The church partnered with nonprofit RIP Medical Debt for the effort. Through partnerships like this, organizations raise money so RIP Medical Debt can use the funds to purchase and forgive medical debt for pennies on the dollar.
Liquid Church’s fundraiser is one of the many partnerships with churches the New York City- based nonprofit has pursued since its conception in 2014. According to RIP Medical Debt, two-thirds of all U.S. bankruptcies stem from medical debt, and one-quarter of all U.S. credit card debt is medical-related.
More articles on healthcare finance:
10 best RCM tools, ranked by KLAS
Pennsylvania health companies form ACO: 3 things to know
ACA changes under Biden largely positive for nonprofit hospitals, Fitch says