Account Recovery

JUNE 28, 2024

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.

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Healthcare Accounts Receivables Management 130

Account Recovery

AUGUST 14, 2024

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.

Healthcare 130

Healthcare Collections 130

Account Recovery

AUGUST 1, 2024

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.

Healthcare 130

Healthcare 130

Account Recovery

JANUARY 24, 2023

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.

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Healthcare 246

Account Recovery

MAY 2, 2024

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.

Healthcare 130

Healthcare 130

Account Recovery

MAY 10, 2022

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.

Startups 240

Startups Healthcare 240

Account Recovery

SEPTEMBER 23, 2022

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.

Healthcare 244

Healthcare 244

Account Recovery

NOVEMBER 23, 2021

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. (..)

Healthcare 246

Healthcare Collections 246

Account Recovery

DECEMBER 5, 2022

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.

Healthcare 246

Healthcare 246

Account Recovery

NOVEMBER 14, 2023

Healthcare affordability is beginning to impact not just those without health insurance or those who don’t make a lot of money.

Healthcare 147

Healthcare 147

Account Recovery

JUNE 8, 2021

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 (..)

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Healthcare Collections Debt collector 246

Account Recovery

DECEMBER 29, 2023

More revenue cycle management units at hospitals and healthcare providers are automating some portion of the revenue cycle operations, according to the result of a nationwide survey that was conducted through the Healthcare Financial Management Association.

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Healthcare 130

Account Recovery

DECEMBER 20, 2022

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.

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Healthcare 245

Account Recovery

AUGUST 22, 2022

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.

Healthcare 246

Healthcare Collections 246

Account Recovery

DECEMBER 13, 2021

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.

Healthcare 245

Healthcare Collections 245

Account Recovery

AUGUST 30, 2022

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.

Healthcare 246

Healthcare 246

Account Recovery

JANUARY 18, 2023

17, 2023 — Wakefield, a leading healthcare revenue cycle solutions company, announced today that Healthcare Receivables Group (HRG) has joined the Wakefield organization. AURORA, Colo.,

Healthcare 246

Healthcare 246

Account Recovery

NOVEMBER 29, 2022

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.

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Healthcare Consumer Credit 238

Account Recovery

OCTOBER 27, 2023

The Commonwealth Fund released a report yesterday on healthcare affordability, which is based on a survey it conducted of more than 6,000 consumers nationwide. Many Americans are struggling to afford healthcare and one-third of the survey’s respondents said they were overwhelmed with medical debt.

Healthcare 147

Healthcare 147

Account Recovery

NOVEMBER 30, 2023

Almost three-quarters of individuals can’t or don’t pay their healthcare bills immediately, and among those who wait, not having enough money to pay the bill is the biggest reason why, according to the results of a nationwide survey that were released earlier this week.

Healthcare 147

Healthcare Collections 147

Account Recovery

AUGUST 9, 2021

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.

Healthcare 246

Healthcare 246

Account Recovery

NOVEMBER 17, 2023

In the evolving landscape of healthcare, financial health is paramount. For healthcare organizations, maintaining a balance between high-quality care and cost efficiency is crucial. Understanding and improving financial performance hinges on key performance indicators (KPIs) within the healthcare revenue cycle.

Healthcare 130

Healthcare 130

Account Recovery

JANUARY 4, 2023

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.

Healthcare 244

Healthcare 244

Account Recovery

DECEMBER 16, 2022

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.

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Healthcare Collections 246

Account Recovery

JUNE 7, 2021

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.

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Healthcare Collections 246

Account Recovery

MAY 3, 2021

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.

Healthcare 246

Healthcare 246

Account Recovery

DECEMBER 20, 2021

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.

Healthcare 245

Healthcare 245

Account Recovery

FEBRUARY 27, 2024

Philadelphia, PA – February 22, 2024 – Corporate Advisory Solutions (“CAS”) is pleased to announce the successful completion of the acquisition of “Project Heat,” a group of healthcare assets from New York-based CCMR3 by Professional Credit, a Tonka Bay partner company. The acquisition […]

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Healthcare Acquisition 130

Account Recovery

NOVEMBER 6, 2023

million settlement has been reached in a debt collection case involving two healthcare providers. In a case that has been winding through the legal system for more than eight years, including two trips to the Court of Appeals for the Sixth Circuit and back, a $3.5 The Background: Back in 2015, the plaintiffs filed suit, […]

Healthcare 147

Healthcare Collections 147

Account Recovery

FEBRUARY 21, 2024

A healthcare provider in Colorado is facing public pressure and accusations that it is hiding itself from public scrutiny because collection lawsuits filed to recover debts owed by its patients are filed by collection agencies working on the provider’s behalf, thus keeping the provider’s name out of the legal spotlight, according to published (..)

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Healthcare Collection Agencies Collections Agency Collections 130

Account Recovery

APRIL 10, 2023

Healthcare providers are very interested in outsourcing more of their revenue cycle management functions, to help them offset shortages in staffing, make improvements in patient experience, and to create a more retail-like experience for their patients, according to the results of a survey conducted by CWH Advisors and sponsored by CareCredit.

Healthcare 130

Healthcare Retail 130

Account Recovery

OCTOBER 13, 2022

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.

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Collections Agency Collection Agencies Healthcare Collections 244

Account Recovery

MARCH 28, 2022

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.

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Healthcare Collection Agencies Collections Agency Collections 236

Account Recovery

OCTOBER 19, 2020

More hospitals and health systems are incorporating technology that automates tasks into their operations, but the amount of automation being deployed within an organization appears to be tied to the amount of revenue being generated by the company, according to a survey of healthcare financial managers.

Healthcare 246

Healthcare 246

Account Recovery

FEBRUARY 26, 2021

A bill advanced in the Oklahoma state legislature yesterday that would prohibit healthcare providers from reporting unpaid debts to a credit reporting agency or placing them with a collection agency unless the patient was provided with a “good faith estimate” of the cost of the services prior to them being rendered.

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Healthcare Collections Collection Agencies Collections Agency 211

Account Recovery

MARCH 5, 2024

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 […]

Healthcare 147

Healthcare Collections 147

Account Recovery

NOVEMBER 16, 2020

Healthcare providers are overhauling their patient collection operations, according to the results of a survey conducted by the Healthcare Financial Management Association, with 88% of the respondents saying COVID-19 has impacted their collections approach in some way and 18% saying the coronavirus has impacted their approach in every way.

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Healthcare Collections 225