How collection agencies can work with their clients on Reg F compliance.
As accounts receivable management (ARM) industry professionals make final preparations for Reg F compliance before Nov. 30, there are long-term takeaways to remember when it comes to health care collections and communication with clients and consumers.
In the ACA International 2021 Fall Forum session Managing Client Communications—Reg F Communication for Dummies, speakers Jack Brown III, president Gulf Coast Collection Bureau of Tim Haag, president of State Collection Service Inc., and Courtney Reynaud, president of Creditors Bureau USA, discussed tips and suggestions on how to communicate what creditors need to know about Reg F and its impact on their revenue cycle.
For Reynaud, it started with email communications with clients when Reg F was released and engaging with them on the front end to determine their needs and expectations.
For many, the last year has been about drilling down into the itemization date and helping clients navigate challenges with Reg F, such as the application of consent requirements to enable the debt collector to communicate with the consumer via text, email, and social media platforms. Brown said one of the key takeaways is that you can never overcommunicate with your clients.
The speakers found that communication opens you to opportunities to learn about clients’ other preferences and questions.
It’s also a good reminder to review those expectations regarding Reg F during your next compliance audit with your clients. READ MORE HERE