Free Reg F Goodbye Letter Template + Compliance Checklist

May 11, 2022

Free Reg F Goodbye Letter Template + Compliance Checklist

Regulation F has changed the way that healthcare providers are required to engage in debt collections. One of the most important changes is the move towards more electronic communication standards. These standards can be enhanced when the original creditor sends their patient a “goodbye letter” in advance of sending out the account for further collection action to their agency partner.

Unfortunately, this goodbye letter is often underutilized because healthcare organizations are unsure when to send it and what it should and should not include. Here’s a quick summary of Reg F and the Goodbye Letter, a compliance checklist, and a ready-to-go template your organization can use with patients.

What is Reg F?

Regulation F was written in the 1970s to create communications guidelines between debtors and collectors. Picture communication technology in the 70s: Rotary phones, antennas on TVs, and fax machines the size of a house may come to mind. And then… Reg F was never updated. Until 2021, no guardrails were put around how healthcare organizations and debt collectors could use “new” technologies like voicemail, text messages, and email to communicate with consumers.

These barriers in communication wasted time and held up collections. The updates to Reg F eliminate these barriers by putting the consumer in charge of how they want to receive communications. Among other things, these changes to Reg F affect:

  • The information that’s required to be sent from the healthcare organization to the debt collection agency
  • The initial notice that the debt collection agency sends to the patient.
  • The manner, timing, and frequency that debt collection agencies can communicate with a consumer to discuss outstanding debts.

Learn what’s at stake with changes to Reg F and the No Surprises Billing Act in our free on-demand webinar >>

Benefits of the Reg F Goodbye Letter

A new opportunity provided by these changes is the “Goodbye Letter.” This simple communication can benefit your healthcare organization, your debt collection agency, and your patients. The Goodbye Letter is a final communication from a healthcare organization to the patient. It’s sent before giving the patient’s account to their agency partner for further collection. This letter can be an “extra” communication on the balance or added into the patient’s Final Statement.

Here are three benefits of the goodbye letter:

It prepares your patient for communications with the debt collector.

Before Reg F, healthcare organizations weren’t required to disclose that they were giving the account to a debt collection agency. Often, a patient who received their bill from the “new” collectors wouldn’t recognize it as the same debt or dismiss it as a scam, resulting in costly penalties.

Now, the patient will be aware of who their new point of contact is for their debt, which can eliminate back and forth between the consumer and a healthcare organization. It also empowers the consumer to avoid the phishing efforts of scam debt collectors.

It helps your healthcare organization ensure compliance.

The Goodbye Letter lets the patient choose their preferred form of communication at the start and ensures that the opt out process is simple and clear. One important factor to note is that there must be a 35-day period following the good-bye letter for the patient to opt-out of electronic communication per Regulation F.

It improves your odds of gaining connection and payments on accounts.

Sending the Goodbye Letter puts the debt on the forefront of your patients mind and adds a sense of exigence. This may enhance the “last” effort of your provider organization to capture payment on the balance before assigning the account to a debt collector.

Free Reg F Goodbye Letter Template and Checklist

We know that these new regulations can be daunting. If you’d like more resources, watch our on-demand webinar, “What Healthcare Providers Need To Know About Reg F And No Surprises”.

Get your Goodbye Letter Template and Checklist

Reg F Goodbye Letter Template and Checklist.

The Creditor/Provider sends the goodbye letter to the patient/consumer. This letter can be in written or electronic form. The letter must clearly disclose:

  • The balance due (debt) is being transferred(or has been transferred) to a debt collector along with the patient’s patient’s/consumer’s email address.
  • The debt collector may use the email address to communicate with the consumer/patient about the debt.
    • If the email address is used by others (i.e. spouse, partner, etc..) and there is a chance that the email sent may be viewed by others, then the consumer/patient may “opt-out” of these email communications.  
  • Opt-out information.
    • The provider can include a tear-off section of the notice for the opt-out or provide an email address or website where the patient can opt out of email communications. 
    • The provider must give a date by which the consumer must exercise their right to “opt-out” of electronic communications. Per Reg F, this period must be at least 35 days from the date the letter was sent.

Karie Bostwick

VP of People and Compliance

As VP of People and Compliance at Revenue Enterprises, Karie Bostwick oversees People functions including recruiting, training, onboarding, engagement and satisfaction. Additionally, she is responsible for compliance training, oversight and monitoring.

Karie has a long history of working in the revenue cycle support industry. Her skills span leadership, operations start up, policies and procedures development, operations workflow, budgeting and client management.

She is passionate about the experience of our people, patients and the Healthcare clients we serve and believes that a team of diverse, talented and motivated individuals working together toward a common goal can make a difference.

Robert Sterett

VP of Information Technology

As a transformational leader Robert Sterrett has leveraged his 20 years of experience to build effective service lines and exceptional teams. In his role as VP of Information Technology at Revenue Enterprises, Robert excels at taking a unique, balanced, and strategic approach to technology leadership with people first for the best possible outcome. Using his experience from engineering, project management and service line management he takes a multi-faceted approach to ensure the right people are in the correct position coupled with the best technology to meet or exceed all expectations from security to compliance and business continuity.

Robert’s leadership style lends itself to building long term relationships and has consistently been a relied upon strength in many organizations. Over Robert’s time as an IT operational and project leader, he has spent significant time in both hands-on technology facing roles and client centric management roles to bring the best solutions that strive to meet the business and client needs.

Focusing heavily on his personal development skills and opportunities, Robert continues to foster coaching and mentorship relationships everywhere in his life, and the lives around him.

Douglas Dunbar

VP of Sales & Marketing

As VP of Sales and Marketing for Revenue Enterprises, Douglas Dunbar leads with a passion for building strategic partnerships, nurturing relationships, and upholding customer service excellence. In his role, Doug focuses on marketing and brand strategy, sales team leadership, and working closely with members of the management team to best serve company goals.

Doug has over 28 years of National sales and marketing call/contact center leadership, with 10 years of service specifically at Revenue Enterprises. Currently, Doug serves as part of Wyoming HFMA Chapter leadership and has held various roles in Colorado HFMA Chapter leadership for over 9 years.

In his spare time, Doug is very family oriented. Additionally, he loves traveling, cycling, golfing, fishing, hunting, and boating.

Kris Brumley, MBA

SVP/COO

As SVP/COO of Revenue Enterprises, Kris Brumley is a collaborative partner within the executive team and a leader for operational functions across the organization. Kris productively shares vision, drives innovation, and supports those around her in a way that elevates them and fosters continuous improvement and results. She has helped create a supportive environment for clients resulting in 98% client retention and a 65% NPS score for all clients and 75% for top clients by revenue.

Kris possesses an MBA in data analytics and has twenty-five years of experience in the healthcare industry, with 19 specifically in revenue cycle. She brings a wealth of customer service experience to her role and has worn many hats at Revenue Enterprises including Director of Business Development, EBO Division Director, and VP of Client Experience Management.

In her personal life, Kris is as busy outside of work as inside. She values spending time with her family, and enjoys fishing, hiking, traveling and interior decorating and design.

Timothy (Tim) Brainerd

CEO

As CEO of Revenue Enterprises for almost 20 years, Tim Brainerd leads by example. He promotes a shared vision and stewards a culture of Integrity, Passion, and Respect. He has assembled and empowered high-performing talent and teams to support customers, facilitate strategic planning and manage the capital of the company. Under his leadership, Revenue Enterprises has doubled in size three times over the past fifteen years while maintaining a culture of caring and gratefulness.

Tim has close to four decades of revenue cycle experience, including nineteen years with RSI
Enterprises. He has been a past president of Colorado Chapter of the HFMA and a presenting speaker on the topic of Leadership. He is a fifteen-year member of Vistage International, the world’s largest CEO coaching and peer advisory organization for small and midsize business leaders.

Raised in the Midwest, Tim values humble principles like being respectful, caring, passionate, self-reliant, and most importantly grateful. His most important lesson and the lesson he hopes to pass on in all relationships is living the Golden Rule–do unto others as you would have them do unto you. He is intentional in his choices and believes in making decisions, taking action, being accountable, and loving your neighbors.

Whenever possible, Tim spends his time with his wife of nearly forty years, his adult children, and his grandchildren. His hobbies include fishing, golfing, traveling as well as game nights and sharing great food with his family.