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Posts Tagged ‘debt’

Waltham, MA (PRWEB) March 28, 2013

Connance, Inc. (http://www.connance.com), a provider of innovative, predictive analytic-based programs that improve financial performance in healthcare enterprises, has joined the HFMA Healthcare Medical Debt Collections Task Force as a founding member. The goal of the Task Force is to identify a common set of medical debt collection practices that can be standardized for widespread industry adoption that will lead to improvement in the overall collection process, the patient experience, and financial performance resulting in a fair collection process for patients.

Connance was invited to join the task force in recognition of its proven track record of aiding providers and their revenue cycle vendors with self-pay revenue collection. The advisory group will be comprised of approximately 15 20 finance and revenue cycle senior leaders representative of community hospitals, safety net hospitals, academic hospitals, large physician clinics, large healthcare systems and other key stakeholders such as ACA International, credit bureaus and collection agencies, and groups representing patients. We want to thank Connance for their support of this remarkable endeavor, said Richard Gundling, HFMA Vice-President. Forging partnerships with strong leaders like Connance creates new opportunities and exciting new possibilities. We expect that Connance will continue to contribute innovative ideas to the industry and aid the Task Force immensely.

We are very proud to have been invited to be a founding member of the HFMA Healthcare Medical Debt Collections Task Force, said Steve Levin, CEO of Connance. We believe the leadership that HFMA is taking here will be welcomed and we look forward to engaging with other senior finance leaders to help to establish and advocate for medical debt best practices. Healthcare debt is a growing issue for consumers and the more the industry can do to lead and set standards the more we can expect consumers to understand fully their obligations and assume an appropriate level of engagement and responsibility.

The Task Force advisory group will compare current processes of medical debt collections by the various constituents, document workflows from initial bill to closure of account to identify inconsistencies in process and process gaps resulting in negative experience for the patient, as well as identify pros and cons of variations in process flows to support the groups conclusions. Based on these findings, the Task Force will develop a best practice medical debt collection process and ensure that the work flows it develops can be adopted by the majority of healthcare providers and medical debt partners with minimal increase in resource consumption. Then the Task Force will seek input on its research and recommendations from other key medical debt stakeholders representing providers, credit bureaus, collection agencies, and patients.

About Connance, Inc.

Connance brings world-class predictive analytics and insights from hundreds of clinical settings to transform the performance of financial processes at hospitals, physician groups and outsourcing organizations. Connance solutions sustainably increase cash flow, reduce operating costs and improve policy compliance in self-pay, denial management, charity, and outsourcing processes. With clients like Centura Health, Florida Hospital, and Geisinger Health System, Connance is changing the expectations of financial executives. Connance is headquartered in Waltham, Mass. For more information visit http://www.connance.com or call (781) 577-5000.

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Dallas, Texas (PRWEB) December 18, 2012

Dallas Healthcare Debt Collection Agency Debt M.D. was recently highlighted in a D Magazine article for its unique and innovative approach to healthcare debt collections.

The article describes the technology-driven vision Dr. Hubert Fu has for his healthcare collections agency, along with the patient-centered practices he believes will result in better patient-provider relationships and increased ROI for Debt M.D.’s clients.

“We are very excited that one of Dallas’s biggest publications is helping to tell our story,” said Fu, a Dallas anesthesiologist. “The reception and buzz surrounding Debt M.D. in the Dallas/Fort Worth area has been quite noticeable, and we’re extremely pleased with the positive response from the healthcare community.”

The D Magazine article also highlights the fact that Debt M.D. is believed to be the only healthcare collection agency in the U.S. owned and operated by a practicing physician.

“We believe Dr. Fu’s experience as a practicing anesthesiologist and many years in the healthcare industry gives us a tremendous advantage in making healthcare collections,” said Debt M.D. COO Aryn Manning. “He (Dr. Fu) understands the doctor-patient relationship and has seen firsthand the reasons behind people failing to pay their medical bills or falling behind on payments.”

Debt M.D.’s mission and guiding principle was also a major focus of the article.

“Treating people humanely and with respect, we believe, is the only way to successfully get patients to pay their bills,” Dr. Fu said. “People do not plan on going into debt for medical reasons, and when you work with the patient to understand their situation, a reasonable payment solution can usually be found.”

ABOUT DEBT M.D.

Founded by Dr. Hubert Fu, Debt M.D. is a healthcare debt collection agency based in the Dallas/Fort Worth that serves healthcare clients across the U.S.







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Buffett Rule, Tax Reform Law, Greek Debt Crisis, Health Care Plan, Cap and Trade, Dodd-Frank (2012)

thefilmarchive.org February 21, 2012 The Greek government-debt crisis is one of a number of current European sovereign-debt crises. Beginning in late 2009, fears of a sovereign debt crisis developed among investors concerning Greece’s ability to meet its debt obligations due to strong increase in government debt levels.[1][2][3] This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other countries in the eurozone, most importantly Germany.[4][5] The downgrading of Greek government debt to junk bond status in April 2010 created alarm in financial markets. On 2 May 2010, the eurozone countries and the International Monetary Fund (IMF) agreed on a €110 billion bailout loan for Greece, conditional on the implementation of austerity measures. In October 2011, Eurozone leaders agreed to offer a second €130 billion bailout loan for Greece, conditional not only the implementation of another austerity package, but also that all private creditors holding Greek government bonds should sign a deal accepting a 53.5% facevalue loss. This proposed restructure of all Greek public debt held by private creditors, which constituted a 58% share of the total Greek public debt, would according to the bailout plan reduce the overall public debt burden with roughly €110 billion. A debt relief equal to a lowering of the debt-to-GDP ratio from a forecasted 198% in 2012 down to roughly 160% in 2012
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No More Student Debt: How To Break Free Of Your Student Debt
Make Money With The Hottest Topic In America. Over 1 Trillion In Student Loans Outstanding. Millions Are Looking For Information. Constant Split Testing.
No More Student Debt: How To Break Free Of Your Student Debt

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Seattle, WA (PRWEB) July 02, 2012

When Mrs. Ramirez met with American Financial Solutions certified credit counselor Carmen Perales, she and her husband owed $ 30,000 in medical bills. Perales worked with the family to establish a budget and to understand all of their expenses, but that was not all they accomplished.

The Supreme Courts recent ruling in favor of the provisions of the Patient Protection and Affordable Care Act (ACA) (visit our website to learn more), provides multiple benefits for consumers. Free preventative care, no waiting periods for care, and no maximum amount of benefits someone can receive in a lifetime. However, those benefits may come at a higher price for other services. Some insurance companies, medical providers and pharmaceutical companies are struggling to reduce their expenses and find a way to shift their increasing costs to consumers.

Every day, American Financial Solutions (AFS) assists people overwhelmed with medical debt. According to Becky House, Education Director for AFS, Nearly everyone we counsel has some sort of medical debt. If it has not been paid, it shows up on their credit report. If it has been paid, it may be hidden in the debt on their credit cards.

In a study published in 2010 by Demos, a non-partisan public policy research and advocacy organization, and The Access Project, a resource center for local communities working to improve health and healthcare access, households with medical debt carried an average of $ 11,612 in credit card debt. Of that amount $ 2,194 is attributed to healthcare expenses.

In March of 2012, the Centers for Disease Control released a report stating that in 2011, one in three persons was in a family experiencing the financial burden of medical care. One in 5 persons was in a family having problems paying medical bills, 1 in 4 persons was in a family paying medical bills over time, and 1 in 10 persons was in a family that had medical bills they were unable to pay at all.

Mrs. Musgrove came to American Financial Solutions in 2007 looking for help to rebuild her credit after filing bankruptcy to eliminate $ 68,000 in medical expenses. Before the bankruptcy, I was actually borrowing money from family to pay collection agencies. I couldnt keep up with the bills. I wanted to pay for the services, but no one would take payments. They all wanted the entire amount – now. I didn’t know there was help available.

As for the Ramirez family, their story ended very differently. After reviewing the familys financial situation, Ms. Perales encouraged them to contact the hospital to whom they owed money and seek charity care or financial assistance. They did and based on their income and family size, the Ramirezes qualified for charity care and the entire debt was eliminated.

Both of these families provide an example as to why it is important to know your medical debt repayment options.

As shown in the Ramirez case, resolution of medical bills does not have to end in bankruptcy or with accounts sent to collection agencies. American Financial Solutions recommends exploring all options for handling the debt. Below are some tips:

1.

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(PRWEB) May 22, 2012

Heritage Bank today announced the launch of new ASX-listed debt securities, to be known as Heritage Bank Retail Bonds, to raise approximately $ 125 million.

Heritage Bank Retail Bonds are five-year, senior, unsecured bonds which will pay interest at a fixed rate of 7.25% on a quarterly basis. Australia Ratings has assigned a ‘BBB+’ credit rating and ‘Green’ product complexity indicator to Heritage Bank Retail Bonds.

This is the first issue of senior, unsecured bonds to be listed on the ASX by a mutual bank in Australia. Full details of this issue are contained in an Offer Document lodged with the ASX today.

Heritage Bank intends to raise $ 125 million from this offer, with the ability to raise more or less. The offer is being made as part of Heritage Bank’s ongoing liquidity management and funding strategy.

The Retail Bonds issue follows the successful ASX-listed Heritage Notes placement in October 2009, which was three times over-subscribed and raised $ 50 million in subordinated, unsecured debt securities.

Heritage Bank Chairman Mr Brian Carter said the Retail Bonds offered retail investors the opportunity to diversify their portfolio with a simply structured debt instrument that provides a fixed rate yield.

“The Heritage Bank Retail Bonds offer an attractive interest rate backed by the strength and stability of Heritage Bank.

“This offer demonstrates Heritage Bank’s commitment to diversifying its funding sources, its prudent approach to liquidity management and its continued focus on providing investors with high quality products that offer excellent value.

“This transaction continues the high level of innovation and sophistication that Heritage Bank demonstrates in managing its funding mix,” Mr Carter said.

The Offer is now open and comprises:


Member Offer made to Eligible Members of Heritage Bank;
General Offer made members of the general public who are resident in Australia;
Broker Firm Offer made to Australian resident retail or high net worth clients of Syndicate Brokers; and
an Institutional Offer to Institutional Investors.

Institutional investors may participate in the offer by contacting the Joint Lead Managers. Commonwealth Bank has been appointed as Arranger and Joint Lead Manager for the offer. Evans and Partner and UBS have also been appointed as Joint Lead Managers. The bookbuild will be conducted on Thursday 24 May 2012 and will be a volume only bookbuild.

The closing date for the Member Offer and the General Offer is 5.00pm (Queensland time) on 13 June 2012. The Broker Firm Offer is scheduled to close at 10.00am (Queensland time) on 19 June 2012.

The minimum investment in Heritage Bank Retail Bonds is $ 5,000 and thereafter in multiples of $ 1,000.

Further information on the offer is available by calling the Heritage Bank Retail Bonds Information Line on 1300 558 416 (within Australia) or by visiting heritagebankretailbonds.com.au.

About Heritage

Queensland-based Heritage Bank has been meeting its customers financial needs for more than 136 years. Heritage is now Australias largest customer-owned bank, with more than $ 8 billion in assets, 58 branches and 70 mini-branches across southern Queensland, and with offices servicing home loan customers via mortgage brokers right across Australia.

Heritage offers the full suite of banking products including home loans, personal loans, savings accounts, term deposits, credit cards, insurance, financial planning, business banking and foreign exchange. Heritage also offers members access to a network of more than 2900 ATMS around Australia.







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Hospital patients waiting in an emergency room or convalescing after surgery are being confronted by an unexpected visitor: a debt collector at bedside.

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Olivebridge, NY (PRWEB) January 1, 2010

This January, millions of financially stressed Americans will be making resolutions to reduce debt. Unfortunately, though, some of them owe so much that tightening their belts just won’t work, even if they found the discipline to stick with a careful budget. “For some, extreme debt reduction programs may be the only route back to financial health,” reports Gerri Detweiler, co-author of the e-book Reduce Debt, Reduce Stress: Real Life Solutions for Solving Your Credit Crisis (Good Advice Press, 2009, $ 14.95).

How do you know when drastic measures may be needed to reduce your debt? Here are some warning signs:


You’re on a bare bones budget, but still don’t have enough money to pay your bills.
You’re thinking about withdrawing money from retirement accounts to reduce credit card debt or to pay other bills.
You’ve missed at least one car and/or mortgage payment.
You’re afraid to answer the phone, fearing it will be another call from a creditor or debt collector.

If any of these warning signs apply to you, it’s time to see a specialist and get expert help managing your debt. Extreme debt diet options include:

Credit Counseling. The financial equivalent of a “packaged meal plan.” credit counseling agencies take decisions out of your hands by setting up a debt management plan for you. After closing all of your credit card accounts, you’ll make one monthly payment to the agency, which in turn will pay participating creditors. The big advantage of this option is that, with no open credit cards, you won’t be tempted to binge and take on more debt while you’re trying to dig out.

Unfortunately, just as diet plans can be hard to follow, credit counseling can be hard to stick with for the three to five years it’ll likely take to pay off what you owe. Make sure the payment plan is realistic, and something you can stick with.

Debt settlement and bankruptcy. These options represent the “bariatric surgery” approach to debt reduction. In other words, they’re drastic measures, but they may be necessary for people who have so much debt that it is jeopardizing their financial health. “Debt settlement and bankruptcy will leave you with scars,” warns Reduce Debt, Reduce Stress co-author Marc Eisenson, “But the damage to your credit history may be the price you need to pay to become debt free.”

“One solution doesn’t fit all,” explain Detweiler and Eisenson. Their book, Reduce Debt, Reduce Stress, starts with a “debt diagnosis,” then lays out the pros and cons of all the options for getting out of debt, including do-it-yourself debt repayment plans, debt consolidation, credit counseling, debt settlement and bankruptcy. The book includes real-life stories from people who have successfully used these approaches to get out of debt. Readers will also get advice for finding reputable agencies who can help them achieve their goal of becoming debt-free.

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The National Health Service Corps has more than tripled its members in the past three recession-fueled years.The program helps would-be primary care doctors, nurses and dentists pay for training — and repay medical debt — in exchange for working in rural areas.

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Government health benefits for some 9 million of the sickest and poorest U.S. citizens will come under scrutiny from the congressional “super committee” seeking to cut the nation’s debt.

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