Kaiser Health News

What One Lending Company’s Hospital Contracts Reveal About Financing Patient Debt

Published

1 year ago

August 8, 2023

by Noam N. Levey
Tue, 08 Aug 2023 09:00:00 +0000

With tens of millions of Americans burdened by medical debt, hospitals and other medical providers are increasingly shuttling their patients into loans serviced by banks, credit cards, and other financial services companies.

The arrangements have proven very profitable for lenders. But, as KFF Health News reported in November, the rise of the patient financing industry is often less welcome for patients, who can end up in loans that pile interest on top of what they owe for their medical care.

UNC Health in North Carolina, for example, historically did not charge interest on payment plans patients enrolled in to pay off their debts. But KFF Health News found that within two years of the public university health system signing a contract with AccessOne, a private equity-backed lender, to finance the plans, nearly half of its patients were in loans that charged interest.

The financial risks faced by patients and their families have sparked interest from federal regulators, including the Consumer Financial Protection Bureau. Last month, the Biden administration announced a new investigation into companies that finance medical care.

As federal scrutiny mounts, KFF Health News is posting contracts and other documents obtained through public records requests that illustrate AccessOne’s arrangements with three public systems: UNC Health, Atrium Health, and AU Health.

Both UNC Health and Atrium Health redacted significant portions of their contracts, including key terms. AU Health provided its contract without redactions.

The documents can be found below.

-UNC Health began contracting with AccessOne in 2019. As of February 2022, more than 100,000 UNC patients were enrolled in an AccessOne plan.

-Atrium Health, a nonprofit system with roots as a public hospital in Charlotte, North Carolina, signed its contract with AccessOne in 2014.

-AU Health, Georgia’s main public university hospital system, has contracted with AccessOne since 2019.

By: Noam N. Levey
Title: What One Lending Company’s Hospital Contracts Reveal About Financing Patient Debt
Sourced From: kffhealthnews.org/news/article/what-one-lending-companys-hospital-contracts-reveal-about-financing-patient-debt/
Published Date: Tue, 08 Aug 2023 09:00:00 +0000

Did you miss our previous article…
https://www.biloxinewsevents.com/amid-lack-of-accountability-for-bias-in-maternity-care-a-california-family-seeks-justice/

Up Next

Seeking Medicare Coverage for Weight Loss Drugs, Pharma Giant Courts Black Influencers

Don't Miss

Amid Lack of Accountability for Bias in Maternity Care, a California Family Seeks Justice

Kaiser Health News

LGBTQ+ People Relive Old Traumas as They Age on Their Own

Published

2 days ago

December 24, 2024

Staff Editor

kffhealthnews.org – Judith Graham – 2024-12-24 07:00:00

SUMMARY: Bill Hall, a 71-year-old HIV survivor, has endured numerous health challenges, including depression, heart disease, and cancer since contracting the virus in 1986. His struggles are compounded by trauma from childhood, where he faced bullying and abuse in a government boarding school. LGBTQ+ seniors like Hall often face isolation, with many living alone and lacking social support. By 2030, the number of LGBTQ+ seniors is projected to double, increasing their vulnerability to health issues and mental struggles. Many have experienced profound loss from the AIDS crisis, leading to ongoing emotional challenges. Support services remain critical for this aging population.

Read the full article

The post LGBTQ+ People Relive Old Traumas as They Age on Their Own appeared first on kffhealthnews.org

Kaiser Health News

Caseworkers Coax Homeless People out of Las Vegas’ Tunnels for Treatment

Published

3 days ago

December 23, 2024

Staff Editor

kffhealthnews.org – Angela Hart – 2024-12-23 07:00:00

SUMMARY: In Las Vegas, case manager Bryon Johnson searches the underground tunnels for homeless individuals like Jay Flanders, who suffers from health issues and substance abuse. Escaping rising housing costs and law enforcement, around 1,200 to 1,500 people live in these tunnels, which provide shelter from extreme weather but pose significant health risks, especially during monsoon season. Outreach workers emphasize the dangers of drug addiction and untreated health conditions, urging residents to seek medical care above ground. As housing costs soar, many homeless individuals, including tourists, end up in these perilous conditions, seeking cover from societal judgment and harsh weather.

Read the full article

The post Caseworkers Coax Homeless People out of Las Vegas’ Tunnels for Treatment appeared first on kffhealthnews.org

Kaiser Health News

In Settling Fraud Case, New York Medicare Advantage Insurer, CEO Will Pay up to $100M

Published

5 days ago

December 20, 2024

Staff Editor

kffhealthnews.org – Fred Schulte, KFF Health News – 2024-12-20 16:31:00

SUMMARY: Independent Health Association of Buffalo and Betsy Gaffney, CEO of medical analytics firm DxID, have agreed to a settlement of up to $100 million to resolve Justice Department allegations of fraudulent Medicare billing for exaggerated or non-existent health conditions. Independent Health will pay up to $98 million, while Gaffney will contribute $2 million. Neither party admitted wrongdoing. The case was triggered by whistleblower Teresa Ross, highlighting issues of “upcoding” in Medicare Advantage plans. Ross, having faced repercussions for her allegations, will receive at least $8.2 million from the settlement. This case underscores the challenges of regulating billing practices in the Medicare system.

Read the full article

The post In Settling Fraud Case, New York Medicare Advantage Insurer, CEO Will Pay up to $100M appeared first on kffhealthnews.org