Debt Collectors' New Tactic: Use Prosecutors' Letterhead - News and Current Events | futures trading

Go Back

> Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events

Debt Collectors' New Tactic: Use Prosecutors' Letterhead
Started:September 16th, 2012 (05:40 PM) by Quick Summary Views / Replies:161 / 1
Last Reply:September 16th, 2012 (08:37 PM) Attachments:0

Welcome to

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

Debt Collectors' New Tactic: Use Prosecutors' Letterhead

Old September 16th, 2012, 05:40 PM   #1 (permalink)
Quick Summary
Debt Collectors' New Tactic: Use Prosecutors' Letterhead

Debt collectors have come under fire for illegally menacing people behind on their bills with threats of jail. What makes a new approach unusual is that the ultimatum comes with the imprimatur of law enforcement itself, the New York Times reports.

More on CNBC...

Reply to share your thoughts on this current event.


Old September 16th, 2012, 08:37 PM   #2 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,839 since Nov 2010
Thanks: 3,275 given, 3,321 received

Hospital faces punishment for harassing sick patients over bills

Bedridden patients at a Minnesota hospital have repeatedly woken up to the sight of a debt collector at the foot of their beds. The hospital is now facing penalties for violating patient protection laws by intimidating the ill over unpaid bills.
The University of Minnesota Medical Center, a Fairview Health Services hospital, could be terminated from Medicare and Medicaid – the greatest penalty the federal government can impose, the Star Tribune reports.

According to federal inspection documents obtained by the Tribune, the hospital subjected patients and their relatives to “abuse and harassment” while making attempts to collect medical bill payments in emergency rooms and labor and delivery areas. While one patient was suffering a potential heart attack, a hospital employee told her she owed $672 for the day, rather than helping her.

“The patient stated she was ‘angry, scared and appalled,'” stated the documents, which were put together under the supervision of attorney general Lori Swanson.

In some cases, the hospital’s workers had access to health information while threatening patients to pay their bills, thereby violating federal privacy laws.
In seven of the 21 cases reviewed by federal investigators, the hospital “failed to protect and promote each patient’s rights to be free from all forms of harassment when the hospital utilized aggressive payment collections tactics at the point of patient care."

The hospital worked together with the debt collection firm Accretive Health to intimidate patients, who believed they would be denied medical care if they did not pay their previous debts.

The hospital was also found to have denied treatment to poor patients unable to pay the bills, breaching federal laws that state hospitals must accept anyone and everyone.

Swanson’s reports sparked outrage among some politicians. Sen. Al Franken led an effort to push for new federal regulations restricting medical debt collection. The American Hospital Association was also required to update its guidelines for billing and debt collection. The hospital’s CEO, Mark Eustis, resigned over the scandal.

As Fairview now faces losing its Medicare and Medicaid programs, the hospital is working hard to change its reputation.
“We are very concerned about the issues that came up and are working collaboratively with CMS (Centers for Medicare and Medicaid Services) to get them resolved,” said Carolyn Wilson, the hospital’s president, in a statement for the Tribune. Fairview claims it now responds to complaints from patients and employees.

“We continue to learn from this experience,” she said.

Meanwhile, the debt collection agency is facing its own punishments. For years, Accretive has been profiting from collecting hospital debts from sick patients. In 2011, it reported $29.2 million in profit, up 130 percent from the previous year, according to The New York Times. But as a result of its involvement in the harassment and intimidation of patients, the attorney general banned the firm from doing business in Minnesota for at least two years. In July, Swanson also reached an agreement with Accretive for the firm to pay $2.5 million into a patient restitution fund.

Although the Tribune expects the hospital to face lesser sanctions, it could be booted from Medicare and Medicaid anyway, thereby losing government funding for its older patients.

Hospital faces punishment for harassing sick patients over bills — RT

Reply With Quote

Reply > Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events > Debt Collectors' New Tactic: Use Prosecutors' Letterhead

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
Obama Relies on Debt Collectors Profiting From Student Loan Woe kbit News and Current Events 0 March 27th, 2012 02:58 PM
SEC Uses “Because I Said So” Tactic With Judge Rakoff kbit News and Current Events 0 November 7th, 2011 08:36 PM
Be Honest – The European Debt Deal Was Really A Greek Debt Default Quick Summary News and Current Events 1 October 28th, 2011 11:46 PM
Italian Prosecutors Seize Documents from Moody's, S&P kbit News and Current Events 0 August 4th, 2011 06:02 PM
Obama’s Twist of BP’s Arm Stirs Common Tactic Debate Quick Summary News and Current Events 2 June 18th, 2010 09:39 AM

All times are GMT -4. The time now is 05:56 PM.

Copyright © 2016 by All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-24 in 0.08 seconds with 19 queries on phoenix via your IP