New rules issued late in 2014 by the Treasury Department and the IRS require nonprofit hospitals to offer discounts, free care, or other financial assistance to some patients. According to these new rules, hospitals must try to determine if a patient is eligible for financial assistance before attempting certain collections tactics such as referring to a debt collector, reporting negative information to a credit agency, filing a lawsuit, and more. Some believe these new rules might set an industry standard even for for-profit hospitals because the rules were also endorsed by the Consumer Financial Protection Bureau.
AccuReg provides a solution that automatically performs financial screening and payment estimation prior to service, using the hospital’s rules and financial assistance policies to subsequently guide registrars in exactly how to handle each account – whether it is to offer a discount, charity care, payment plan, collect-in-full, convert to another payment source, etc. AccuReg can help enforce that employees are following the rules you put in place to follow regulations and avoid negative consequences. Click here to get in contact with one of our experts who can share with you how this works.