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We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. The uninsured are now at greater risk than ever before because medical companies are selling their debt to other financial companies that know how to get a little blood out of the proverbial stone. Small medical organizations don’t have the resources or knowhow to recover what is owed to them. This opens up a business opportunity to anyone with the resources, and I mean debt collectors, to make a few bucks from those that can pay a little. Better to get something than nothing. The way it works is the collection company assesses the probability of retrieving some money to pay down the debt and pays the medical company pennies on the dollar for those accounts. Clearly they believe they can squeeze a little money to cover those pennies and make a profit. They are probably right since most people really would pay their way rather than sponge off the system. Trouble is that many of the ER visits are by the uninsured since they can’t afford a doctor and sudden serious illness requires immediate attention. This is a real catch 22. The ER visit is a very expensive proposition versus a doctor visit. For many years I have known that part of my own personal insurance payments went towards funding the uninsured but that is changing. Once the debt collectors are on the scene there is going to be a high price to pay by the very people who can afford it the least. Comments6 Comments so far |
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[…] Snoskred - Life in the Country wrote an interesting post today!.Here’s a quick excerpt We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. The uninsured are now at greater risk than ever before because medical companies are selling their debt to other financial companies that know how to get a little blood out of the proverbial stone. Small medical organizations don’t have the resources or knowhow […]
[…] GraniteGrok wrote an interesting post today!.Here’s a quick excerpt We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. The uninsured are now at greater risk than ever before because medical companies are selling their debt to other financial companies that know how to get a little blood out of the proverbial stone. Small medical organizations don’t have the resources or knowhow […]
[…] Empty Nest wrote an interesting post today on Medical debtHere’s a quick excerpt We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. The uninsured are now at greater risk than ever before because medical companies are selling their debt to other financial companies that know how to get a little blood out of the proverbial stone. Small medical organizations don’t have the resources or knowhow […]
[…] Empty Nest wrote an interesting post today on Medical debtHere’s a quick excerpt We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. The uninsured are now at greater risk than ever before because medical companies are selling their debt to other financial companies that know how to get a little blood out of the proverbial stone. Small medical organizations don’t have the resources or knowhow […]
[…] Empty Nest wrote an interesting post today on Medical debtHere’s a quick excerpt We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. The uninsured are now at greater risk than ever before because medical companies are selling their debt to other financial companies that know how to get a little blood out of the proverbial stone. Small medical organizations don’t have the resources or knowhow […]
[…] admin had some great ideas on this topic.You can read a snippet of the post here.We all know that medical costs are steadily going through the roof but I didn’t realize until today that medical costs are being moved from medical providers to debt collectors. Yep, that same brand of collector that goes after the car. … […]