Capio

This Thanksgiving, Capio is grateful for the opportunity to provide fair and compassionate ways to manage medical debt for patients. About 4 in 10 adults continue to struggle with outstanding medical debt, making our mission increasingly vital. ? In the spirit of giving, we urge the adoption of patient-first practices across the industry, like those in our Patient Bill of Rights – to ensure no interest, no fees, and no litigation against patients. The toll of medical debt – physical, mental, and financial – is all too real. Capio remains dedicated to providing empathetic solutions, so our customers can focus on what matters most: their health and well-being. https://lnkd.in/g8vCBFRC ? #CapioCares #PatientBillofRights #Thanksgiving #Thankful?

In a recent op-ed published in The Washington Times, our CEO Mark V. Detrick underscored the necessity of alternative, patient-centered approaches to relieving medical debt, including positive credit reporting. ? The?Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024, introduced by Representatives Don Bacon (R-NE) and Marie Gluesenkamp Perez (D-WA), would mandate positive credit reporting and help patients improve their credit scores by rewarding positive financial behavior – just like mortgage or car loan payments.? ? As Detrick highlighted, "Instead of being punished for missing a payment in tough times, patients can improve their credit scores while they pay off their medical bills at a manageable pace and build their financial health.” ? Capio has also already implemented other patient-centric policies such as our Patient Bill of Rights, which guarantees no additional interest or fees and no litigation against patients. We also leverage financial tools like the BuoyFi Calculator that ensure patients only pay what they can reasonably afford.? ? These practices, in addition to the passage of the positive credit reporting legislation, are essential to helping patients build their financial footing in the face of medical debt. ? Read more below. https://lnkd.in/gkA49fTr ? ?#MedicalDebt #FinancialWellness #PositiveReporting #CapioCares

In a recent press release, BuoyFi announced its support for the Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024, introduced by Reps. Don Bacon (R-NE) and Marie Gluesenkamp Perez (D-WA) in October 2024. Importantly, this bill would implement #PositiveReporting – ensuring on-time medical debt payments are reflected in credit scores to help patients build their credit profiles. ? As President of Buoyfi Steve Wright said, “We've seen the power of leveraging positive payment data in other sectors, like housing, and we believe the same is possible for medical debt.” ? We are proud to see @BuoyFi stand in support of this legislation, especially as we continue to use the BuoyFi Calculator for patients. The Calculator provides consumers with personalized debt repayment plans based on verifiable income data and is essential to fulfilling our mission of promoting compassionate, patient-centered solutions. ? At Capio, we believe everyone deserves agency in improving their financial situation. We’re not merely managing debt; we’re building lasting pathways to financial well-being for all. https://lnkd.in/g7XND_FZ ? #PatientCentric #MedicalDebt #FinancialWellness #CapioCares?#BuoyFi #PolicySolutions

At Capio we believe every patient deserves respect and compassion. Our Patient Bill of Rights stands as a testament to our commitment to providing compassionate, patient-centric medical debt solutions.? ? We help patients pay their debts without charging interest or fees, and we never resort to litigation over unpaid debts. We encourage an industry-wide adoption of this approach so we can work together to ensure patients have a fair way to manage their medical debt. https://lnkd.in/g8vCBFRC ? #CapioCares #FinancialWellness #Capio

A recent article from ACA International highlights the impact of the Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024 – a bill designed to help patients build credit as they work to pay down medical bills. ? Introduced by Reps. Don Bacon (R-NE) and Marie Gluesenkamp Perez (D-WA), the bipartisan bill would implement positive credit reporting for medical debt, which would reward patients for timely debt payments. This stands in contrast to the Consumer Financial Protection Bureau’s (CFPB) proposed rule that would remove medical debt from consumer credit reports entirely. ? As Rep. Gluesenkamp Perez noted “If you’re working hard to pay off your medical bills, you should be able to see it reflected in your credit score.”? ? Capio proudly supports the Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024 to help patients achieve stronger financial futures by giving them the credit they deserve. #MedicalDebt #PolicySolutions #ReportingMedicalDebtPaymentsasPositiveConsumerCreditInformationActof2024

Today, we honor?the brave men and women who have served our country. We are forever grateful for your sacrifice and dedication. #VeteransDay

Capio believes in uplifting consumers through their debt repayment journey. Through BuoyFi, we accomplish this goal by providing patients with a no-cost, personalized debt repayment plan that uses verified income data to simplify saving methods and organize medical bills – ensuring each patient pays only what they can afford. So far, BuoyFi’s proprietary settlement algorithm has generated average savings of over 75% for consumers off their medical bill. No consumer has been asked to make payments requiring more than 3% of their validated income. This is the Capio difference. https://buoyfi.com/ #MedicalDebt #FinancialWellness #CapioCares

Last month, Reps. Don Bacon (R-NE) and Marie Gluesenkamp Perez (D-WA) introduced the Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024, which would implement positive credit reporting for on-time medical debt repayments. This is a critical and balanced alternative to the Consumer Financial Protection Bureau’s (CFPB) proposed rulemaking to prohibit medical debt from appearing on credit scores. While the CFPB’s proposed rule could create a host of unintended consequences, #PositiveReporting rewards patients for timely payments, enabling them to boost their credit scores as they work towards greater financial stability. We call on our industry partners to support this legislation. Together, we can help consumers on their journey to financial wellness! https://lnkd.in/gq3_s6-v #NameOfBill #PositiveReporting #BuildCreditTogether

In a recent op-ed published in The Washington Times, Capio CEO, Mark Detrick underscores the need for patient-centered solutions to address medical debt, particularly through legislation like The?Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024. ? The bipartisan bill, introduced by Reps. Don Bacon (R-NE) and Marie Gluesenkamp Perez (D-WA), aims to reward patients for timely medical debt payments, offering a path to build credit. Positive credit reporting, already effective in other applications like car loans and mortgages, has shown success in strengthening credit scores and increasing credit visibility particularly for individuals with limited credit history. ? While Capio acknowledges that medical debt can be burdensome for millions of Americans and shares the goal of making repayment easier for patients, the Consumer Financial Protection Bureau’s (CFPB) proposed rule to remove medical debt from credit reports could harm patients and providers. Positive credit reporting would instead offer patients the financial confidence they need to allow for gradual credit improvement and strengthened financial health. ? As Detrick put it, "Instead of being punished for missing a payment in tough times, patients can improve their credit scores while they pay off their medical bills at a manageable pace and build their financial health.” ? Read more below. ? ?#MedicalDebt #FinancialWellness #PositiveReporting #CapioCares

Last month, the Consumer Financial Protection Bureau (CFPB) released The Fair Debt Collection Practices Act: CFPB Annual Report 2024, highlighting aggressive debt collection practices within the industry, alleging medical debt collection agencies have attempted to coerce patients into repaying their debts. Capio is different – We understand the financial and emotional burden of medical debt, and we implement our own compassionate approach to alleviate these burdens. Capio prioritizes compassionate, patient-centered solutions, strictly abiding by our Patient Bill of Rights that guarantees no litigation, no fees or interest, and no reselling to other collectors. We help patients pay only what they can afford. We encourage our industry peers to take the same approach. Together, we can ensure that patients are taken care of, even after their medical treatment. https://lnkd.in/g8vCBFRC #CapioCares #FinancialWellness #PatientBillofRights