Medical Collections have always been an area with huge recovery potential as well as unique challenges. Passing of HIPAA regulation in 1996 led to complete restructuring of how the medical debts were handled.
As HIPAA has more clout then FDCPA, majority of the collection agency shied away from handling medical debts. Even organization owning the medical debts had to restructure their approach towards collection.
In addition to just change in framework, most the medical bills gets converted into medical debt due to delays in clearing the paperwork associated with claim processing from Insurance. This delay lead to a fluid situation where it’s hard to fix responsibility of bill payment on patient or insurance carrier & as well as total amount of bill being collected due to differential prices which are charged for a treatment from an insurance carrier to a carrier & public at large.
All this led to a situation where medical organizations were accumulating billions of dollars in medical debt every year with lesser number of player in the industry inclined towards working medical debt.
National Asset Management recognized this precise challenge being faced by the owner of Medical Debt & has dedicated itself towards servicing this niche market.
National Asset Management have structured itself uniquely to handle medical debts.
Unlike majority of collection industry which has a short term approach towards handling a debt; which resolves more towards working on a set of accounts for some amount of time & then switching to a different set of account, NATIONAL ASSET MANAGEMENT prefers to have a long term approach.
We keep an account for a considerably longer duration of time in which allows us to
We have invested considerable resource into training out collectors to understand the complexities of medical billing. Our Collectors are fully versed with how medical community & how medical system works in America. They are all FDCPA certified with knowledge of HIPAA. Our data handling is completely HIPAA compliant. This ensures that the twin holy grails of HIPAA & FDCPA for medical collections are always followed.
Our Collectors understand the billing timeline all the way from invoice generation to collections. Most importantly they understand & also make consumers understand that they are in collections mostly due to delay or disputes in paperwork due to which there accounts do not get cleared by the insurance on time & they end up getting effected due to it.
"Medical collection is just one of the verticals for which we provide service. For more information about our other consumer and commercial collections programs please visit us at www.nationalmanagement.net."