The Time Has Come: 501r reporting is here
As a community, we’ve all become familiar with the regulations surrounding 501r. Most hospitals have been complying with a reasonable, good-faith interpretation of the statute since it was announced on December 29, 2014. Now that the reporting period is upon us, State Collection Service hosted a webinar to review the statute as it specifically relates to Extraordinary Collection Actions, or ECAs, on March 24.
During this informative session, Mark Rukavina, principal of Community Health Advisors, LLC, walked through the definition of ECAs, the actions non-profit hospitals must be taking to ensure compliance with such actions and how any violations must be reported. While everyone is familiar with the concepts of the regulations, Mark walked through the specific requirements, including details that may require additional consideration. One such example is the requirement of refunding monies of those individuals who fill out a credit application and are approved for financial assistance. Specifically, Mark reinforced the importance of certain language within your financial assistance policies when it comes to Presumptive Eligibility.
The timing of this webinar was particularly important as a large number of providers were required to be in compliance by January 1 of this year; those with tax years beginning in later months will soon be required to be in compliance.
Mark Rukavina is principal of Community Health Advisors, LLC, Boston. He has more than 25 years of experience working on healthcare issues. In his current capacity he provides assistance on issues related to financial assistance, billing and collection, and community benefit requirements for tax-exempt healthcare providers.
Mark has testified before US Congressional committees and has published research and policy briefs. He is a member of HFMA’s Massachusetts – Rhode Island chapter. Mark has spoken on this topic at numerous conferences across the nation.
If you didn’t have an opportunity to join us during the live webinar, head over to our website to listen to the recording.
About State Collection Service, Inc.
Since 1949, State Collection Service has provided quality collection service to countless healthcare organizations.
Through experience and innovation, State Collection Service has grown to become a tremendously credible and nationally-recognized collection agency offering services from pre-registration to bad debt. It is upon the basis of ethical behavior and a dedication to integrity that each State Collection Service employee works to uphold the company’s vision – Partnerships for a Lifetime.
*This article first appeared in “A State Collection Service, Inc. Newsletter Volume 22, Issue 2, Second Quarter 2016”