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Regulation F Collections

Regulation F’s Impact on Collecting Multiple Medical Debts

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McKay Bird

Chief Marketing Officer

What is one of the largest areas of concern related to Reg F and the overall impact on the ARM industry and medical collections?

Change in Communications Practices One of the biggest concerns with collecting medical debt is how collectors will be communicating with debtors. While the new Reg F rule provides clarity to newer communication channels such as email, SMS, and voicemail, many have been slow to implement these channels because of legal uncertainty. With time, organizations will continue to adapt and allow consumers more choice of when and how to communicate with a debt collector.

7-in-7 Rule One of the most noticeable changes is the seven in seven rule, which says: A debt collector is presumed to comply with the CFPB’s rules if it does not place a call to a particular person more than seven times within seven consecutive days.

Work Backwards Be more involved and look at the model validation notices. Helping and training your agents to use model validation notices will reduce consumer confusion. Healthcare and medical collections can be hard to get ahead of, but as you move work backward, you will get headway and traction as you drive more efficient processes upstream. 

Watch the entire webinar replay to learn how you can get better insights into best practices on collecting medical debt under Reg F, urging debt collectors to use model validation notices, and how the ARM industry is being impacted.

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