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Media Contact: Jennifer Vansant at 858-200-9213 or jvansant@csifinancial.com
CSI's High Standards Consistent with Latest ACA Guidelines San Diego, California, March 21, 2007 -- CSI Financial Services, a national leader in automated patient financing solutions and management of self-pay healthcare accounts, today announced that its internal corporate policies fully conform to the latest healthcare collections and debt purchasing guidelines issued by the board of directors of ACA International, the Association of Credit and Collection Professionals (ACA). According to Mitch Patridge, CSI's chief executive officer, CSI adopted standards and processes that are consistent with today's ACA guidelines when the company was established in 1993. According to Patridge, "We have always sought to follow the highest standards. Though the recent ACA Statement won't significantly impact our operations, we welcome this type of industry oversight. It encourages a high level of professionalism and ethical conduct within a field that is new and rapidly growing -- and thus is particularly vulnerable to procedural shortcuts and missteps." Called "Healthcare Collection, Servicing and Debt Purchasing Practices -- Statement of Principles and Guidelines," ACA's three-page document sets forth specific procedural, operational and ethical guidelines relating to the collection, servicing and purchase of healthcare debt. ACA formally published the guidelines on February 22 as a direct result of a yearlong study of the healthcare receivables marketplace. A task force of ACA member agencies, ACA member debt purchasers and healthcare providers conducted the study. The guidelines address patient communications, business relationships, legal and compliance and operations. The complete ACA Statement of Principles is available at http://www.acainternational.org/images/9909/healthcareguidingprinciples.pdf In a public press release, ACA noted that the sale of healthcare receivables is a relatively new phenomenon. Nevertheless, ACA President Mike Shoop points out that "ACA member agencies have always been sensitive to healthcare providers' needs, and now these companies have a new tool for communicating that respect and dedication to their healthcare clients." Based in San Diego, California, CSI Financial Services has more than 14 years of experience in providing automated patient financing solutions as well as management of self-pay accounts for more than 100 hospitals throughout the United States. The Company's financing methodologies are unique to the industry and allow healthcare providers to easily provide affordable financing to a diverse and underserved portion of their patient population. To date, CSI Financial Services has provided hospitals with more than $170 million in advance payments for patient accounts and has extended loans to patients in all states. For more information about CSI Financial Services visit www.csifinancial.com. |