The vendor is required to provide collection services for medical practice income plan (MPIP) operations at the campus location.
- The contractor would be expected to implement an efficient and effective procedure in its attempt to achieve a maximum recovery of debts through telephone calls, mail efforts and skip tracing procedures whenever necessary.
- Service requirements:
a. Collections process capabilities:
• University patient financial/billing systems for which work will be performed and must be able to provide electronic data transfer, which is compatible with university systems, including both uploads and downloads of payments, collection activity notes and account placements and returns.
• Maintain software that allows common accounts to be linked while maintaining separate balances for separate reporting for professional accounts, as well as the ability to provide identification of duplicate accounts.
• University further agrees to notify contractor of any complaint, notice or legal process received from any patient, patient’s attorney, regulatory authority or otherwise regarding and account placed with contractor for services hereunder.
• Contractor shall transmit this acknowledgment in a form acceptable to university no later than twenty-four (24) hours after accounts are referred to contractor.
• Contractor shall implement thorough collection procedures in its attempt to achieve a maximum recovery of debts. such procedures shall include telephone calls, mail efforts and skip tracing procedures whenever necessary.
• Before contractor’s personal informs the borrower/debtor that their debt is paid in full, they will need to be able to ensure the entire principal, interest, penalties, and collection fees have been recovered in full.
• Contractor will need to be able to provide borrower/debtor a printed statement of their account when requested.
• The monthly statements will contain the university id as identifier combined with loan number or billing code and not the individual’s social security number.
b. Reporting:
• Quarterly – debtor status report (detailing all active accounts)
• Quarterly – placement analysis report
• Quarterly – schedule of aged accounts receivables (all active accounts)
• Monthly – accounts returned to university and have not been converted
c. Regulations and laws:
• The collection services must be provided in accordance with the most recent applicable federal regulations. contractor personnel, handling collection efforts, need to be knowledgeable of, and comply with, the most recent applicable federal regulations, guidelines, and policy interpretations governing federal and institutional loan programs.
• As a third-party servicer, will assume joint and several liability with the contractor for any violation by contractor of any statutory or regulatory provision applicable to title iv programs.
• Under no circumstance, will contractor use threats, intimidation, harassment, or unfair collection practices or violate any guidelines established by federal, state, and local laws, regulations, and rules affecting the work.
• University, must be able to manage credit bureau reporting on institutional loans and tuition and physician fee-for-service receivables.
• Contractor must be in full compliance with FERPA, GLBA, HIPPA, and maintain sufficient safeguards to prevent unauthorized access to information, such as secure handling and storage of all data and security password protection on any computer equipment
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 28, 2025