RevCycle

APRIL 25, 2024

While Artificial Intelligence (AI) is making waves in the debt collection industry, this paper argues that a human-centric approach focused on empathy, understanding, and flexible solutions can achieve higher netback for healthcare providers while treating patients with dignity and respect.

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Debt Collections Collector Medical Billing Deductions 182

RMAi Blog

OCTOBER 4, 2024

On October 1 st , 2024, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced actions to reduce the burden of medical debt and address medical debt collection practices in a coordinated event with the White House. Collecting amounts above what can be charged under Federal or State law.

Medical Billing 130

Medical Billing Collector Debt Collections Credit and Collections 130

RevCycle

JULY 26, 2023

These cards allow patients to finance their medical bills, but they often come with high interest rates and fees. The Consumer Financial Protection Bureau (CFPB) is concerned about the risks associated with medical debt credit cards. Aggressive debt collection practices. Loss of negotiating power.

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Collector Credit and Collections Medical Billing Debt Collections 182

RMAi Blog

SEPTEMBER 25, 2024

The bill also prohibits using any medical debt listed on a credit report as a negative factor when making credit decisions and gives individuals more room to address their medical bills before debt collection and reporting actions can take place. This bill will be effective on January 1, 2025.

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Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

RMAi Blog

MARCH 14, 2023

The bill also provides for a private right of action for failure to provide a payoff letter in the required time. New York AB 1035 – This bill would prohibit debt collectors from communicating with consumers through the use of email, text messaging, or private communication tools offered by social media companies.

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Collector Law Firms Credit and Collections Debt Collections 100

FICO Blog

FEBRUARY 7, 2023

This medical debt often arises from unforeseen events leading to unpaid medical bills, and can be exacerbated by complicated, and at times confusing collection agency and billing practices in the healthcare industry. Based on our analysis, these two changes would impact ~5 million FICO scorable consumers.

Credit Scoring 52

Credit Scoring Debt Collections Credit and Collections Medical Billing 52

CreditStrong for Business

OCTOBER 8, 2024

In general, if you’re paying for a service, but haven’t borrowed money, that bill won’t show up on your credit report and won’t help you build credit. When you miss bill payments, you wind up in debt to the company providing the service.

Credit Scoring 52

Credit Scoring Credit and Collections Medical Billing Credit Reporting Agencies 52