EARLY OUT COLLECTION AGREEMENT
This Early Out Collection Agreement (the Agreement) between United MoneyCorp,
Inc. and Presbyterian Healthcare System (PHS) is entered into effective MAY 1,
1997.
WHEREAS, PHS desires to accelerate the collection of certain accounts receivable
of its member hospitals; and
WHEREAS, UNITED MONEYCORP, INC. desires to assist PHS in the development of an
Early Out Billing and Collection Program (the Program).
NOW, THEREFORE, UNITED MONEYCORP, INC. and PHS agree to the following:
The following abbreviations apply:
SELF PAY ACCOUNTS (S), SELF-PAY AFTER INSURANCE (P), AND SELF-PAY AFTER MEDICARE
(Q)
PHS will refer all self-pay accounts to UNITED MONEYCORP, INC. for collection
the later of 30 days from the final xxxx date after discharge of the patient for
classified accounts or 30 days from the date the balance became the patient's
responsibility (for P&Q classified accounts). Self-pay account means an account
of a patient of a PHS member hospital in which the patient does not have medical
insurance coverage or the patient has a balance on the account after payment by
the insurance carrier or Medicare.
All payments on self-pay accounts posted after six days from the date UNITED
MONEYCORP, INC. received the account will be deemed collected by UNITED
MONEYCORP, INC.
Collector telephone efforts by UNITED MONEYCORP, INC. will continue on all
accounts throughout the billing process. UNITED MONEYCORP, INC. shall make a
minimum of three phone attempts.
UNITED MONEYCORP, INC. will return all accounts to PHS ninety (90) days after
the date of receipt. Accounts should be returned weekly on a print out with
balances in descending order.
PHS agrees to hold returned accounts for an additional six days before assigning
to a third party bad debt agency. During this six-day period, all payments
received will be deemed as collected by UNITED MONEYCORP, INC.
UNITED MONEYCORP, INC. agrees to comply with all applicable federal and state
debt collection and consumer protection laws and regulations when providing
services under this Agreement.
UNITED MONEYCORP, INC. hereby indemnifies and holds PHS harmless from any and
all claims or demands relating to collection activities by UNITED MONEYCORP,
INC. on PHS accounts. However, UNITED MONEYCORP, INC. will not assume
responsibility for any errors or omissions on
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the part of PHS. It is also agreed that since UNITED MONEYCORP, INC. will
have access to confidential information concerning the conditions of and
treatments rendered to patients by PHS, UNITED MONEYCORP, INC. agrees to
maintain the confidentiality of such information and will comply with and
respect all local, state, and federal rules, regulations and laws governing
confidentiality of patient information.
This Agreement may be terminated by either party by providing sixty (60) days
written notice of termination to the other party with the exception of any
accounts on which payments are being made.
PHS may recall an account at any time with the exception of accounts on which
payments are being made. Each account recalled by PHS within five (5) days after
the date the account is received by UNITED MONEYCORP, INC. will be assessed a
$3.00 set-up charge for each account recalled.
UNITED MONEYCORP, INC. shall not initiate any form of legal actions without
written authorization from PHS.
UNITED MONEYCORP, INC. will perform the above-referenced services for a fee of
9% (nine percent) of monies collected.
On or about the tenth (10) day of each month, UNITED MONEYCORP, INC. will remit
to PHS an invoice confirming payments received on all applicable accounts within
the previous month. Such invoice will contain an accounting of all transactions.
In addition, UNITED MONEYCORP, INC. shall remit payment for PHS' portions of the
collected funds.
Any notice or document required or permitted to be delivered hereunder shall be
addressed to the parties hereto at the respective address set forth below, or at
such other address as either party shall specify by written notice, sent to the
other party by certified mail, return receipt requested:
If to PHS: Xx. Xxxxx Xxxxxxx
Director, Patient Financial Services
Presbyterian Hospital of Dallas
0000 Xxxxxxxx, Xxxxx 000
Xxxxxx, Xxxxx 00000
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If to UNITED MONEYCORP, INC.:
Xx. Xxxxxx X. Xxxxx
General Manager
United MoneyCorp, Inc., Inc.
00000 X. Xxxxxxx Xxxxxxxxxx, Xxxxx 000
Xxxxxx, Xxxxx 00000
This Agreement and the rights of the parties hereto shall be governed by,
construed and enforced in accordance with the substantive laws of the State of
Texas without reference to the laws of any other state or jurisdiction. The
parties hereby irrevocably consent and agree that any legal proceeding arising
out of or in connection with this Agreement or the rights of the parties hereto
shall be commenced and prosecuted to conclusion in Dallas, Dallas County, Texas.
During the term of this Agreement and for a period of four (4) years thereafter,
UNITED MONEYCORP, INC. will make available, and will cause each related
organization with which it has a subcontract to provide services in connection
with this Agreement to also make available to PHS and to the appropriate
governmental authority as requested by PHS in writing, copies of this Agreement
and any books, documents, and records of UNITED MONEYCORP, INC. and of any such
related organization that are required by any federal statute or regulation to
certify the nature and extent of the cost claimed by PHS with respect to the
services provided in connection with this Agreement.
ACCEPTED FOR: ACCEPTED FOR:
UNITED MONEYCORP, INC. PRESBYTERIAN HEALTHCARE SYSTEM
/s/ Xxxxxx X. Xxxxx /s/ Xxxxx Xxxxx
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Xxxxxx X. Xxxxx Xxxxx Xxxxx, Vice President of
General Manager Financial Management
April 22, 1997 April 18, 1997
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Date Date
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