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Underscoring the massive scale of America’s medical debt problem, a New York-based nonprofit has struck a deal to pay off old medical bills for an estimated 20 million people. Undue Medical Debt is retiring $30 billion worth of unpaid bills in a single transaction with Pendrick Capital Partners, a Virginia-based debt trading company. But even proponents acknowledge these deals cannot solve a crisis that now touches around 100 million people in the US. Some advocates say systemic changes such as ensuring hospitals offer sufficient financial aid to patients and reining in high medical prices would be more valuable. But many government officials see retiring bills as part of a larger strategy to make it easier for patients to avoid debt in the first place.
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