United Asset offers a unique value proposition: hospitals receive funding from accounts no longer considered to be revenue generating assets through a process that protects the hospital, its well deserved reputation and the patients it serves.

Hospitals often write off 5 – 6% of revenue in patient bad debts. Excluding indigent care, Medicare and Medicaid, the amount charged-off by hospitals is substantial. For example, a 300 bed hospital may write-off $20 million or more per year in valid patient debts.

Because of the special nature of healthcare accounts, United Asset Group requires a number of provisions that ensure the transaction is safe, smooth and secure. Our guidelines comply with the Healthcare Financial Management Association recommendations for medical accounts receivables. These provisions include:

• Only firms specializing in medical debt collections are allowed to participate. Firms that only employ associates fully trained on HIPAA compliance.
• Throughout the process, Protected Health Information is never available to any entity not specifically approved by the HIPAA statutes. Our unique, proprietary transaction process ensures that there cannot be a HIPAA violation.
• The hospital may approve the buyer before the process is completed.
• Buyers must be licensed to practice in your state (if a license is required), be members in good standing of the Association of Credit and Collections Professionals, and will comply with all federal and state laws and regulations.
• The account agreement prohibits the transfer of accounts to other agencies.
• Buyers agree to only use “soft” collection techniques. The account agreement prohibits the buyer from enforcing a legal judgment against a debtor.
• Accounts that may subsequently be identified as sensitive or requiring higher levels of attention may be recalled by the medical facility.
• All deceased, bankrupt, Medicare or Medicaid accounts are removed from the charge-off portfolio prior to the transaction.

United Asset Group’s proprietary framework for medical institutions was developed in consultation with leading experts (including authors of official white papers on the subject) in the field of medical account collection practices. It is the only structure that incorporates all of the protections available for both hospitals and patients.