Category Archives: Industry News

July 2017 NMGMA: Ten Minute Takeaway

George Buck The second Tuesday of each month, practice managers and healthcare industry service providers gather at KraftCPA headquarters for the monthly Nashville Medical Group Management Association (NMGMA) meeting. During the June luncheon, George Buck, president emeritus of Frost-Arnett, discussed regulatory compliance issues facing the accounts receivable management (ARM) industry and what providers need to… Read More

Market Matters: What’s the Future of Collections Regulation?

By: W. Judd Peak, Corporate Compliance Officer of Frost-Arnett The election of Donald Trump as President-Elect and retention of Republican majorities in Congress signal an uncertain (and possibly unexpected) future for regulation of the credit and collections industry. One of the primary governmental enforcers, the Consumer Financial Protection Bureau (CFPB), is likely to encounter heightened… Read More

15 ARM Industry Experts React to CFPB Outline of Proposed Debt Collection Rules

Last Thursday, at a Field Hearing on Debt Collection held in Sacramento, the Consumer Financial Protection Bureau (CFPB) released it long awaited Outline of Proposed Debt Collection Rules as it begins the Small Business Regulatory Enforcement Fairness Act (SBREFA) process. See our July 28, 2016 article. We asked several industry experts to give us their… Read More

Washington Insights

By: W. Judd Peak, corporate compliance officer of Frost-Arnett Last month, I had the privilege to travel to Washington, D.C. to meet with various members of Congress to discuss laws and regulations affecting the revenue cycle management industry. In one-on-one meetings, we conferred over the overreach of federal statutes and enforcement agencies that often tend… Read More

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