The medical companies already sold the debt to debt servicing companies. It’s the debt collectors who are profiting, or (more likely) taking less of a loss on bad debt.
Also, they didn’t pay USD$15 million. They paid $150,000 to buy $15 million of debt at a penny on the dollar.
The organization that does this acknowledges that it’s a stopgap in the face of the human rights nightmare that is the USA’s healthcare system. It’s palliative care or harm reduction but not a long-term solution.
Dying woman’s last wish is to raise US medical profit by 15m?
The medical companies already sold the debt to debt servicing companies. It’s the debt collectors who are profiting, or (more likely) taking less of a loss on bad debt.
Also, they didn’t pay USD$15 million. They paid $150,000 to buy $15 million of debt at a penny on the dollar.
The organization that does this acknowledges that it’s a stopgap in the face of the human rights nightmare that is the USA’s healthcare system. It’s palliative care or harm reduction but not a long-term solution.
Medicare for all.
The orphan crushing machine isn’t going to feed itself.