Helping You Stay Compliant with Changing Maryland Legislation
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The patient billing and collection environment presents new challenges for providers in helping their patients afford the care they need within regulatory guidelines, while also maintaining revenue vital to serving their communities.
The HSCRC presented the final guidelines of Maryland House Bill 0565 (HB0565) at the monthly Commission meeting on May 11 for final approval. Here are the most important things providers need to know:
Requires providers offer payment plans to all patients and ensure monthly payments do not exceed 5% of their adjusted gross income (AGI)
Notify patients that income-based payments are available, and document and report steps taken to inform patients about financial assistance
Hospitals (and their delegated collection agencies) are prohibited from specific collection actions, such as placing a lien on a patient's primary residence
Now more than ever, providers need a patient financial engagement partner that meets the needs of providers and patients - all while maintaining compliance by offering adjustable, zero-interest payment plans. At CarePayment, our compliance and legal team is working directly with Maryland providers to ensure their payment plans are consistent with all rules outlined in HB0565:
Develop a white paper specifically for Maryland providers to help understand Maryland House Bill 0565 and what it means for traditional provider billing and collection practices.
Tracked the development of the Hospital Payment Plan guidelines, attended stakeholder meetings held by the Health Services Cost Review Commission (HSCRC), and participated in the public comment period.
Worked closely with impacted providers to operationalize the income-based payment plan requirements provisioned in the law, as well as the communication requirements, in order to make sure our partners comply by the implementation date.
Presented information about complying with the HSCRC Hospital Payment Plan Guidelines at an in-person educational event hosted by the Maryland chapter of the American Association of Healthcare Administrative Management (AAHAM).
CarePayment's patient financial engagement platform adheres to existing legislation and Maryland HB0565. Because of this, Maryland providers can count on us for maintained compliance, the highest capture of earned revenue and increased patient satisfaction.
To learn more about CarePayment’s fully compliant patient financial engagement platform and how we can help navigate new Maryland-specific legislation, fill out the form and a CarePayment expert will be in touch soon.
