Escheats Laws
Is there a statute of limitations on old, outstanding accounts? Is there a certain point after which we can't collect?
Question: Is there a statute of limitations on old, outstanding accounts? Is there a certain point after which we can't collect?
Answer: Every state has an "escheats law" - unclaimed property law. The limit sets ranges from three to seven years. If you have not collected by the deadline set by your state law, then the account can no longer be collected. This does not include pre-set payment plans that extend into this period.
Check with your state medical society to find your state rules.
Lead through crisis with confidence: A health care leader’s playbook for resilience and reputation
May 6th 2025Proactive crisis readiness equips health care leaders to navigate today’s permacrisis era, protecting brand reputation, sustaining patient‑care continuity, and preserving stakeholder trust when disruptive events strike.
