SECONDARY COLLECTION AGREEMENT
This Secondary Collection Agreement (the Agreement) between United MoneyCorp,
Inc. (UMC) and Presbyterian Healthcare System (PHS) is entered into effective
Oct. 31, 1997.
Whereas, PHS desires to place for collection certain accounts receivable
(selected financial classes returned as uncollected to PHS from the RMI
commercial insurance outsource) from its member hospitals; and
Whereas, United MoneyCorp, Inc. desires to assist PHS in the recovery of
these Secondary Placement self-pay accounts.
Now, therefore, United MoneyCorp, Inc. and PHS agree to the following:
PHS will refer selected financial classes of self-pay after insurance
accounts previously worked by RMI to United MoneyCorp, Inc. for collection.
Self-pay after insurance account means an account of a patient of a PHS
member hospital in which the patient has a balance on the account after
payment by the insurance carrier or Medicare.
All payments on self-pay after insurance accounts posted "AFTER SIX DAYS"
from the date United MoneyCorp, Inc. received the account will be deemed
collected by United MoneyCorp, Inc.
Collector telephone\letter efforts by United MoneyCorp, Inc. will continue on
all accounts while placed at UMC. UMC shall make a minimum of three phone
attempts.
United MoneyCorp, Inc. agrees to place all accounts with no payments after 60
days from date of placement with a National Credit Reporting firm, as a bad
debt derogatory item, but will have any account removed upon request of PHS.
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 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
account on which payments are being made.
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PHS may recall an account at any time with the exception of accounts on which
payments are being made.
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 21% (twenty-one percent) of monies collected.
On or about the tenth (10th) 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 If to UMC: Xx. Xxxxxx X. Xxxxx
Director, Patient Director of Marketing
Financial Services United MoneyCorp, Inc.
Presbyterian Healthcare System 00000 X. Xxxxxxx, Xxxxx 000
5750 Pineland, Suite 300 Dallas, Texas 75231
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
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:
Unites MoneyCorp, Presbyterian Healthcare System
/s/ Xxxxxx X. Xxxxx /s/ Xxxxx Xxxxxxx
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Xxxxxx X. Xxxxx, Xxxxx Xxxxxxx,
Director of Marketing Director, Patient Financial Services
Date- 10/31/97 Date- 10/31/97
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