Everyday, there are legal rulings, compliance bulletins, bills that become law, and other updates released by regulators and lawmakers. Those updates often detail what can and can’t be done, but rarely do they provide the how. Companies in the accounts receivable management industry are often left to their own devices to determine what they need to do — if anything — to comply with the myriad of new rules and regulations that are being issued more frequently than ever before, it seems. To that end, AccountsRecovery.net is excited to launch a new feature, called “The Narrative.”
“The Narrative” is an opportunity for those in the accounts receivable management industry to hear from experts on the most important news of the day. But it is more than just telling you what the news is: the objective of “The Narrative” is to provide ideas and insights that help you figure out what to do in reaction to that news.
The debut episode of this new series features Leslie Bender from Clark Hill and John Bedard from Bedard Law Group discussing a recent bulletin issued by the White House on the medical debt burden faced by many Americans. This is likely the first time that the White House has made comments directly addressing the accounts receivable management industry, so it definitely qualifies as big news. But, if you’re collecting medical debt, what should you do about this? Something? Anything?
Leslie and John do an amazing job of breaking down this news and providing ideas to help you determine what you should do about it. For example, the bulletin from the White House increases the importance of collectors conducting due diligence on their clients, to understand how those debts were created and that they are accurate. This could come in the form of improved communication and collaboration between revenue cycle departments at hospitals and healthcare providers and companies in the credit and collection industry to make sure that all the information is being verified.
Check out the video for more great insights from Leslie and John.