I am a professor of accounting at the Johns Hopkins Carey Business School and a professor of health policy & management at the Johns Hopkins Bloomberg School of Public Health. An expert on healthcare accounting, finance, and policy, I have testified in Congress, written for popular press, and published my research in leading academic journals.
of those with hospital medical debt had health insurance. It’s tempting for policymakers and private entities to provide medical debt relief. Has medical debt relief actually helped individuals who received it?involving 83,401 individuals. They found “no improvements in financial well-being or mental health from medical debt relief, reduced repayment of medical bill s, and if anything, a perverse worsening of mental health .
The law of accounting dictates that when an individual or business receives debt relief, the entity must lose assets, surrender some ownership, incur new debts, or record a gain—none of which provides unambiguous sustainable benefit, unless the debt relief is a form of payment to reward the efforts exerted by the entity. In this case, effort exertion improves the entity’s earning ability.
Therefore, pro-growth and pro-job policies that allow able-bodied adults to earn more income through their efforts would mitigate medical debt in a sustainable manner. Income,for conducting this pioneer study that revealed the inconvenient truth of medical debt relief. It’s up to the public to ensure that their findings guide evidence-based policy solutions to effectively address medical debt for Americans.
Debt Relief Medical Bill Mental Health Hospital Charity Care Price Depression Stress Anxiety
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