With President Obama's reelection and the renewed certainty behind Affordable Care Act implementation, healthcare collectors should prepare for reforms, according to The Association of Credit and Collection Professionals.
Even with the act there will still be many self-pay receivables. The IRS has also proposed rules for not-for-profit hospitals and charity care. Hospitals would have to clearly inform patients about charity care and allow them 120 days to apply, if the rules are enacted, which would significantly delay collections.
Medical debt credit reporting will also be reformed. A defeated House bill to require collectors to remove any medical debt credit report after 45 days if there is a dispute could be reconsidered.
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Even with the act there will still be many self-pay receivables. The IRS has also proposed rules for not-for-profit hospitals and charity care. Hospitals would have to clearly inform patients about charity care and allow them 120 days to apply, if the rules are enacted, which would significantly delay collections.
Medical debt credit reporting will also be reformed. A defeated House bill to require collectors to remove any medical debt credit report after 45 days if there is a dispute could be reconsidered.
More Articles on Coding, Billing and Collections:
5 Tips for Collecting in Full From Surgery Center Patients
Radiation Oncology Receives 7% Medicare Fee Reduction
First Databank Includes ICD-10 Codes in MedKnowledge Database