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After watching the John Oliver on medical debt and the ancillary industries surrounding making people’s lives miserable after having to deal healthcare providers, I’ve always wanted to do something similar if I won the lottery…
There’s something extremely wrong with providers getting the ability to take a tax write off AND be able to sell the debt off to harassing collection leeches…If enough of an impact was being made to grab the eyes of the IRS then things -could- be changed and we’re all treated like humans again..
Being that more than 70+% of “providers “are now employed by healthcare systems, you need to focus your discontent on the healthcare systems, not the individual physicians and others. And your premise that providers could write off bad debt is in accurate also.
If it were not for Congress, hospitals would be able to negotiate directly with the consumer, so the consumer could pay 10 cents on the dollar for the medical care.
Because Medicare has a guaranteed lowest cost, hospitals cannot legally negotiate with the patient below that cost. Hospitals do not pay income taxes (often not paying property taxes either); this is by design in exchange for the medical care that they provide for discounts or free. So, the hospitals are encouraged to have super high prices on their chargemasters that then get written off. And, these paper losses help offset the revenue that hospitals take in to show a more balanced balance sheet.
Patrick G. is correct. Hospitals also used to, and may still, receive an annual ‘supplemental check’ from MedicareMedicaid to offset uninsured and free care they provided. Depending on the hospital’s size this could be in the tens of millions of dollars.