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Daily Briefing

Around the nation: Number of Americans with medical debt on their credit reports decreased by nearly 18%


A new report from the Consumer Financial Protection Bureau (CFPB) found that the number of Americans with medical debt on their credit reports decreased by 17.9% between 2020 and 2022, in today's bite-sized hospital and health industry news from the District of Columbia and Colorado.

  • Colorado: CommonSpirit Health and AdventHealth announced plans to break up their longtime joint venture, Centura Health, which was formed in 1996. According to the health systems, the joint venture has reached its "natural maturity." CommonSpirit will take control of 15 hospitals in Colorado and western Kansas and AdventHealth Alamonte Springs will operate and manage five hospitals, including Avista Adventist Hospital, Castle Rock Adventist Hospital, Littleton Adventist Hospital, Parker Adventist Hospital, and Porter Adventist Hospital. (Kacik, Modern Healthcare, 2/14)
  • District of Columbia: Between 2020 and 2022, the number of Americans with medical debt on their credit reports decreased by 17.9%, according to a report released Tuesday by CFPB. In a separate draft report, White House officials said the decline likely resulted from their policies. In particular, officials said COVID-19 relief funds and an expansion of the Affordable Care Act contributed to the decline. However, CFPB has also been working to reduce Americans' medical debt. Last year, the major credit rating agencies said their reports will no longer include medical debts under $500 or debts that were repaid. In addition, the agencies are extending the time it takes for medical debt to appear on reports from six months to one year — a move that gives Americans more time to pay off their debt before it impacts their credit scores. White House officials said the decrease in medical debt could prevent people from avoiding necessary medical care over fears about medical bills. (AP/Modern Healthcare, 2/14)
  • District of Columbia: House Republicans have officially relaunched their investigation into the origins of the COVID-19 pandemic. A 12-member coronavirus response subcommittee has requested information from current and former members of the Biden administration, including Anthony Fauci, former director of the National Institute of Allergy and Infectious Diseases. The subcommittee is tasked with evaluating the origins of the COVID-19 pandemic. "This investigation must begin with where and how this virus came about so that we can attempt to predict, prepare or prevent it from happening again," said Rep. Brad Wenstrup (R-Ohio). "Government scientists and government funded researchers have so far been less than forthcoming in their knowledge and actions, including work with the Wuhan Institute of Virology and potential pandemic pathogens," he added. (Weixel, The Hill, 2/13)

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