April 06, 2016 at 12:17 PM
We all know what spring cleaning means – hard work! It means looking under furniture, digging deep into the corners and tossing out accumulated junk. It’s rewarding. There is a sense of a job well done.
Businesses benefit from spring cleaning too. Not just the cleaning of office space! Have you reviewed your processes? Revised your business plan? Updated your marketing plan and budget? Reviewed vendor contracts/pricing? Day to day tasks of running a business mean these often don’t get done. Spring is as good a time as any!
As a collection agency we are bound by FDCPA (Fair Debt Collection Practices Act) regulations. Over 60% of our clients are healthcare providers, so we are also bound by HIPAA regulations. Here is a list of some of our “spring cleaning” activities:
Collector Training Plan. We have established a calendar and training modules for our collectors so they can stay current on regulations.
Review of our internal compliance checklist. Compliance includes security of our office (such as locked files and password protected computers) and other processes, such as encryption of personal information sent via email.
Internal review of client records. Our goal is to provide quality service and optimal recovery of monies. By reviewing clients’ submission processes and history, we have a better understanding of our clients and can work with them to optimize the collection process and recovery rates.
Review listing agreements and Business Association Agreements (BAA) for healthcare providers. The HIPAA Final Omnibus Rule, effective September, 2013 created new compliance obligations. As a partner in AR Management, PCS offers many resources. You can find an up-to-date BAA on our website on the Healthcare page. We can work with you to update your BAA with Professional Collection Service.