Helping You Stay Compliant with Changing Colorado Patient Billing Regulations
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The patient billing environment presents new challenges for providers in helping their patients afford the care they need within regulatory guidelines, while also maintaining revenue vital to serving their communities. Colorado’s recently passed bill Health-care Billing Requirements for Indigent Patients (HB 1198) creates new challenges for providers and traditional billing and collection practices:
Lays down requirements for indigent patients receiving services not reimbursed by the Colorado indigent care program.
Establishes procedures for initiating collections against a patient.
Medical creditors (including the provider) cannot use impermissible extraordinary collection actions to collect debts owed for hospital services.
Partnering with a patient financing vendor like CarePayment that offers a compassionate solution that is already compliant with new and proposed legislation helps patients pay for their healthcare and increases collections for providers. CarePayment can partner directly with Colorado providers to ensure that payment plans are consistent with all rules outlined in HB 1198:
We never charge interest. CarePayment is always 0.00% APR over the entire life of the loan.
We are not a debt collection agency. We do not engage in any extraordinary collection actions, nor do we sell medical debt to other companies.
All payment-related communications come directly from CarePayment. If needed, we can give patients notice that extraordinary collection actions may be coming.
Our patient-specific and adjustable repayment terms make it easily to stay within regulatory limits, such as not exceeding 36 monthly payments for qualified individuals.
To learn more about CarePayment’s fully compliant patient financing solution and how we can help navigate new Colorado-specific regulations, schedule a demo and a CarePayment expert will be in touch soon.
