Simon's Says - Issue #57 - August 2019
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Simon's Says 57
a helping hand for a loved one

Keeping Patient Responsibility in Mind When Collecting on Delinquent Accounts

With patient responsibility making up a larger portion of a consumer’s healthcare costs than in the past, it’s important that your third-party agency approaches these debtors as patients first, since many times the patient may either be confused or simply needs a payment plan in order to get back on track.  Either way, during many of these initial negotiations, collectors are finding themselves positioning closer to customer service reps than your traditional collection agent.

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time and money

Time Is Money, So What Are You Waiting For?

Once an organization has decided to use an agency to collect on its bad debt, it must decide when it should start placing its accounts with the agency.  While there are many pieces to consider for its own placement process – what information to collect, what information to turn over, how to place accounts securely, among a multitude of other factors – one of the most critical policies, and one which will have a definitive impact on its collections results is when to place those accounts.  With this in mind we will explore four key reasons to get placements in sooner than later.

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 Attention Creditors, Providers and All Clients,

This is an Important MUST READ Article!

Why Providers Should Care About the CFPB's Proposed Rules Changes

On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) published its highly anticipated notice of proposed rulemaking (know as an “NPRM”) under the Fair Debt Collection Practices Act (FDCPA). While the actual rules are intended to apply only to third-party debt collectors covered by the FDCPA, first-party creditors, servicers and providers will certainly be affected by these changes as well.

With this NPRM document weighing in at over 500 pages, we've outlined a brief summary of the major proposed rules that will have a definitive effect on providers, creditors and ALL OF OUR CLIENTS:

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