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What Health Care Changes Mean for Your Collection Agency

February 22, 2013

Health Care Changes Affect Debt Collection

Some federal changes to health care regulations are affecting several industries, including, of course, health care providers. But the agencies most affected aren’t providers — it’s their partners, such as collection agencies.

The U.S. Department of Health and Human Services last month released what’s called the omnibus regulations package, which contains a slew of changes in the way healthcare information is handled. The changes could cost more than $225 million to implement, according to DHHS. Business associates will now be “directly liable for compliance,” according to HHS. The federal agency estimates that up to 400,000 business associates will be required to ensure they have achieved security rule compliance.

Overall, it’s hard to say how these changes may affect your business and ours. Still, we know our main challenge will be the extra cost and time required to achieve these new compliance requirements. Some estimate that collection partners might be required to spend as much as $113 million to comply with these new regulations.

Compliance has always been a top priority here at PRC (Revco Solutions), where we maintain an infrastructure dedicated to continuing education for our staff. While we don’t know yet how it will impact contingency fees in our industry to meet these new regulations, we will remain committed to serving our clients by being the best in our field.

Affiliations Audits & Achievements

  • HFMA: Healthcare, financial, management, association
  • AAHAM: American Association of Healthcare Administrative Management
  • ACA International

Revco Solutions Locations

Durham, NC (Corporate Headquarters)

2700 Meridian Parkway
Suite 200
Durham, NC 27713

Oradell, NJ

800 Kinderkamack Rd
Suite 206 North
Oradell, NJ 07649

Jacksonville, FL

7016 AC Skinner Parkway
Suite 160
Jacksonville, FL 32256

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1161 E Clark Road
Suite 240
Dewitt, MI 48820

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6450 Poe Ave
Suite 301
Dayton, OH 45414

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250 E Broad Street
4th Floor
Columbus, OH 43215

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5807 N 102nd St
Omaha, NE, 68134

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9339 Priority Way West
Suite 120
Indianapolis, IN 46240

Austin, TX

Financial Corporation of America (FCOA)
A Revco Management Company
12515 Research Blvd., Suite 200
Austin, TX  78759