Healthcare Collection & Medical Receivables Resources
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). After a certain period of delinquency, healthcare providers will often outsource the accounts to collection agencies.
Best Practices for Resolution of Medical Accounts: A Report from the Medical Debt Collection Task Force – This document is based on the deliberations of the Medical Debt Collection Task Force, a joint initiative of ACA International and the Healthcare Financial Management Association. Published in January 2014, the report reflects the task force’s consensus on the current state of best practices related to the equitable resolution of the patient portion of medical bills.
CFPB Report on Credit Reporting Impact of Medical Debts – In December 2014, the Consumer Financial Protection Bureau Director called on credit reporting agencies to take a more active role in policing the companies that furnish data on consumers, including a mandate to report consumer disputes made against specific companies. The new requirements stem from this CFPB study on debt collection tradelines in credit reporting.
U.S. Department of Health HIPAA Information page – An information repository on the Health Information Portability and Accountability Act (HIPAA) from Health and Human Services, the federal agency that administers the law, including the HIPAA Privacy Rule and the HIPAA Security Rule.
U.S. Centers for Medicare & Medicaid Services – ICD-10 - ICD-10 is the global medical coding standard for classifying diagnoses and reasons for visits in the healthcare setting. It is administered in the U.S. by the Centers for Medicare and Medicaid Services (CMS) and the National Center for Health Statistics (NCHS).
2015 Medicare Physician Fee Schedule – The MPFS lists the more than 7,400 unique covered services and their payment rates to physicians in the U.S.
Whitepaper: The Perfect Medical Bill, Paid Perfectly – This paper sets a general framework for the discussion your organization needs to have to in order to identify weaknesses across your receivables operations, and choose a course of action to collect more cash, quickly.
Whitepaper: Using New Technology to Meet the Challenges of Reducing Healthcare Bad Debt – There has never been a more critical time for US healthcare providers to ensure they follow guidelines of best practice when it comes to billing and payment.
[SLIDE PRESENTATION] Healthcare Debt Sales: Tips to Boost Revenue and Effectively Manage Patient Relationships – Selling medical debt can be a smart option that many hospitals overlook when thinking about how to manage their revenue cycle most effectively.
insideARM.com Coverage of Medical Receivables
- 02/25/2015 – Grimley Financial Corporation Celebrates Thirtieth Year of Business
- 02/20/2015 – CFPB Emphasizes Focus on Credit Reporting and Medical Debt Collection at Advisory Board Meeting
- 02/13/2015 – The Healthcare Collections Crystal Ball (That No One’s Looking At)
- 01/28/2015 – Automated Collection Services, Inc. (ACSI) Expands Comprehensive Healthcare Compliance with HITRUST Common Security Framework (CSF)
- 01/28/2015 – LiveVox and McKesson Discuss How Cloud Optimizes Self-Service and Mitigates Compliance Risk for Healthcare Providers
- 01/26/2015 – LiveVox Enables AR Logix to Service Healthcare Providers with Robust Compliance Capabilities and a More Optimized Agent Workforce
- 01/14/2015 – A Collector’s Perspective: Part I
- 01/14/2015 – First Collection Services Chooses TECH LOCK Certified with HITRUST for Data Security and Compliance Management
- 01/13/2015 – Optio Solutions Takes a Stand on Debt Collection Compliance, Starts Best-in-Class TECH LOCK Certified and Adds HITRUST
- 12/18/2014 – Potential ARM Game Changers to Watch for in 2015
- 12/18/2014 – BillingTree Completes HIPAA Security Assessment as Part of its Focus on Regulatory Compliance
- 12/17/2014 – Complaints About Medical Debt Collection On the Rise
- 12/11/2014 – CFPB Addresses Medical Debt Collection, Mandates Tighter Policing of Credit Report Furnishers
- 12/01/2014 – CFPB Holding Field Hearing Next Week on Medical Debt Collection
- 11/25/2014 – Enhancing Patient Communication