Vytalize Health Launches Charitable Initiative to Relieve Medical Debt Burden
Initial donation to RIP Medical Debt will erase $2 million in debt for families living on Long Island, furthering Vytalize Health's commitment to supporting high-quality, preventative care
HOBOKEN, N.J., July 24, 2023 (Newswire.com) - Vytalize Health, a leading provider enablement platform, announced a new charitable initiative to support families burdened by medical debt.
The campaign started with a donation to the New York nonprofit RIP Medical Debt, which specializes in purchasing and forgiving outstanding healthcare expenses. Vytalize Health's initial gift was raised through a company-wide fitness challenge and will forgive $2 million in loans for residents of Long Island, where Vytalize Health supports a robust network of over 3,000 primary and specialty care providers through its IPA of NY.
"Value-based care addresses the root cause of the broken healthcare system, of which medical debt is a symptom. We're grateful for the work RIP Medical Debt is doing and thrilled to support them as we forge ahead with redesigning healthcare and our relationship with it," said Faris Ghawi, Co-Founder and CEO at Vytalize Health.
Healthcare-related debt is a widespread issue nationwide and a leading reason many people forgo getting the healthcare they need. According to a study by the Kaiser Family Foundation (KFF), adults with healthcare debt are more than twice as likely as those without debt to postpone needed healthcare because of the cost. Evidence shows these delays can lead to negative health outcomes and increase costs overall for the healthcare system.
"Unpaid medical bills prevent people from accessing the care they need, which leads to worsening health conditions, delayed diagnosis, and increased risk of chronic disease. These consequences often lead to expensive emergency care due to lack of preventative screenings, check-ups and vaccines that prevent issues from becoming larger and less treatable," said John Torontow, M.D., MPH, EVP and National Medical Director at Vytalize Health.
There is growing momentum to alleviate debt and provide relief to individuals and families facing financial hardship due to healthcare expenses. The ultimate goal is to curb the rising cost of healthcare, further improve access, and ensure everyone across the country receives the treatment they need before symptoms get worse and patients wind up in the hospital.
About Vytalize Health
Vytalize Health is a risk-bearing provider enablement platform addressing the healthcare industry's biggest challenges with its cutting-edge value-based care delivery system. Vytalize partners with more than 3,000 leading providers to improve the quality of care through evidence-based medicine and a patient experience rooted in kindness. By delivering the right data at the right time in the workflow to physicians and their staff, Vytalize makes its partners more efficient and effective, allowing them to focus on proactive, personalized medicine to improve the value of care and lower costs. Learn more at www.vytalizehealth.com.
Source: Vytalize Health