St. Paul, MN - IC System is pleased to announce the addition of Shawn Yates to the IC System executive team. IC System is an industry leader in providing effective and compliant accounts receivable services to the healthcare industry. In his new role as Vice President of Healthcare Services, Shawn will build on this tradition by […]
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.
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 […]
The facts in Gelinas are only slightly different than those presented in Kostik. In the Gelinas case, the envelope in question displayed a series of 21 numbers, the last 10 of which were the original invoice number for the services rendered that created the outstanding balance due. (In Kostik the envelope displayed a barcode.)
New York Attorney General Eric T. Schneiderman announced today that a court order has been obtained against Med-Rev Recoveries, (Med-Rev) a consumer debt collection agency formerly located in Liverpool, NY, permanently barring it from operating as a debt collector and requiring payment of $550,000 for consumer restitution, civil penalties and costs. Med-Rev’s sole owner, John […]
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 […]
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.
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 […]
Earlier this week, Pennsylvania Attorney General Kathleen G. Kane announced that her office filed a civil complaint against James Havassy and his firm, Hamilton Law Group, P.C., a medical debt collection company. According to the announcement, Havassy is accused of using the state statute commonly known as Relative’s Liability Procedure to coerce payments from debtors’ relatives, who were not responsible for the debt.
WOODLAND HILLS, Calif. – Convergent Revenue Cycle Management, Inc., a national provider of healthcare revenue cycle management and patient access solutions to top hospitals, has announced that Will Richter has been promoted to Senior Vice President of Client Management. Richter has been working for Convergent for 12 years and most recently served as Senior Account […]