Is the new Florida bill on healthcare debt collection giving you a headache? Don’t worry, Capital Recovery Corp can help you understand and navigate this new legislation!
Background
First, a little background: both houses of the Florida legislation recently passed a significant bill aimed at regulating healthcare debt collection practices.
Overview of the law
Here’s a brief overview of what the bill entails:
- Shortened Collection Window: The bill reduces the timeframe for collecting unpaid medical debts for services provided by licensed facilities in the state from five years to three years.
- Definition of Extraordinary Collection Action: The bill sets clear parameters for what constitutes “extraordinary collection action.” This includes actions such as selling the debt to a third party, reporting the individual to a credit agency, deferring or denying necessary medical care due to outstanding debt, and engaging in legal or judicial processes to collect debts.
- Protections for Individuals: Facilities are now prohibited from taking extraordinary collection actions until they have made reasonable efforts to determine the individual’s eligibility for financial assistance programs. Patients must also be provided with a notice at least 30 days in advance of any collection action, allowing them an opportunity to address the debt.
What this means to you
Given these changes, it’s crucial for your business to adapt its strategies to comply with the new regulations. Capital Recovery Corp can assist your business in navigating these changes effectively! We specialize in compassionate healthcare debt collection and are well-versed in the latest industry regulations. Our team can work with you to ensure compliance and develop tailored solutions to address any challenges that may arise.
Schedule a complimentary consultation to learn how working with CRC can benefit your business. Our experienced team can help you navigate the parameters of this new bill and achieve outstanding results.