Private equity giants are ‘creating and collecting’ $220B in medical debt from 14M Americans

If you’ve recently endured surgery or some illness that required hospitalization, here’s something else to make you feel ill: Private equity has fueled a medical debt spiral in pursuit of profit, according to an industry watchdog.

A just-released report from the Private Equity Stakeholder Project reveals that medical debt now impacts 14 million people and totals at least $220 billion. Remarkably — sickeningly, even — this averages $15,714.29 per person or roughly one-quarter of the median American salary of $59,436 per the U.S. Bureau of Labor Statistics. READ MORE