Credit Score No More: Why New Credit-Worthiness Calculations Have Medical Practices on Alert
Big changes are coming to consumer credit scores regarding medical debts. VantageScore, a leading credit-score model development company announced that it won’t include medical-collection information in the equation to determine a person’s credit worthiness, starting in October of 2022.
This new standard could be cause for concern for healthcare organizations because patients may be less incentivized to pay bills and outstanding balances.
In this guide, we’ll explore what impacts these changes to the VantageScore may mean to healthcare organizations and give ways that savvy practices and health systems can get ahead of it and mitigate possible negative effects.
Download this guide to:
Learn the specific changes coming to the VantageScore
Examine the impacts to healthcare organizations like yours
Gain best practices for mitigating any possible negative impacts