ProMedica partnership eliminating $222M in medical debt

Toledo, Ohio-based ProMedica is partnering with RIP Medical Debt to relieve $222 million in medical debt for more than 108,000 patients. 

RIP Medical Debt purchases debt in bundles from healthcare providers and collections agencies at a significant discount. Qualifying patients are those who earn at or below four times the federal poverty level or have debts that are 5% or more of their annual income, according to an April 11 ProMedica news release shared with Becker's. Those benefiting from the partnership do not have to apply and will receive an RIP Medical Debt-branded letter in the coming weeks outlining which debts have been eliminated. 

ProMedica said that by collaborating with RIP Medical Debt it will be able to recoup a small portion of the medical debt, which "enables the health system to continue to support the community in various ways." ProMedica provided more than $84 million in free or discounted charity care in 2023. 

"For a variety of reasons, some qualifying individuals did not apply for financial assistance, causing them to accrue medical debt," said Kevin Sharp, ProMedica's vice president of revenue cycle, acute and clinical services. "Through this collaboration, which includes the support of our local elected officials, we’ve been able to identify qualifying individuals with medical debt and help provide some welcomed relief."

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars