501R

501r Compliance and Regulations

The Affordable Care Act (ACA) added new requirements that hospitals must comply with to keep their tax-exempt status under 501r. Americollect is here to help! On this page you will find:compliance checklists

If you have any questions in regards to this content please email Shawn Gretz at shawn@americollect.com.

Sample Collection Policy

Compliance Checklists Below:

501r Recorded Webinars

501r (4) Financial Assistant Policy – Recorded Webinar

501r (6) Extraordinary Collection Actions – Recorded Webinar

501r Reasonable Efforts:  

    1.  At Least Three Statement: Send billing statements with conspicuous written notice about financial assistance.
    2.  Plain Language Summary: Mail a plain language summary with only one post-discharge communication.
    3.  Final Notice – Written notice to state a deadline after which the identified ECA(s) (extraordinary collection actions) may be initiated.
    4.  Oral Notification – Orally notify patients about financial assistance at least 30 days before ECAs.

These “reasonable efforts” are to be spelled out in the billing and collection policy as well as the timeline for usage by the health system.

This article will go into detail on how to accomplish the reasonable efforts.

Americollect is offering FREE Financial Assistance and Billing and Collection policy reviews. To take advantage of these free reviews, just email your policies to Shawn@americollect.com

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