Impact on Credit58% of debt collections on U.S. credit reports are due to medical bills, damaging credit scores and financial stability for millions.
Delayed Treatment38% of consumers delayed care because they were confused about what their medical insurance would cover.
Medical Debt BankruptcyOver 60% of personal bankruptcies in the U.S. are linked to medical debt, with many stemming from billing issues and miscommunications.
Out-of-Network Charges20% of insured adults have received unexpected out-of-network bills, despite seeking care at in-network facilities.
Patients Unable to Pay40% of adults report difficulty paying medical bills, leading many to skip recommended tests or treatments due to the cost.
Errors in Hospital BillsHospitals make around 4,000 preventable medical billing mistakes daily, adding a significant burden to patient finances.
Difficulty Resolving Errors29% of patients report spending more than a month trying to resolve a billing issue, leading to frustration and financial stress.
Prescription Over-billing25% of patients have been over-billed for prescriptions, with some paying up to 10 times the correct price due to coding errors.
Rising Medical Debt Medical debt has increased by 24% over the past five years, affecting millions more individuals and families.
Debt and Employment22% of individuals with medical debt have had to take on additional part-time work to manage their expenses.
Coverage Gaps15% of individuals with insurance still face significant out-of-pocket expenses due to high deductibles and coverage gaps.
HomeownershipIndividuals with significant medical debt are 40% less likely to own a home compared to those without medical debt.
Debt Collection Practices48% of medical debt collections involve aggressive practices like lawsuits or wage garnishments.
Retirement Savings27% of individuals with medical debt have had to deplete their retirement savings to cover medical expenses.
Educational AttainmentPeople with significant medical debt are 30% less likely to pursue higher education due to financial constraints.
Health OutcomesIndividuals with medical debt are 30% more likely to report worse health outcomes compared to those without medical debt.