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According to CBS News Customers at Credit Karma carried an additional $2.2 billion in overdue medical debt from January 2020 through March 2021, reaching about $47 billion in total — the highest point in at least 16 months. Overdue medical bills are also impacting more people, Credit Karma also found that an additional 2.5 million people saw their medical debt enter collections since the pandemic started. In this episode, we talk about healthcare receivables and an out-of-the-box approach to some of the issues surrounding healthcare debt. In 2014 two former debt collection executives, Craig Antico and Jerry Ashton founded a company called RIP Medical Debt.Their website mentions they've helped over 2.5 million people abolish 4 billion dollars of medical debt and that number is growing every day. With so much medical debt and increasing healthcare costs, we need out-of-the-box solutions. Craig shares insight into healthcare debt, why it makes sense to embrace additional options in how to handle the debt, and lessons learned in their journey.Guest: Craig AnticoCraig Antico is the co-founder of RIP Medical Debt, the national charity that has acquired and abolished over $5 billion in unpayable medical debt for over three million people since 2014. Craig understands the ins and outs of the debt collection industry because he was a financial industry leader in collections, debt buying, and outsourcing for 30-years! After completing his undergraduate degree at Florida Southern College in finance and economics, Craig went on to Pace University for his MBA in finance. His decades of experience include working for IBM, Johnson & Johnson, and several Fortune 100 companies.Purchasing medical debts to then abolish them, the core of RIP's work, didn't cross Craig's mind until a chance introduction facilitated by his long-time partner in the debt collection industry – and RIP co-founder – Jerry Ashton. Jerry had connected with a group of activists that wanted to cancel debts as a charitable good using donated funds. Realizing the depth and scope of medical debt's burden on already struggling Americans, Craig and Jerry resolved to start a nonprofit to champion this cause.After a hard road learning how to raise money, Craig and Jerry got their big break in 2016 when producers from the HBO series, Last Week Tonight with John Oliver, inquired about the show's host purchasing and eliminating medical debt for an upcoming episode. Thanks to RIP's guidance, John Oliver abolished $15 million in debt on a segment that has been watched by over fifteen million people.Craig has appeared on NBC Nightly News with Lester Holt, PBS Newshour, and many other media outlets, including over 50 local TV stations throughout the country. The New York Times, The Guardian, Forbes, AARP, The Washington Post, and many others have published articles about Antico and RIP Medical Debt. He is the author of the book “End Medical Debt,” now in its second edition. Resources: Website: https://ripmedicaldebt.org/ Company LinkedIn: https://www.linkedin.com/company/rip-medical-debt/ Email: cjantico@gmail.com LinkedIn: Personal: https://www.linkedin.com/in/antico/Additional Resources:RIP Medical Debt Story2021 US Census Medical Debt in America Report
OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast chats with Allison Sesso, Executive Director of RIP Medical Debt. She talks about the issue of medical debt, how RIP Medical Debt was established, and what model it operates on. She also offers advice to people who want to donate to a nonprofit or are looking to start one. EPISODE HIGHLIGHTS: Allison is a born and bred New Yorker with a background in political science and public administration. She worked with 200 nonprofits during her tenure at the Human Services Council of New York. She joined RIP Medical Debt in January 2020—just before the pandemic started. People don't have enough money to pay their medical bills, but the healthcare industry expects them to pay these bills out of their pocket. We tend to spend a lot on healthcare but not on the social determinants of health. Craig Antico and Jerry Ashton leveraged their expertise in debt collection and started RIP Medical Debt in 2014. The company has a “debt engine” that pairs donor dollars to the available debt. A key donation came from MacKenzie Scott, one of the richest women in the world, who generously donated $50 million. One in five Americans has medical debt. The total amount of medical debt is around $1 trillion and it's the top cause of bankruptcy. Allison talks about how COVID affected the healthcare system and medical debt. She also shares her thoughts on the Affordable Care Act. About 70% of hospitals do not sell their debt at the risk of getting a bad reputation. 501(c)(3) organizations do not pay taxes and there are strict rules that must be followed. A few of these include you must have a board of directors to oversee operations. You cannot support for-profit entities and you must remain nonpartisan. Allison shares the difficulties of fundraising and what people should do when trying to raise money. John Oliver, host of the Last Week Tonight show on HBO did an episode on medical debt and mentioned RIP Medical Debt. The day after, their website crashed and donations skyrocketed. You can't be shy about asking for money. Articulate the vision and how the money will be used. If you're excited about the mission, people will get behind your charity. Allison warns people against starting a charity on their own. There are nonprofit associations—within each state and at a national scale—that can help. 3 KEY POINTS: RIP Medical Debt is a charitable mission-driven organization that uses donations to buy portfolios of bad debt from hospitals. It's abolished $4.9 billion of debt to date. Be aware of nonprofits with unusually low overhead rates, and take note of who's donated to the charity you're interested in. If you want to start a 501(c)(3), make sure your idea is new. Know what you're getting into and prepare yourself for the work that needs to be done. TWEETABLE QUOTES: “Starting a nonprofit is very labor-intensive and it takes time.” - Allison Sesso “Keep being motivated by how you're going to change the world.” - Allison Sesso RESOURCES: RIP Medical Debt website: https://ripmedicaldebt.org/ RIP Medical Debt on Facebook: https://www.facebook.com/RIPMedicalDebt/ RIP Medical Debt on Twitter: https://twitter.com/RIPMedicalDebt RIP Medical Debt on Instagram: https://www.instagram.com/ripmedicaldebt End Medical Debt book by Jerry Ashton and Craig Antico: https://www.amazon.com/End-Medical-Debt-Unpayable-Healthcare/dp/0989224120 National Council of Nonprofits website: https://www.councilofnonprofits.org/ Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea Want to be notified of new episodes: Subscribe and follow: https://followthepodcast.com/hea #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #medicaldebt #nonprofit #fundraising #charity
Every day 79,000,000 Americans choose between paying their medical bills and basic needs like food and shelter. Medical debt destroys the financial stability of large segments of America’s most vulnerable communities and also targets the middle class, driving many families who are barely getting along into poverty. Craig Antico, Co-Founder, RIP Medical Debt and Tammie Jackson, Vice President, Go-to-Market Strategy and Sales, TransUnion Healthcare discuss why they believe it is a smart business decision for healthcare providers to abolish medical debt. Hear why they believe forgiving medical debt can help improve an individual’s health and wellness, and how providers can benefit from debt forgiveness.
Craig Antico, once the guy collecting your medical debt, is now the one erasing it. Hear his story, along with an exciting announcement from our parent organization, Faith Commons!
Craig Antico, co-founder and COO of RIP Medical Debt, joins host Dr. Bob Kaiser for a discussion about medical debt — its root causes, what his nonprofit does to help people who are burdened with it and solutions for fixing the problems that cause it. Links discussed in this episode: RIP Medical Debt's End-of-Year Report End Medical Debt Book
Acton Institute's Ben Johnson comments on how countries like Italy with its centralized healthcare system is struggling to address the COVID-19 outbreak. Craig Antico of RIP Medical Debt shares how Churches are helping people in their communities find relief from medical debt.
Acton Institute's Ben Johnson comments on how countries like Italy with its centralized healthcare system is struggling to address the COVID-19 outbreak. Craig Antico of RIP Medical Debt shares how Churches are helping people in their communities find relief from medical debt.
Some days, you're so happily in love that you could cry. And others… you feel nothing at all. Allison and Gaby offer advice to a listener struggling to make sense of her conflicting emotions after recently being diagnosed with Bipolar II Disorder. They're then joined by Craig Antico, a former debt collector who turned his life around and started a charity to help those drowning in medical debt. And later, we debate whether people can truly change. (Good news! They can!) Watch how RIP Medical Debt got its big break on Last Week Tonight with John Oliver! Listen to Just Between Us Ad-Free on Forever Dog Plus: http://foreverdogpodcasts.com/plus FOLLOW JUST BETWEEN US: https://www.instagram.com/jbupodcast JUST BETWEEN US IS A FOREVER DOG PODCAST: https://foreverdogpodcasts.com/podcasts/Support this podcast at — https://redcircle.com/just-between-us/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy
Some days, you’re so happily in love that you could cry. And others… you feel nothing at all. Allison and Gaby offer advice to a listener struggling to make sense of her conflicting emotions after recently being diagnosed with Bipolar II Disorder. They’re then joined by Craig Antico, a former debt collector who turned his life around and started a charity to help those drowning in medical debt. And later, we debate whether people can truly change. (Good news! They can!) Watch how RIP Medical Debt got its big break on Last Week Tonight with John Oliver!
Thanks to people like Craig Antico, the crushing blow of medical debt is having less effect. Craig’s nonprofit organization, RIP Medical Debt, buys medical debt portfolios from hospitals and physician groups with donated money to alleviate the debt of those who simply can’t pay. You might not be shocked that nearly half of all GoFundMe campaigns have been related to medical bills, but you might be pleasantly surprised how far $1 can go toward abolishing medical debt when organizations like RIP Medical Debt become involved. And don’t miss Craig's surprise gift to the patient community near the end of the episode! Want to stream our station live? Visit www.HealthcareNOWRadio.com. Find all of our show episodes on your favorite podcast platforms. https://www.healthcarenowradio.com/listen/
Thanks to people like Craig Antico, the crushing blow of medical debt is having less effect. Craig’s nonprofit organization, RIP Medical Debt, buys medical debt portfolios from hospitals and physician groups with donated money to alleviate the debt of those who simply can’t pay. You might not be shocked that nearly half of all GoFundMe campaigns have been related to medical bills, but you might be pleasantly surprised how far $1 can go toward abolishing medical debt when organizations like RIP Medical Debt become involved. And don’t miss Craig's surprise gift to the patient community near the end of the episode! See acast.com/privacy for privacy and opt-out information.
Jerry Ashton – Ending Medical Debt – And Creating A Healthy, Caring Health Care SystemAired Tuesday, December 17, 2019 at 2:00 PM PST / 5:00 PM EST Interview with RIP Medical Debt Co-Founder Jerry Ashton, Co-Author of “End Medical Debt”“It’s becoming all too common nowadays to thank a surgeon by saying, ‘I shall forever be indebted to you.’” — Swami BeyondanandaAs a professional comedian, it’s my job to “pump ironies” so here is an irony supplement to munch on: Americans spent $3.65 trillion on healthcare in 2018, according to a report from Axios. The amount is larger than the GDPs of such countries as Brazil, the U.K., Mexico, Spain, and Canada. And yet, we rank 27th in the world in health. In a study of 11 countries, the U.S. ranked LAST for health outcomes, equity and quality, despite having the highest per capita health earnings. The U.S. also had the highest rate of mortality amenable to healthcare, meaning more Americans die from poor care quality than any other country involved in the study.And, it gets worse.Not only does our health care outcome fall far short of health industry income, but the fundamental inequity – and iniquity – of the current system has created another life-threatening metastasis in our body politic: $1 trillion in unpayable medical debt in America. Medical debt causes hardships for individuals, families, communities, and the nation as a whole.Our guest this week, Jerry Ashton, along with his End Medical Debt co-authors Robert Goff and Craig Antico created a charity, RIP Medical Debt, the charity made famous by John Oliver on HBO for abolishing $15 million in medical debt. Since 2014, RIP has purchased and forgiven more than $750 million on medical debt. The charity recently reached the milestone of abolishing $1 billion in medical debt.Jerry Ashton has more than 40 years of experience in the credit and collections industry. In 1995, to uplift the way debtors are treated, he formed CFO Advisors in New York. His teams serviced a half billion in receivables for Fortune 500 companies. Inspired by Occupy Wall Street’s debt forgiveness campaign, he joined with Craig Antico to found RIP Medical Debt. Jerry serves as RIP’s Director of Education and Outreach.In our conversation today, we will look at the inner workings of our “too big to fail, too broken to succeed” health care system. Since the three authors of the book have three divergent political perspectives, we will have a chance to discuss what happens when diverse viewpoints converge and converse on one issue. The authors disagree on the solutions, but they all agree on their one simple act of charity — buying and forgiving medical debt.If you’re interested in how we arrived at our current “faith-based” health care system (“pray you don’t get sick”) and ways we can create a system that works for each and all, please tune in this Tuesday, December 17rd at 2 pm PT / 5 pm ET. http://omtimes.com/iom/shows/wiki-politiki-radio-show/To find out more about End Medical Debt, please go here. https://hokuhouse.com/endmedicaldebt/And now that we ARE back with new shows (and planning a Zoom video element after the first of the year), we invite you to help support Wiki Politiki and our mission to bring about “the great upwising” and functional politics! See below.One more thing… How YOU and WE Can Make a DifferenceHave you noticed that regardless of which of the two political parties you vote for, neither of them seem to be willing to confront Monsanto and agribusiness? Are you disgusted and frustrated by the stonewalling by the two-party duopoly? Are you ready to empower a truly effective “third-way” movement that can move the dial? Are you ready for … oxymoron alert … FUNCTIONAL POLITICS? If so, go here to find out more: https://wikipolitiki.com/functional-politics-an-idea-whose-time-has-come/Support Wiki Politiki — A Clear Voice In The “Bewilderness”If you LOVE what you hear, and appreciate the mission of Wiki Politiki, “put your money where your mouse is” … Join the “upwising” — join the conversation, and become a Wiki Politiki supporter: http://wikipolitiki.com/join-the-upwising/Make a contribution in any amount via PayPal (https://tinyurl.com/y8fe9dks)Go ahead, PATRONIZE me! Support Wiki Politiki monthly through Patreon!
Quick business and health question: How much medical debt exists in this country? Keep in mind, the U.S. is one of the wealthiest countries in the world. In fact, the U.S. spends more per capita on healthcare than any other country. Well, the amount according to RIP Medical Debt will blow your mind: $1 Trillion. What can be done about it? That's the subject of this conversation and a new book, End Medical Debt: Curing America's $1 Trillion Unpayable Healthcare Debt. The book is an extraordinary exploration of not only how this problem evolved, but also how it brings down the individuals and families burdened with unpayable debt. The authors explain how the system works or, more often than not, doesn't work. They also offer their own views on how we can get out. The authors come from wildly different perspectives, all in the business or healthcare field. Jerry Ashton brings more than 40 years of experience in the credit and collections industry. Robert Goff spent an equal amount of time in the healthcare industry itself. Craig Antico is a financial industry leader in collections, debt buying, outsourcing, and consulting. They are the cofounders of RIP Medical Debt, which locates, buys, and forgives medical debt on behalf of individual donors, philanthropists, and organizations who provide financial relief for people burdened by unpayed and unpayable medical bills. Here's how it works. RIP seeks out distressed medical debt in the collections industry and the community of medical providers, including hospitals and medical practices. RIP offers to buy this debt for pennies on the dollar, which is how RIP can make such a significant impact. The average ratio is 1 to 100. That means a donation of $50 can buy back as much as $5,000 in medical debt. $1 million can buy $100 million in debt. Here's the punchline. Once this debt is in their possession, it's abolished as a gift from RIP to the patient, no strings attached, a gift made possible by complete strangers, people bailing out people. It's a simple, powerful solution to an incredible problem. Check them out at ripmedicaldebt.org.
It's like an anti-collection agency. RIP Medical Debt is buying millions in unpaid medical bills in order to forgive the debts. Meet founders Craig Antico and Jerry Ashton, and hear their plan to bury billions in their "debt cemetery."
https://www.ripmedicaldebt.org/ There is a crisis gripping America, one which affects approximately one out of every five Americans. It’s a crisis of debt, medical debt, which accumulates to over 100 billion dollars per year. RIP Medical Debt was established with a mission to purchase and abolish unpaid medical debt. With donated funds, RIP buys medical debt and abolishes it. No strings attached. And all through your help. RIP Medical Debt, Inc., was founded in mid-2014 by two former collections industry executives, Craig Antico and Jerry Ashton. Having worked for decades in the medical field, the two were acutely aware of the number of Americans who shoulder the burden of unpaid medical debt, and the enormity of that debt. They also knew that they were uniquely qualified to help. Using their experience and connections within that world, they developed a strategy to aggressively tackle this scourge. Essential to that strategy is the generosity of individuals, foundations and corporations. With their donations, RIP searches out distressed medical debt in the collections industry and within the community of medical providers, including hospitals and medical practices, and offers to buy this debt. But, for pennies on the dollar, which is how RIP is able to make such a significant impact. $50 can buy as much as $5,000 in medical debt. $1,000,000 can buy $100 MILLION in debt! See also: Jerry’s book The patient, The Doctor, and The Bill Collector https://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias%3Dstripbooks&field-keywords=The+patient%2C+The+Doctor%2C+and+The+Bill+Collector
Rally & Engage - Online Fundraising & Marketing Insights For Nonprofits
On this episode we talk with Craig Antico, the co-founder and CEO of RIP Medical Debt, about how you can turn your expertise into a purposeful mission, how to move from advocacy to action, and the fundraising challenges of advocating for people that are hesitant to share their stories or are anonymous. RIP Medical Debt was founded with the mission of seeking out, buying, and then abolishing unpaid and unpayable medical debt. Two million Americans this year will file for bankruptcy because of medical expenses. A financially toxic cocktail of higher insurance rates and co-pays, loopholes in coverage, escalating medical treatments and prescriptions costs, and incredibly expensive deductibles can submerge people into debt no matter what their financial condition. Through sophisticated data analytics, RIP analyzes its medical debt portfolios to pinpoint those who are most in need of relief and then negotiates to purchase this debt for a significantly reduced amount – rates typically made available only to large organizations in the debt buying industry. Once this debt is purchased – debtors are unburdened of this unpaid item. SHOW NOTES: *RIP Medical Debt's website ~ https://www.ripmedicaldebt.org/ *John Oliver features RIP Medical Debt ~ https://www.ripmedicaldebt.org/the-miracle-of-debt-forgiveness-on-hbos-last-week-tonight-with-john-oliver/ *RIP Medical Debt testimony & news report ~ https://www.youtube.com/embed/TW2EyJVa-jw *charity: water's give forward campaign ~ http://archive.charitywater.org/waterforward-project/ Find more episodes on iTunes (bit.ly/CVpodcast) or our website (www.causevox.com/podcast). Looking for more nonprofit insights? Visit our blog (bit.ly/nonprofit_blog) and see our collection of 400+ posts sharing all things fundraising and marketing. Easily create a powerful fundraising campaign in minutes. Try CauseVox for free! ~ www.causevox.com
Guests: Jerry Ashton and Craig Antico of RIP Medical Debt.............we will learn about their veterans program: "RIP has proudly embarked upon a campaign to help veterans afflicted by medical debt that they cannot repay....Donations made to the Veteran's Campaign will be used exclusively to abolish this debt............ Please check out this blog post about the company! Click to support some of our friends.... ...CLICK AUDIBLE.COM, YOUR SOURCE FOR AUDIO BOOKS! CHECK OUT MY FRIEND CARLOS GUEDES AND HIS MUSIC........ FOLLOW ME ON TWITTER......