Forgiving medical debt sounds like a great idea, but have you ever considered its broader implications?
In this video, I explore the impact of eliminating medical debts from credit profiles on both consumers and providers.
Interestingly, a recent randomized control trial showed a modest reduction in the payment of existing medical bills when debt was forgiven.
Its not just consumers responding to these incentives; providers are adapting too.
More hospitals are requiring upfront payments, with pre-care costs rising to nearly 25% in recent years.
How do you think this trend will affect the healthcare industry?
Benedic Ippolito, PhD, Senior Fellow at the American Enterprise Institute in Washington, DC, testified before the Senate HELP Committee.
