Capio, the nation's leading purchaser of non-performing healthcare accounts, welcomes the introduction of The Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024. This bipartisan bill to require credit reporting agencies to consider positive payments in credit scores, enabling consumers who are making payments to boost their credit scores.

LAWRENCEVILLE, Ga., Oct. 3, 2024 /PRNewswire-PRWeb/ -- Capio, the nation's leading purchaser of non-performing healthcare accounts, welcomes the introduction of Reps. Don Bacon (R-NE) and Marie Gluesenkamp Perez's (D-WA) bipartisan bill to require credit reporting agencies to consider positive payments in credit scores, enabling consumers who are making payments to boost their credit scores. The Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024 represents a significant step towards establishing patient-focused solutions that help to alleviate the financial burden of medical debt. Capio CEO Mark Detrick issued the following statement following the introduction of the bill:

"Medical debt is an issue that brings financial and emotional burden to millions of Americans and their families. At Capio, we understand the need for a compassionate, balanced approach to help relieve this burden," said Mark Detrick, CEO of Capio. "By ensuring that responsible payment behaviors are reflected in credit scores, the Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024 provides patients with the recognition they deserve and the opportunity to regain financial stability."

"The majority of patients work diligently to meet their financial obligations, yet these efforts often go unrecognized under current credit reporting practices. The Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024 addresses this by ensuring that on-time payments are factored into credit evaluations, offering patients a fairer chance to access financial services and rebuild their credit. Positive credit reporting is already helping consumers making rental payments and mortgage payments boost their credit scores, and medical debt payments should be no different."

"This legislation is about supporting individuals and families who are striving to overcome the financial challenges of medical debt," Detrick added. "By encouraging timely payments, the bill also strengthens the healthcare system, ensuring that providers can continue to offer accessible and sustainable care. Capio remains committed to advocating for policies that prioritize patient financial wellness and promote equitable solutions within the healthcare ecosystem."

About Capio

Since 2008, Capio has helped millions of patients resolve their debts. Today, Capio manages over $49 billion in patient accounts receivable and has partnered with more than 1,000 provider clients across the United States. Capio supports healthcare providers and physician organizations by increasing cash flow, reducing bad debt expense while delivering compassionate, flexible resolution solutions to patients.

Learn more about Capio's patient-focused approach here: capiofi.com/patient-bill-of-rights/.

Media Contact

For media inquiries, please contact capiomedia@fticonsulting.com.

Media Contact

Trent Rosebrook, Capio, 1 971-930-4196, trent.rosebrook@capiofi.com, www.capiofi.com

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SOURCE Capio