Capio

Had a wonderful morning delivering 100 stuffed animals to the Nemours Children's Health team (Nicole Gandolfo, Kennedy Hubbard, Carrie Zier, Sarah Brakoh and Kelsey Cebula and Ali 🐾). Perfect timing for their half-way to Christmas celebration! 🎁🎄 #GivingBack #CommunitySupport #DedicatedtoChildrensHealth

Capio understands the complexities of managing medical debt, especially with recent proposals from the Consumer Financial Protection Bureau (CFPB) potentially changing how it is reflected on credit reports. While the CFPB aims to exclude medical debts from credit reports, an article in U.S. News notes that this won’t erase the debt itself: “If you start ignoring your medical debt, wage garnishment and other legal measures might make paying back your other debts even harder, which can also impact your credit score.” The article also notes that while this change aims to improve credit scores and facilitate easier access to mortgages, it's essential to understand its limitations. Medical debts transferred to third-party lenders like credit card companies would still impact credit reports. Moreover, hospitals and creditors retain options such as wage garnishment and litigation to collect debts, which can affect credit status. At Capio, we're helping patients navigate these changes responsibly by empowering you with the tools and knowledge to manage medical debt effectively and taking a strong stance against litigation. By advocating for #PositiveReporting, we are ensuring your financial health remains intact. #Capio #MedicalDebt #CapioCares

Congratulations to Jim Richards on his induction Into the ACPAC Hall of Fame. Your understanding of the critical importance of advocacy and your generous support has amplified the voice of Capio and the entire ARM industry on crucial issues. Thank you, for your remarkable contributions!

At Capio, our Patient Bill of Rights stands as a testament to our commitment to compassionate medical debt resolution. We prioritize your dignity by listening attentively to your circumstances and maintaining a respectful demeanor throughout our interactions.   Clear communication is paramount. We provide transparent details of your obligations and payment options in plain language, promptly confirming agreements in writing.   Fairness is non-negotiable. We do not impose interest or fees, pursue litigation, or sell your debt. Instead, we use BuoyFi to tailor repayment solutions based on your ability to pay, aiming to respond swiftly and accurately.   Capio also offers opportunities for debt forgiveness based on financial hardship, supported by our dedicated Patient Advocacy Team.   Our goal is to empower you with tools, services, and financial education to regain control, reduce your debt responsibly, and achieve lasting financial health with manageable monthly payments as low as $25.00.   #CapioCares #MedicalDebt https://lnkd.in/g8vCBFRC

Sharing an informative read from Forbes’ health care section from Ge Bai PhD, Professor of Accounting and Health Policy & Management at Johns Hopkins, who highlighted the unintended consequences of the CFPB’s new proposed rule to remove medical debt from credit reports:   According to Bai, “Knowing this ban will discourage patients from paying medical bills, providers will seek alternative ways to protect their revenues, such as requiring upfront payments, limiting access to care, and raising prices.”   The impacts of the CFPB rule will be felt beyond the medical community. Credit reports are also vital tools used by lenders to assess creditworthiness, impacting everything from loan approvals to interest rates. It may result in lenders tightening credit – creating unintended consequences for consumers who seek lending services. Capio advocates for solutions that address the root causes of medical debt while preserving the integrity of credit reporting. By promoting #PositiveReporting and encouraging financial literacy, we can empower patients to manage medical expenses responsibly.   #BuildCreditTogether #MedicalDebt #PositiveReporting https://lnkd.in/gNxzFu5d

At Capio, we understand the impact of medical debt on Americans. With 41% of working-age individuals burdened by medical debt, many feel stuck. That’s why we use BuoyFi. BuoyFi’s goal is three-fold: · Affordable Payments: Understand what you can pay. · Practical Plans: Build a payment plan to resolve debt in a reasonable time. · Future Savings: Save for future medical expenses. We’ve helped millions reduce over $65 million in debt, and with BuoyFi, we’re empowering more patients to take control of their financial health and secure a brighter future. #CapioCares #BuoyFi #InnovativeSolutions https://lnkd.in/g_BEeJd2

What a day! I’m so grateful for the opportunity to deliver a donation of stuffed animals to CommonSpirit Health-St. Anthony Health. We are proud of our partnership to support your mission and commitment to delivering compassionate care. Our team at Capio, along with countless volunteers and leaders from the revenue cycle community, prepped and stuffed these at HFMA ANI in Las Vegas. Thank you all. Thank you to Gerrit Ostermick Heidi Wilhelm and Stephanie Webb for making this possible. This is without a doubt the best part of my job! Capio CommonSpirit Health BuoyFi Healthcare Financial Management Association (HFMA)

ICYMI: Last month, the Wall Street Journal Editorial Board published an insightful opinion piece outlining the potential unintended consequences of the CFPB’s recent proposed rulemaking to remove medical debt from credit reports.   As stated by the WSJ Editorial Board: “Removing a credit notice for not paying medical bills will result in more unpaid bills. It will also reduce the incentive to buy health insurance, which will undermine the Administration’s goal of increasing coverage.”   At Capio, we recognize the critical role of balanced credit reporting in the medical debt industry as detailed by the Wall Street Journal Editorial Board.   Removing medical debt from credit reports could result in fewer individuals repaying their debt, leading to more unpaid bills and less motivation to carry insurance. Additionally, without credit reporting, providers may have to raise prices or demand more upfront payments, which could limit access to care, especially for low-income patients.   We firmly believe that positive reporting will reward consumers for positive debt repayment behavior, leading to better financial outcomes and providing a consumer-centric alternative to the CFPB’s proposal.   Join us in advocating for balanced, responsible credit reporting.   #BuildCreditTogether #MedicalDebt #CapioCares   https://lnkd.in/g8a9nsfG

We believe that positive credit reporting is a crucial step toward transforming the landscape of medical debt management. Our patient-focused approach, which includes no fees, no interest, and no lawsuits, underscores our commitment to alleviating the financial burden on patients while supporting health care providers. Why Positive Reporting Matters Empowering Patients: Positive credit reporting can help patients build and maintain good credit, even as they manage medical expenses. This approach rewards responsible financial behavior and provides a pathway to better financial health. Encouraging Payment: Patients are more likely to pay their medical bills and maintain health insurance when they know their positive actions are reflected in their credit reports. This benefits both patients and health care providers. Supporting Health Care Providers: Positive credit reporting can help health care providers manage their cash flow and reduce bad debt expenses, ensuring they can continue to deliver essential services. Since 2008, Capio has been dedicated to helping millions of patients resolve their debts compassionately. Let's work toward a future where medical debt management is fair and supportive to both patients and health care providers. #PositiveReporting #MedicalDebt #CapioCares #BuildingCreditTogether   https://lnkd.in/gvPTM2Yz

At Capio, we understand the significant challenges posed by medical debt. That’s why we take an innovative and patient-focused approach of no fees, no interest, and no litigation. By collaborating with various stakeholders – including the CFPB – our goal is to alleviate the burden of medical debt on patients. While we support the move away from negative credit reporting, provided it does not harm consumers and health care providers, we have serious concerns about the potential unintended consequences of the proposed rule, including that it may lead to an increase in litigation against vulnerable patients, patients being disincentivized to make medical payments, and harm to providers’ finances.   At Capio, we advocate for well-considered, balanced solutions – like positive credit reporting – that support patient financial wellness while safeguarding essential health care services. We remain committed to working with the CFPB and other stakeholders throughout this rulemaking process to find the best outcomes for all parties involved.   Read Capio’s full statement in response to the CFPB proposed rulemaking below.   #PositiveReporting #Capio   https://lnkd.in/guYaKNYY