What Does 501(r) Mean for Providers and Agencies?

While the Affordable Care Act’s employer mandate is receiving substantial attention, proposed 501(r) requirements are also impacting charitable care hospitals and their collection agency vendors. With the individual and employer mandate aspects of the Affordable Care Act receiving so much scrutiny and attention, it’s easy to set aside thoughts of the Internal Revenue Service’s proposed 501(r) requirements, which will affect charity care hospitals and, in turn, collection of their debt. However, becoming familiar with the requirements being placed on hospitals and the steps they must take before and after the collection process is crucial when collecting hospital accounts. <more>