New Debt Collection Practices (Regulation F) rules go into effect November 30, 2021.
Are you prepared?
- These new debt collection rules finalized by the Consumer Financial Protection Bureau (cfpb) require significant action be taken by healthcare providers before November 30, 2021.
- Rules 1 & 2 focus on Communication and Disclosure and require providers make process and documentation decisions and provide the necessary information to their collection agencies.
- Failure to do so results in compliance risks, legal exposure, or the cessation of debt collection.
Download our Market Update to get the latest information on Debt Collection Practices (Regulation F) final rules.
Savista is proactively addressing Regulation F with our Bad Debt clients
To eliminate significant downtime in collections, we are:
- Requesting the requisite data elements to comply with Regulation F from our clients.
- Mailing validation notices upon placement; complying with initial communication requirements.
- Sending a MVN utilizes the protections the template affords our clients and us.
- Launching electronic disputes
We assist our clients in navigating one of the biggest challenges in healthcare—revenue cycle management, by providing operational transformation services and insights to acute and ambulatory facilities and systems.