance after insurance or another payer has paid its portion).
Medical receivables are usually payable 60 to 120 days after service is rendered, though some reimbursements lag further behind, creating cash flow issues for healthcare providers, who typically need to pay expenses in a shorter time frame.
The New York Times ran a feature-length piece Friday on how a prominent credit scoring service is treating collection accounts. The new scoring formula benefits consumers, but it could also present ARM companies with an opportunity and another tool to use in their collection efforts.
It may not be brain surgery, but U.S. businesses, especially in the accounts receivable management industry, can learn a lot of healthy social media habits by emulating hospitals’ use of common social media platforms like Facebook and Twitter.
Can a Medicare beneficiary’s debt be considered uncollectible if it has been referred to a collection agency? George Washington University Hospital says, “Yes, that debt should be considered uncollectible” — probably because if it were collectible, the hospital wouldn’t be sending that debt to a collection agency. So they took their “Yes” to court.
It’s no secret that in recent years, accounts receivable management has changed dramatically for healthcare providers. Payment used to be as simple as submitting a claim to an insurance company and following up to verify the remittance date. But a number of outside forces have made life, ahem, complicated for providers these days. More than [...]
A federal judge in Florida Tuesday granted class certification to a case brought by a consumer against a medical debt collection agency over a message left in the plaintiff’s voicemail. The consumer is seeking damages under the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA).
The case also names the original creditor, a hospital in this case, citing vicarious liability under the TCPA.
Medical Recovery Specialists, LLC (MRS), part of the Receivables Management Partners (RMP) family of companies and a leading provider of accounts receivable management and other outsourced revenue cycle management (RCM) services to the healthcare industry is pleased to announce that Mike Gerlach has joined MRS as General Manager
Insurance reimbursements are down, affecting gross days revenue outstanding — and, more importantly, your healthcare organization’s bottom line. In order to effectively manage receivables, it’s what happens after the claim that matters most. In this webinar, presented by Ontario Systems and insidePatientFinance.com, you’ll learn techniques that will help you reduce gross days revenue outstanding and [...]
HBCS, a leading provider of billing and collection services for healthcare organizations, has appointed Eric Reyes as Vice President of Insurance Operations.
Accretive Health, Inc. (NYSE: AH) announced this morning that it has achieved from the Health Information Trust Alliance (HITRUST) Common Security Framework (CSF) Certified status. This status assures that Accretive Health is meeting the health care industry’s highest standards in managing risk and protecting health information. Achieving HITRUST CSF Certified status from HITRUST is vital as electronic health record-sharing expands.
“HITRUST has been working with the industry to ensure the appropriate information protection requirements are met when sensitive health information is accessed, used and stored,” said Kenneth Vander Wal, Chief Compliance Officer of HITRUST. “We are pleased that Accretive Health has taken the steps necessary to achieve HITRUST CSF Certified status, and we expect its customers to have confidence in this designation.”
RMB Inc., a leading provider of healthcare accounts receivable outsourcing and delinquent account recovery, today closed on a merger with Rubin & Raine of Eatontown, N.J. The combined companies will be known as RMB Inc. and will operate with a staff of approximately 200 employees.