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Medical Receivables

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.

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LiveVox and EOS NCN Discuss Emerging Agency Practices That Leverage New Canadian Contact Center Capabilities

SAN FRANCISCO – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will host an operations expert from EOS NCN to discuss emerging practices that take advantage of new technical capabilities.  Al Weaver, Vice President of Operations for EOS NCN, will share his view of optimizing the mix of people, processes and […]

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CFPB Takes Action against Springstone Financial, LLC; Collectors Should Take Note

The CFPB has ordered Springstone Financial to provide $700,000 in relief to victims of deceptive credit enrollment tactics, stating that many consumers who signed up for Springstone’s deferred-interest loan product at dental offices to pay for dental work were led to believe that the product was interest free. In fact, interest accrued from the date of the consumer’s purchase and was charged if the balance was not paid in full before the promotional period ended. Turns out this is a lesson in training, monitoring, and UDAAP violations.

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Increased Regulation is on the Horizon for Healthcare Collections

Healthcare collections account for an estimated $4-5.5 billion annually for ARM. At this level, it’s the second largest source of collection industry revenue. Given growth rates, policy that limits discharging medical debt through bankruptcy, and the highly fragmented market, ARM and RCM companies should view healthcare as a stable growth area. Until recently, the CFPB […]

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Bolder Healthcare Solutions Acquires The ROI Companies

LOUISVILLE, Ky., — Bolder Healthcare Solutions (“BHS”) is pleased to announce that it has recently acquired The ROI Companies (“ROI” or the “Company”), a leading provider of healthcare revenue cycle management (“RCM”) services. ROI will continue to be led by its founder and CEO Chris Wunder and the Company’s experienced management team. In partnership with BHS, ROI […]

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CFPB Takes Action Against Medical Debt Collector, Largely For Lack of Policies and Procedures

Yesterday, the CFPB announced an enforcement action against a medical debt collection company for mishandling consumer credit reporting disputes and preventing consumers from exercising important debt collection rights. The company is ordered to provide over $5.4 million in relief to harmed consumers, and pay a $500,000 penalty. At the core is a lack of adequate policies and procedures.

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LiveVox and Adreima Discuss Patient Contact Strategies to Service High Days Sales Outstanding

Healthcare Revenue Cycle (RC) operations experts discuss adoption strategies to rising Days Sales Outstanding (DSO) and other ACA-related challenges Hear specific examples of patient contact and operations strategies used to help avoid onboarding additional staff to meet expanding patient engagement requirements Webinar takes place Thursday, June 18, 2015 at 2:00pm CT and is available to HFMA members and […]

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Crucial Compliance Conversations for Every Hospital CFO

The following is an excerpt from Ontario Systems‘s latest white paper, “Seven Crucial Compliance Conversations for Every Hospital CFO.” Crucial Conversation #2 “Do we credit report? If so, should we stop?” On December 11, 2014, the CFPB conducted a field hearing in Oklahoma City on medical debt collection practices and the relationship between those practices and […]