HSA chairman Jonathan Tibbets told the Cayman Islands’ legislative assembly’s public accounts committee a significant portion of HSA’s doubtful debts should be absorbed as bad debt. Doubtful debts refer to any account aged more than a year.
Earlier this month, HSA officials said they expect to collect only $10 million of the $90 million the agency is owed.
Details of the write-off have yet to be determined, according to the article. HSA hopes to complete the transaction by Dec. 31, 2017.
More articles on revenue cycle management issues:
17 statistics on the current state of US healthcare spending, finances
KPMG ends contract with Broward Health over audit dispute
Illinois’ unpaid payer, provider claims stretch past 18 months
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
