The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
PLAINTIFF WINS $10 MILLION IN FDCPA LAWSUIT
- A New Mexico man was awarded $10 million in punitive damages after he sued a collection agency for allegedly violating the Fair Debt Collection Practices Act and “stole” the man’s savings for a debt that was “decades past the statute of limitations. The collection agency, Financial Credit Services, which is also known as Asset Recovery Associates, did not have an attorney present during the trial. The company was also not licensed to operate in New Mexico at the time the calls were made to the plaintiff, according to the plaintiff’s lawyer.
HEALTHCARE COMPANIES CAN LOSE UP TO 30% OF CLIENTS WHEN SENDING BILLS TO COLLECTIONS
- A couple of interesting stats and factoids in this article about why healthcare providers are not allowed to waive the copayments when the patient is on Medicare. Waiving the copayment is technically a form of healthcare fraud, and should not be allowed. Also, a healthcare organization that sends bills to a collection agency can expect to lose up to 30% of those patients, according to the article. While the article does not provide a source for that statistic, it is something that agencies must consider when collecting on behalf of healthcare companies — patients are customers, too.
MEDICAID EXPANSION RESULTS IN FEWER MEDICAL BILLS BEING SENT TO COLLECTIONS
- Expansion of Medicaid under the Affordable Care Act has reduced the amount of medical debt and the number of bills being sent to third-party collections, according to a study conducted by the National Bureau of Economic Research. The average decrease in unpaid balances was between $600 and $1,000 for those who are now able to be covered Medicaid as a result of the ACA.
WORTH NOTING: Financial stress is equivalent to suffering from Post-Traumatic Stress Disorder (PTSD) … Companies are getting better at marketing to wealthier consumers … Eight traits of the most confident people … Students at schools with slow or inconsistent Internet access perform worse than students at school with better connections … Three ways to win a negotiation before even saying a word … Netflix vs. Amazon – who has the best videos … 10 professional jobs that are threatened by big data … Gas prices have gone up eight cents in two weeks … A university has created a major in “brewing” beer … 17 middle class jobs that are disappearing.
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
