ApolloMD announces a partnership with Cascade365 to work in concert with RIP Medical Debt, resulting in the successful abolishment of more than $350M of patient medical debt spanning over 800,000 patient accounts. Recipients of debt abolishment began receiving notification by way of a RIP branded letter beginning in the month of June.
A multispecialty clinical services provider for hospitals and health systems, ApolloMD sees this action as part of a focus on quality patient care. “At ApolloMD, devotion to the patients treated by our physicians and advanced practice clinicians extends to include removing barriers to patient care by working to assist in the reduction of their medical debt. We continually seek opportunities to serve our patients in the best possible way and are excited to provide this support through RIP and Cascade365,” says Amy Katnik, ApolloMD Chief Operating Officer.
RIP Medical Debt is a national not-for-profit which uses donor contributions to purchase low-income patients’ medical debt and abolish it tax-free, sending letters to patients to deliver the happy news. Ruth Lande, RIP’s VP of Hospital Relations, confirmed that they are purchasing ApolloMD’s qualifying debt through their partnership with Cascade365. “We are very pleased to be working with Cascade365 to access so much debt. We have relieved debt for over 4 million families so far and hope more providers and collectors will join us in this critical work.”
“While Cascade365 promotes financial accountability, we also recognize that some patient-guarantors simply cannot pay a bill in its entirety or, in some instances, at all,” confirms Lee Brockett, CEO of the Cascade365 Family of Companies. “Cascade365 provides income-based settlement options and, when possible, it also partners with companies such as RIP Medical Debt to forgive medical debt in a patient-friendly manner. In this immediate instance, I am ecstatic to help extinguish $362MM in patient-owed medical debt in partnership with ApolloMD.”
SOURCE: PR Newswire