The American Dental Association is concerned about a proposal that would prohibit credit reporting agencies from including medical debt when running credit checks.
Five notes:
1. The Consumer Financial Protection Bureau issued its proposed rule in June, saying it would eliminate as much as $49 billion of medical debts that "unjustly lowers credit scores for 15 million Americans."
2. The ADA penned a letter to the CFPB with several recommendations for the proposal aimed at mitigating adverse impacts on dental practices, according to an Aug. 14 news release.
3. ADA President Linda Edgar, DDS, and Executive Director Raymond Cohlmia, DDS, said in the letter that the current proposal could reduce the incentive for patients to prioritize payment of their dental bills.
4. The ADA said in its letter that it wants to balance consumer protections with the financial sustainability of healthcare providers.
5. The ADA's recommendations include implementing a phase-in period to allow practices to adjust their billing systems and collaborating with stakeholders to gather data on the implications of the rule.