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13, 2022 /PRNewswire/ –CCMR3, a leading provider of accounts receivable and collection services, has acquired Healthcare-I, L.L.C. HCI), a healthcare receivables management company. Since 1992, HCI has specialized in healthcare debt recoveries, offering consulting services to business offices and insurance claims management.
By virtue of not signing it into law or vetoing it while it sat on the governor’s desk for 30 days, healthcare debt collection legislation in Maryland has become law, which, while not as restrictive as it was when it was introduced, will still require healthcare providers and debt collectors working medical debt accounts to … The post Maryland (..)
Fewer than 60% of healthcare providers are satisfied with their current patient payment systems and 30% said their most recent implementations were not successful, according to the results of a survey by Bank of America and The Strawhecker Group.
From massively underestimating how much medical debt actually exists to hospitals and healthcare facilities across the country being called out for being too aggressive in trying to collect on unpaid debts — especially when the amounts collected are not significantly … The post The Racial Divide of Healthcare Debt appeared first on AccountsRecovery.net. (..)
Drawing from years of experience across industries ranging from healthcare to media and financial services, our esteemed speaker will walk you through proven methods that finance professionals can adopt to build resilience in cash flow management.
A company that bills itself as a Buy Now, Pay Later service for the healthcare industry has announced that it has raised $110 million in Series A financing to help it add more staff and expand into new territories across the United States.
There is likely a sense that only people who do not make a lot of money are unable to afford paying for healthcare, and while that is largely true, data from a nationwide poll reveals that regardless of how much money an individual makes, healthcare costs force difficult decisions to be made.
To the surprise of probably nobody, the amount of out-of-pocket healthcare expenses placed on patients continued to rise, and will continue to do so at the same rate for at least the next five years, according to data that was released last week.
Under the law, any debt owed for good or services provided by a medical facility, a provider of healthcare, or a provider of emergency medical … The post Nevada Gov. Signs Healthcare Collection Bill into Law appeared first on AccountsRecovery.net. The new law goes into effect on July 1.
Healthcare patients are still “clamoring” for more advances to improve billing and payment solutions, according to the results of an annual survey conducted by Cedar, a healthcare financial engagement platform.
A fintech company that started out offering Buy Now, Pay Later services for petcare and has since expanded into healthcare finance for humans has announced it has raised $35 million in funding to help it grow and expand its product.
For many companies in the … The post Healthcare Billing Statements Source of Frustration for Consumers: Survey first appeared on AccountsRecovery.net. The post Healthcare Billing Statements Source of Frustration for Consumers: Survey appeared first on AccountsRecovery.net.
Meduit, a leading healthcare revenue cycle solutions company, announced today that JP Recovery Services (JPRS) has joined the Meduit organization. Together, the two companies will leverage their combined capabilities to provide a full spectrum of revenue cycle solutions to healthcare organizations in 48 states.
The comparison is meant to illustrate just how far medical providers still have to go in providing a robust and … The post Data Details Disturbing Trend For Healthcare Providers appeared first on AccountsRecovery.net.
The amount of bad debt at healthcare providers that is attributable to self-pay after insurance accounts grew sixfold between 2018 and 2021, and represented nearly 60% of all bad debt, according to a report released this month by Crowe Revenue Cycle Analytics.
Key findings: The big picture: The 264% increase in ransomware attacks on healthcare organizations since 2018 has heightened the scrutiny around HIPAA compliance. The healthcare sector needs to get serious about cybersecurity and complying with HIPAA.” Learn more.
The high cost of healthcare has a lot of Americans making difficult choices, and many are choosing to cut back on driving, eating, and keeping their lights on to cover their medical debts, according to the results of a nationwide poll.
The amount that Americans pay out-of-pocket for healthcare grew by 10.5% Out-of-pocket expenses includes copays and deductibles … The post Out-of-Pocket Healthcare Expenses Spike For Americans in 2023 first appeared on AccountsRecovery.net. The data was released as part of the CMS’s National Health Expenditures report.
17, 2023 — Wakefield, a leading healthcare revenue cycle solutions company, announced today that Healthcare Receivables Group (HRG) has joined the Wakefield organization. AURORA, Colo.,
Payzen says it uses technology like artificial intelligence and machine learning to generate payment plans tailored to the budget and repayment ability of each … The post Healthcare Fintech Raises $220M To Offer Zero-Interest Payment Plans to Consumers first appeared on AccountsRecovery.net.
Thomas Donovan, the Attorney General of Vermont has reached a settlement with a healthcare provider that will require the provider to use a professional debt collection agency, while also being barred from collecting certain old debts and paying a fine of $10,000, half of which was suspended because it cooperated in the investigation.
January 3, 2023 — Wakefield & Associates, one of the largest healthcare revenue cycle solutions companies in the nation, announced today that industry veteran Mark Schanck has joined the organization as its Chief Revenue Officer to provide executive leadership and oversight of the company’s business development efforts.
A healthcare provider and the collection agency working on the provider’s accounts are facing a class-action lawsuit alleging they violated a recently enacted state law in New Mexico by engaging in debt collection activities before verifying whether the incomes of those patients protected them from such activities.
29, 2022 /PRNewswire/ — Prodigal, a pioneer in Consumer Finance Intelligence, and Finvi, a premier provider of workflow and payments solutions that streamline and accelerate revenue recovery in the accounts receivable management (ARM), healthcare, and government markets, today announced their partnership. MOUNTAIN VIEW, Calif.,
If enacted, the process of identifying those … The post Maryland Legislature Advances Bill Requiring Refunds to Patients Who Were Eligible for Free Healthcare appeared first on AccountsRecovery.net.
PLANO, TX– Intelligent Contacts, a leading provider of Cloud Contact Center software and consumer-centric online payment solutions for the healthcare and accounts receivable industries, today announced a partnership with Elite Services, Inc.,
The Attorney General of Minnesota is investigating the billing and collection practices of a well-know healthcare provider, following a published report that detailed how the provider is filing collection lawsuits to recover unpaid medical debts from low-income patients.
Judge Awards Plaintiff’s Counsel $206K in FCRA Case; BNPL Healthcare Startup Raises $110M appeared first on AccountsRecovery.net. COMPLAINT ACCUSES COLLECTOR OF VIOLATING FDCPA, REG F … The post Daily Digest – May 10.
Collector Facing Class Action for Sending Undated MVN; Healthcare Fintech Raises $220M to Offer Interest-Free Payment Plans to Consumers first appeared on AccountsRecovery.net. The post Daily Digest – November 29.
Ransomware continues to pose a severe threat to the healthcare sector, according to the State of Ransomware in Healthcare 2024 report from Sophos. While attacks have decreased in many industries, healthcare organizations are increasingly targeted. Ransom payments in the healthcare sector have also surged. million in 2023.
Bank, a leading financial services provider, has announced the completion of its acquisition of Salucro Healthcare Solutions LLC, a Tempe, Arizona-based company specializing in healthcare financial technology. Bank reflects a growing trend of financial institutions investing in specialized healthcare fintech. This move by U.S.
— Navient (Nasdaq: NAVI) announced today that it had reached an agreement to sell its Healthcare Services business to CorroHealth, a leading health technology company. Doing business as Xtend Healthcare, Navient’s healthcare revenue cycle management organization is headquartered in Hendersonville, Tenn. HERNDON, Va.
— Navient (Nasdaq: NAVI) announced today that it had reached an agreement to sell its Healthcare Services business to CorroHealth, a leading health technology company. Doing business as Xtend Healthcare, Navient’s healthcare revenue cycle management organization is headquartered in Hendersonville, Tenn. HERNDON, Va.
A lot of healthcare providers are still feeling the financial pinch of the Change Healthcare cyberattack, and that may move more of them to take a proactively innovative approach to bolstering the payment options they offer patients as a means of improving their accounts receivable processes, according to a published report.
Understanding the pain points and the issues that are keeping revenue cycle managers at healthcare facilities up at night are opportunities for companies in the accounts receivable management industry to enhance partnerships and strengthen relationships with their healthcare clients.
If you work in healthcare revenue cycle management or with healthcare providers, this statistic may just blow your mind: 92% of healthcare providers said they faced at least one cyber attack in the past 12 months, up from 88% a year ago, according to a report published by Proofpoint and The Ponemon Institute. million in 2023.
That is the dividing line between healthcare debts that are likely to be paid and those that are not, according to a report released last week. What’s interesting is that is also the demarcation line between debts that appear on consumers’ credit reports and those that do not. While debts under $500 are no […]
The healthcare industry continues to grapple with an increasing number of claim denials, exacerbating financial challenges for providers and complicating revenue cycle management.
Here in the United States, 88% of healthcare customers consider clear and timely communication essential to their overall experience, up from 81% a year earlier, according to Smart Communications’ 2024 Global Benchmark Report, which emphasizes the growing importance of personalized and secure interactions in the healthcare industry.
PayZen, an AI-powered patient financing solution that aims to make healthcare more affordable while improving collection rates for providers, has closed an oversubscribed Series B funding round, raising $32 million in equity and securing a $200 million credit warehouse.
19, 2024 — Leading healthcare technology and RCM company CorroHealth has finalized its acquisition of the Xtend healthcare revenue cycle management business from Navient, further positioning the company as the clear leader in revenue cycle management consultancy and technology. PLANO, Texas, Sept.
Ned Lamont last week signed a bill into law that will prohibit healthcare providers from reporting medical debt to credit agencies and void debt that is reported to credit bureaus. What it Says: The bill prohibits Connecticut healthcare providers, hospitals, and entities affiliated […] Connecticut Gov.
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