Wis. Admin. Code Department of Financial Institutions DFI-Bkg 74.01

Current through May 28, 2024

Section DFI-Bkg 74.01 - [Effective 1/1/2025] Definitions

In this chapter:

(1) "Actual process of collection" means regularly receiving payments at periodic intervals, or debtor contacted within last 30 days and promise of payment received, or an account referred for legal actions where the collection agency has advanced legal costs. A collection agency and its client may by written contract agree to a different actual process of collection, but this different actual process of collection must require more effort on the part of the collection agency than merely listing the account, inputting the account into its database, writing one letter or making one call, or similar levels of effort.

(3) "Division" means the division of banking.

(4) "Health care billing companies" in s. 218.04 (1) (a), Stats., means a person under contract with a health care provider to collect or attempt to collect an account, which is not in default when forwarded from the health care provider, using only the health care provider's name, and directing all payments to the health care provider or depositing all monies received directly into the health care provider's account at a financial institution.

(5) "Health care provider" means any of the following:

(a) An ambulatory surgery center as defined in 42 CFR 416.2.

(b) A health care provider as defined in s. 146.81 (1), Stats.

(c) An outpatient diagnostic facility as defined in 21 CFR 803.3.

(d) A person designated as a health care provider in writing by the division.

(5m) "Licensee" means a person licensed under s. 218.04, Stats.

(6) "Merger" means the business combination of 2 or more collection agencies under s. 180.1101 or 183.1021, Stats., or other applicable law.

Wis. Admin. Code Department of Financial Institutions DFI-Bkg 74.01

CR 06-045: CR Register September 2006 No. 609, eff. 10-1-06; CR 10-097: renum. (4) to be (6), CR (4), (5) Register December 2010 No. 660, eff. 1-1-11.

Amended by, CR 23-039: am. (1), r. (2) (c), am. (2) (d), cr. (5m), am. (6) Register February 2024 No. 819, eff. 4/1/2024

Amended by, 2023 Wis. Act 267: am. (1), r. (2), cr. (5m) Register April 29 No. 820, eff. 1/1/2025; merger of (1), (5m) treatments by 2023 Wis. Act 267 and CR 23-039 made under s. 13.92 (4) (bm), Stats., Register April 29 No. 820