Interview: Leigh Marcus, VP of Professional Claims Bureau, Inc

I look at the possibility of a single-payer healthcare system with a glass half full approach, however.  Change always yields opportunities, and a massive change to our structure would, I believe, offer collection and billing agencies a myriad of opportunities.  Just in case, I have already begun to jot down numerous pages of notes!

Q. How will healthcare collection agencies need to evolve to remain competitive?

A. Given the growing amount of healthcare debt in this country, I believe the opportunities continue to be vast.  Differentiation is a key to success, as well as excellent customer service for both the client and the individual patients.  As previously stated, we have focused on expanding our service offerings to help our clients in varying stages of the revenue cycle.

Another way that I believe we will need to evolve is to form strategic alliances with some of the largest debt collection agencies out there -- including the debt buyers.  This is something that we are extremely open to, and I think there will be a need amongst the largest of players for help in servicing these massive portfolios that they continue to acquire.  Hand in hand with this, I anticipate continued consolidation within the industry via mergers and acquisitions as some of the largest players seek expertise in new debt classifications and as a means to obtain new client bases.

Finally, an openness to adopt new technologies that are becoming available will be crucial to an agency’s future success given the shrinking profit margins within the industry. 

Q. How, if at all, does HIPAA constrain your operation?

A. As someone who believes strongly in an individual’s right to privacy, we always make sure to follow all privacy laws and FDCPA regulations.  Privacy rules affect us more in the transmission of data with our clients and with the destruction of old data.  Technological advancements have allowed for the encryption of personal data during transmission, which, once adopted, really eliminate any potential headaches.  Overall, privacy regulations do not have a negative affect on our operations.

Q. What conference/resources do you find helpful as a small, family agency in order to stay current on healthcare collections?

A. Given the fact that we are a family owned agency located on the East Coast, it has been difficult for us to get to many of the industry conferences over the year.  At the few that we have attended, I believe the most beneficial part was the opportunity to see new technologies in action.  Networking opportunities are always great; however, I haven’t felt that the time out of the office or away from our clients has been entirely worth the travel. 

I do read many of the industry newsletters and articles including the insideARM.com daily news feeds.  I find this both informative and helpful in growing our business and following new legislation in our industry.