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New Medical debt collection Rules: What Rcm Teams Need To Know Now
The Consumer Financial Protection Bureau (CfPB) has recently intensified its focus on medical debt collection, enacting new rules that target practices like double billing and inflated charges. this development poses both challenges and opportunities for revenue cycle management (Rcm) teams. Understanding and adapting to these changes is crucial for maintaining compliance and optimizing patient financial experiences.
For Rcm teams, mastering clean and accurate medical billing isn’t merely about adhering to regulations; it’s about cultivating trust with patients and ensuring the financial health of healthcare organizations.
Why is The Cfpb Focusing On Medical Debt?
Medical debt remains a important financial burden for millions.The CfPB is addressing concerns that inaccurate billing practices contribute to this burden, leading to undue consumer harassment for debts they may not actually owe. This scrutiny aims to protect patients from unfair collection practices and promote greater accuracy in medical billing.
Practices Under The Microscope
The CfPB is actively targeting several specific medical debt collection practices that it deems illegal or unethical:
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Double Billing: Attempting to
