Legislative sessions are active nationwide on both the federal and state levels, and the collection industry is once again a hot topic within newly introduced bills. Many of these bills focus on healthcare and the collection of medical debt; therefore, Meduit’s team is closely following the progression of these bills. We know the negative impact some bills could have on the future of collections, and while we cannot control the outcome, we are doing more than just watching from the sidelines.
Meduit is working to communicate and advocate regarding the bills that would have negative and positive impacts on our clients and our agencies. Internally, we are holding cross-departmental meetings to review and determine the challenges each piece of legislation would present. Through emails, phone calls, and in-person meetings, Meduit is speaking out to state and federal legislators to educate them on the negative unintended consequences these pieces of legislation can and will have on their constituents.
In partnership with our industry organization, ACA International, we send representation to Washington DC and individual states throughout the year to meet with senators, members of Congress, and officials from agencies such as the CFPB. While in these meetings, we speak about the impact pending bills have on businesses and employees; to the future of healthcare services for individuals; and focus on showing the positives that are fed into our economy and communities from ensuring that all forms of extended credit and debt continue to be collectable from consumers. By talking through the crucial sections of specific bills, we are taking action that has had a proven impact on the final language of signed legislation.
There is a balance that must be maintained between what sounds great as political buzzwords to voters and what will impact our economy, healthcare, and businesses in the long term. Meduit is dedicated to continuing the fight for transparency on all sides of the issues and will engage in every opportunity available to speak out on behalf of ourselves and our clients. If there is ever legislation you would like to partner with us on, do not hesitate to reach out. We are here to help!
For questions regarding this alert, please reach out to Jill Cloys, Director of Compliance: jill.cloys@meduitrcm.com