A new version of FICO's credit score formula will be launched this fall that could improve the chances of getting a mortgage. But it also has the potential to impact the collections and cash flow of healthcare providers.

While this is good news for the mortgage industry and individuals wanting to finance or refinance, there may be some unintended consequences for medical and healthcare providers. Physicians, clinics, hospitals and other care providers may soon find some of their patients reprioritizing the debt they will pay off.

FICO 9 introduces sophisticated modeling risk assessment techniques to more predictively assess consumer collection information and lowers the lower impact of medical collections upon an individual's credit score. The major change is the differentiation between medical and nonmedical collection agency accounts.

Research has shown that medical debt doesn't have a major direct correlation with other delinquencies like credit card debt, and traditionally lenders have been discounting it. The change means that medical collections and debt will now have a lower impact on one's credit score, making it easier for some to secure a loan or get better terms.

It doesn't seem there has been any research into the potential impact upon a physician's private medical practice, a small physical therapy business, a rural health clinic or a hospital. As this change rolls out, healthcare leaders will want to assess the potential impact FICO 9 will have on their collections program and cash flow. Will patient/families choose to pay credit card and other debt before their medical bills because they know it has less of an impact upon their credit rating?

The healthcare industry needs to anticipate the consequences of FICO 9 and start to prepare accordingly. Healthcare financial leaders will want to assess the potential impact upon their organization's collections program and cash flows. Since credit ratings are also used for obtaining additional nonmortgage credit and for background checks, it is also an important for human resource directors to realize this change in calculations.

The central question is whether FICO 9 help homeowners and mortgage companies at the expense of healthcare professionals and businesses. Let's hope not.