Category Archives: Industry News

An Ode to The Importance of Consumer Data

By: W. Judd Peak, corporate compliance officer of Frost-Arnett Much talk occurs regarding consumer data – namely, the critical importance of accuracy, completeness and timeliness of data. This is especially true in the revenue cycle business. Obviously, accurate, up-to-date consumer data makes collections quicker and better – contacting consumers is a prerequisite to collecting money… Read More

FCC Ruling on Mobile Dialing Greatly Affects Collections

SYNOPSIS In order to maintain the highest collection efficiency and maximize recoveries, creditors need to ensure they obtain, in writing, the consent of patients to communicate with them and their collection agencies for billing and payment purposes via their cell phone. With prior express consent of the patient, Frost-Arnett would be able to utilize all… Read More

Consumer Financial Protection on Bureau’s New Focus on Medical Debt Collection

By: W. Judd Peak, chief compliance officer of Frost-Arnett What a difference a year makes in the debt collection industry. The Consumer Financial Protec on Bureau or CFPB (the federal agency charged with oversight of financial activity, including debt collection and accounts receivable management) has shifted focus from home mortgages and lending and has now… Read More

CFPB Releases Research on Impact of Medical Debt on Consumer Credit Scores

ACA supports credit reporting reform efforts for medical debt, but believes debt collectors should not be the only focus. Recent research released by the Consumer Financial Protection Bureau shows that consumers’ credit may be overly penalized for medical debt that goes into collection and shows up on their credit report. According to the study, credit… Read More

Medical Identity Theft Is One The Rise

Identity thieves are increasingly looking beyond stealing identities to open credit card and other financial accounts. In recent years, using stolen identities to obtain medical treatment, prescription drugs and insurance reimbursements has become a growing trend. Medical-related identity theft reported in 2013 surpassed crime rates related to stolen banking, finance, government, military or education information,… Read More