Account Transfer to Collections — Commonwealth Financial Solutions, Inc.

Documents to Include

Required & Recommended Documents

REQStatement

Include all Dates of Service.
REQDemographic Information

Most current on file — patient name, address, date of birth, and phone number.
OPTFinancial Policy

Signed copy if available.
A signed Financial Policy allows CFS to add collection fees to the account. If one is not available, we can still collect — please reach out and we will find a workaround.

💬 Missing information? No problem — contact Emily at CFS and we will work with you to find a solution.

Helpful — Not Required

Beneficial but not required — include if available

Employment information (employer name and address)
Work phone number
Handwritten notes or documents from the patient
Any additional contact numbers
Copies of checks written by the patient
Any other useful identifying information

When in doubt, include it — the more complete the file, the better the recovery outcome.

Account Eligibility

✅ Account Qualifies IF

✔Account is 90+ days past due
✔Patient has received at least 3 statements
✔Balance is over $25.00
✔ No current or active payment plan on file
Defaulted payment plans are acceptable.
✔Account is NOT Medicaid
See Medicaid note below.
✔Account is NOT Workers Compensation

🚫 Do NOT Send to Collections

✖ Active or current payment plan in place
Defaulted plans are fine.
✖ Medicaid accounts
Unless patient claimed Medicaid but coverage was not active on DOS — see Medicaid section.
✖Workers Compensation accounts
✖Balances of $25.00 or under

Medicaid Special Handling

ℹ️

Medicaid — Special Handling

If a patient stated they had Medicaid but Medicaid shows the coverage was NOT active on the Date of Service, please send us a copy of the verification showing coverage was not active on that DOS. CFS will handle these accounts with care.

Statute of Limitations

Please be aware of the following timeframes when submitting accounts.

With Signed Financial Policy — 5 Years

CFS can pursue collection for up to 5 years from the Date of Service (DOS) or date of last payment, whichever is most recent.

Without Signed Financial Policy — 3 Years

If no signed Financial Policy is on file, CFS can pursue collection for up to 3 years from the Date of Service (DOS) or date of last payment, whichever is most recent.

Transfer Process

1

Verify Criteria

Review the account against all eligibility criteria before proceeding.

2

Confirm Statements

Confirm the patient has received at least 3 statements at 30-day intervals.

3

Confirm Age of Account

Confirm the account is 90+ days past due.

4

Verify Balance

Verify the outstanding balance is over $25.00.

5

Check Payment Plan

Confirm no current or active payment plan exists. Defaulted payment plans are acceptable.

6

Check Medicaid Status

Confirm the account is not an active Medicaid account. If patient claimed Medicaid but coverage was inactive on DOS, include verification and send to CFS.

7

Check Workers Comp

Confirm the account is NOT Workers Compensation.

8

Gather Documents

Collect Statement with Dates of Service and updated Demographics. Include signed Financial Policy if available — this allows collection fees to be added. Include any helpful extras: employment info, work number, handwritten notes, extra contact numbers, copies of checks.

9

Flag Account

Flag the account as Ready for Collections in your billing system.

10

Complete Transfer Form

Complete the collections transfer form — patient name, DOB, account number, balance owed, date of last statement.

11

Submit Transfer

Submit the transfer to Commonwealth Financial Solutions, Inc.

12

Document Transfer

Document the transfer date in the patient account notes for your records.