Apollomd Relieves More Than $1 Billion In Patient Debt In Partnership With Cascade365 And Facilitated By Undue Medical Debt

(MENAFN- PR Newswire) Medical debt is the leading cause of personal bankruptcy in the United States. A study published in the American Journal of Public Health found that medical expenses and illness-related work loss contributed to 66.5% of bankruptcies. As a leading national multispecialty clinical services provider, ApolloMD views this initiative as an extension of its commitment to high-quality patient care. "Our dedication to the well-being of patients goes beyond the clinical setting," said Yogin Patel, MD, MBA, FACEP , ApolloMD's CEO. "By helping to reduce medical debt, we are breaking down barriers to care. ApolloMD is proud to remain financially independent and maintain low debt, so we are in a position to provide this much-needed relief in partnership with Undue Medical Debt and Cascade365."

By helping to reduce medical debt, we are breaking down barriers to care.

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Undue Medical Debt, a national nonprofit, uses donor funding to purchase and forgive the medical debt of low-income patients, notifying them with letters of relief out of the blue. "Through our collaboration with Cascade365, we're able to access and abolish a significant amount of qualifying medical debt, including from partners like ApolloMD. To date, we've relieved debt for more than 10 million families, to the tune of $15 billion and growing, and we hope to see more healthcare providers join us in this vital mission," shares Undue Medical Debt's VP of Provider Relations, Ruth Landé. Healthcare partners can learn more: .

Undue Medical Debt collaborates with providers like hospitals and physician groups along with collection agencies and debt buyers to acquire medical debts belonging to those primarily four times or below the federal poverty level. It then buys those accounts in bulk for a fraction of their face value, with debts over 7-years-old donated.

Lee Brockett, CEO of the Cascade365 Family of Companies, emphasized the importance of balancing financial responsibility with compassion. "While Cascade365 promotes financial accountability, we also recognize that some patients are simply unable to pay their medical bills in full-or at all," Brockett said. "We offer income-based settlement options and, when possible, work with organizations like Undue Medical Debt to forgive debt in a patient-centered way. In this instance, we're thrilled to partner with ApolloMD in eliminating $1 billion and counting in outstanding medical debt."

About ApolloMD
ApolloMD is a private, independent group with no outside ownership that partners with more than 100 hospitals nationwide to provide integrated, multispecialty physician, APC and practice management services in Emergency Medicine, Hospital Medicine and Revenue Cycle Management. Our high touch, solution-based approach emphasizes quality, efficiency, communication and patient experience. All eligible physicians and advanced practice clinicians have the opportunity to become owners giving them a stake in the company's success. ApolloMD works collaboratively with partner facilities to implement best practices and process improvement across the board in a cost-effective manner. Visit ApolloMD for more information.

About Cascade365
The Cascade365 Family of Companies provides accounts receivable liquidity solutions to the healthcare industry through its innovative suite of services, including AR purchase and finance, third-party collection servicing and revenue cycle optimization. Cascade365 is committed to promoting financial accountability while treating patient-guarantors in a fair, dignified, and lawful manner. Cascade365's patient-friendly focus includes income-based settlements and debt forgiveness. To learn more, please visit Cascade365 .

About Undue Medical Debt
Undue Medical Debt is a national 501(c)(3) nonprofit founded in 2014 by former debt collectors. To date Undue has acquired - and abolished - over $15 billion of burdensome medical debt, helping over 10 million families and addressing a major social determinant of health. Undue purchases debts for a fraction of their face value in bundled portfolios and partners with individuals, faith-based organizations, local and state governments, foundations and corporations to empower donors by converting every dollar contributed into $100 of medical debt relief on average.

Undue partners with hospitals, health systems and physician groups to acquire medical debt for abolishment. Undue rose to national prominence on an episode of HBO's "Last Week Tonight" with John Oliver in which Undue facilitated the abolishment of $15M in medical debt. To learn more, visit: .

SOURCE ApolloMD

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