Impact on DMEPOS Providers: The Biden Administration Announces New Actions to Lessen the Burden of Medical Debt and Increase Consumer Protection
on April 19, 2022
The White House is seeking to help lessen Americans' medical debt burden, Vice President Kamala Harris announced Monday, April 11, 2022. In its latest effort to help people deal with increased costs amid skyrocketing inflation, and with emphasis on collection practices by providers and third-party collection agencies, the White House laid out a four-point plan to help protect consumers. Officials from several federal agencies spoke of the problems of medical debt, which plagues about one-third of American adults and is the largest source of debt in collections. Being behind in bills also prompts some people to avoid seeking additional health care and can affect consumers' ability to buy homes or start small businesses. VGM has been contacted by several DMEPOS suppliers with several questions and concerns relative to their ability to waive patient co-payments in conjunction with the White House efforts to ease medical debt. VGM’s vice president of regulatory affairs Mark Higley and vice president of payer relations Craig Douglas presents a summary of the new actions, the potential affect – along with certain perils – to DMEPOS companies concerning the topics covered in this newly released memo, and offers a comprehensive procedural outline to mitigate potential risks with federal, state and private payers. Read More Here!