For surgery centers and medical facilities that provide surgical procedures, surgery on lien is a way to open up a lucrative new revenue stream that you may not have been able to previously consider due to the risks associated with collections, as well as the problems that come with aging debt. A surgery center functions on cash flow, and the ability to pay the expenses associated with running a facility in a timely manner keeps you in business. The payments that you collect and the accounts receivable that you have on your books are the lifesblood of the company, giving you the ability to pay your own bills. Unfortunately, most patients and insurance companies are in no hurry to pay you for the services you have provided, and the delays that are associated with these slow payment timeframes will potentially compromise your daily operations as you do not have enough cash on hand to cover your own bills, even though you have large amounts of money that is owed to you. The accepting of patients who need surgery but have presented problematic potential collection situations due to legal proceedings or outstanding issues only furthers the risks associated with keeping the accounting in the black, and many surgical centers as well as medical providers shy away from accepting these types of patients because of their inherent risks. With a secure program in place that allows you to accept “surgery on lien” patients, you can forget about the potentials of late or non-payment, as Med-Care Solutions assumes all the risks.
When you provide your surgical services to a patient that does not have the ability to pay cash up front, and is involved in a situation where they need to provide a guarantee of payment through some form of contractual obligation, you assume all of the risks that come with the patient not collecting a settlement and therefore not being able to cover their expenses that are owed to you. By allowing the surgical patient to receive the procedures they need through a lien situation, their payments are guaranteed by the collection process itself, that if money cannot be collected then some other form of assets will be utilized to cover the bills. These types of complicated legal agreements are difficult for surgical centers and medical providers to navigate, as the legalities of the contracts must be iron-clad, while still having the risks of non-payment through bankruptcy of another legal avenue. Med-Care Solutions takes care of all of the legal aspects of these types of situations for you, allowing you to concentrate on providing the procedures that are your specialty while collecting the money owed to you through our purchase of that debt. While you can benefit from the new revenue streams of patients that you once had to reconsider because of the collection risks, we take on the potential losses associated and provide you with prompt payments through our ownership of their debt. Our ‘surgery on lien” programs are a win-win, giving you the cashflow you need and eliminating the risks that plagued you. Contact Med-Care Solutions today to find out more.