RIP Medical Debt Donation Will Resolve Debt for Approximately 25,000 Patients
Bethesda, Md. – December 11, 2023 – Aledade today announced a donation to RIP Medical Debt, to relieve more than $24 million in debt for patients in Arkansas and West Virginia, two states with some of the highest proportions of people with medical debt in the country.
This announcement follows Aledade’s previous donation to RIP Medical Debt in 2022, where the company relieved nearly $95 million debt for more than 110,000 patients in Mississippi and Louisiana.
“This investment is part of our ongoing mission to do what’s good for patients, practices and society,” said Aledade CEO and Co-Founder Dr. Farzad Mostashari. “As we approach the end of the year we are mindful of how many patients are worried about seeing their doctor because of an overdue medical bill and we hope this step can help people in West Virginia and Arkansas have the chance to get back on track to get the care they need. Our investment has an outsized return on retiring debt for patients so they can reconnect with their primary care doctor, get a wellness check and preventive screenings to find and treat issues before things become an emergency.”
RIP Medical Debt uses data analytics to pinpoint debt that targets households that earn 4x or below the federal poverty level or whose debts are 5 percent or more of annual income. Then, RIP purchases unpayable medical debts in large, bundled portfolios for a fraction of their face value; on average, one dollar donated abolishes $100 of medical debt. Medical debt relief is source based, meaning people cannot request help with medical bills. Recipients simply receive a RIP Medical Debt branded letter in the mail sharing that certain medical debt or debts have been erased and any negative credit marks have been removed.
“We serve a population of people who, through no fault of their own, are buried under medical debt and the holiday season can be an extra difficult time when you’re trying to make ends meet” shares RIP Medical CEO and president Allison Sesso. “We’re grateful for Aledade’s continued support in lifting these burdensome debts off of people’s shoulders and making healthcare more accessible.”
Nearly one third of Americans have health care-related debt, which can lead to delayed or skipped care. Among those who report skipping or postponing health care services, 57 percent of U.S. adults say their health worsened as a result. This issue is especially prevalent in Arkansas and West Virginia, since both states rank as the lowest (47th and 50th respectively) for public health outcomes. These are also states where Aledade has longstanding partnerships with primary care practices and continues to seek ways to support patients in achieving better health.
This philanthropic donation is a continuation of Aledade’s mission as a public benefit corporation to enhance primary care and improve patient health outcomes nationwide by focusing on preventive, coordinated care.
Aledade, a public benefit corporation, is the largest network of independent primary care in the country, helping independent practices, health centers and clinics deliver better care to their patients and thrive in value-based care. Through its proven, scalable model, which includes cutting-edge data analytics, user-friendly guided workflows, health care policy expertise, strong payer relationships and integrated care solutions, Aledade empowers physicians to succeed financially by keeping people healthy. Together with more than 1,500 practices and CHCs in 46 states and the District of Columbia, Aledade shares in the risk and reward across more than 150 value-based contracts representing more than two million patient lives under management. To learn more, visit www.aledade.com or follow on X (Twitter), Facebook or LinkedIn.
About RIP Medical Debt
RIP Medical Debt (RIP) is a national 501(c)(3) nonprofit that was founded in 2014 by former debt collectors. To date RIP has acquired — and abolished — over $10 billion of burdensome medical debt, helping over 7 million families and addressing a major social determinant of health. RIP purchases debts for a fraction of their face value in bundled portfolios and partners with individuals, faith-based organizations, government, foundations and corporations to empower donors by converting every dollar contributed into $100 of medical debt relief on average.
RIP partners with hospitals, health systems and physician groups to acquire medical debt for abolishment. RIP rose to national prominence on an episode of HBO’s “Last Week Tonight” with John Oliver in which RIP facilitated the abolishment of $15M in medical debt. To learn more, visit: https://ripmedicaldebt.org
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