Building on a three-and-a-half-year partnership with the ABIM Foundation to advance research on trust, AcademyHealth is proud to announce a new initiative focusing on the critical intersection of medical debt and trust in health care.
Medical debt has far-reaching consequences, not only for patients' financial well-being but also for their mental and physical health. Often referred to as financial toxicity, this burden can erode trust in health care systems and lead to poorer health outcomes. Patients burdened by debt may delay care, struggle to adhere to treatment plans, or face significant life disruptions such as difficulty affording basic necessities, increased credit card debt, or even bankruptcy.
On June 10, 2024, the ABIM Foundation convened more than 60 health care leaders and advocates to identify best practices for addressing medical debt in the U.S. A number of promising approaches emerged, including:
- Expanding financial aid programs
- Improving ethical billing practices
- Committing to price transparency
However, barriers to progress include insufficient policy protections, disconnects between system leaders and clinicians, and a lack of awareness about the impact of policies on patients. Additionally, research gaps remain, such as understanding the effects of hospital debt collection policies on patient behavior and financial sustainability.
In response, our initiative will:
- Explore the nature and prevalence of health system medical debt policies and practices
- Fill critical research gaps related to medical debt and trust
- Promote cultural and operational transformation within health systems
By tackling medical debt and its associated harms, this initiative aims to contribute to a more equitable, patient-centered health care system that fosters trust between patients, clinicians, and their health systems to improve overall health outcomes.
Elizabeth Cope, Vice President of Health Systems Improvement at AcademyHealth, shares: “At AcademyHealth, we are deeply committed to advancing equitable and trustworthy health care. This initiative represents a critical step forward in addressing one of the more pervasive and damaging barriers to trust in health care—medical debt. We know that financial toxicity not only impacts patients’ well-being but also undermines their trust in the very systems designed to help them. This project offers a unique opportunity to explore solutions that balance financial sustainability with compassion and transparency. I am especially excited about the potential for this work to identify actionable strategies that hospitals and health systems can implement to help alleviate the burden of medical debt. By fostering dialogue, building the evidence base, and promoting practical changes, we hope to create a more just health care environment where trust between patients and providers can flourish. Our ultimate goal is to ensure that no patient has to choose between their health and their financial stability. I am eager to see how this collaboration can help transform not only policies but also the culture of health care to prioritize trust and equity.”
Jessica Perlo, Executive Vice President of the ABIM Foundation, writes: "Medical debt is a profound and timely challenge in the U.S., undermining not only the financial stability of patients but also their trust in the health care system. This continued partnership with AcademyHealth is a critical step toward addressing the root causes of medical debt and fostering a culture of trust, transparency, and equity in health care."
Stay tuned for updates as we continue to work toward a future where health care systems and clinicians are better equipped to support patients and their communities.