Equifax, Experian and TransUnion are making sweeping changes to how they report medical debt in collections beginning this summer.
Beginning in July, the companies will remove medical debt that was paid after it was sent to collections. These debts can stick around on a consumer’s credit report for up to seven years, even if they are paid off.
New unpaid medical debts won’t get added to credit reports for a full year after being sent to collections.
The firms are also planning to remove unpaid medical debts of less than $500 in the first half of next year. That threshold could rise, according to people familiar with the matter.
Sign up for YOUR specialty seminar TODAY… TO AVOID BILLING & CODING ERRORS in 2023!
Highlights: Medicare Updates 2023, NEW E&M Guidelines, NEW documentation guidelines for diagnostic testing, Missed coding opportunities, bundling and more!
Online:
Will be held using WebEx
Visit the link below to sign up and check out our upcoming seminars:
https://medicarecoding.com/annual-seminar/
Lorraine Molinari
Queen Bee of Medicare
Recent Comments