A legal term that many outside of the medical or legal industries may have never hear is “Letter Of Protection” or LOP. The unfamiliarity with this term is generally because it is only utilized by persons who are involved in accidents or who are injured by the negligent actions of another, in most cases arising from automobile accidents and injuries. In these types of legal cases, the injured person many times finds themselves in the precarious position of being in need of immediate medical treatment in the form of surgeries, rehabilitations or other procedures, but is unable to cover the costs of these treatments on their own. Because of their own inability to pay for the costs of treatment out of pocket, they either need to wait until a settlement has been reached, which will seriously compromise both the amounts of money received in a settlement as well as their own health and well being because treatments are not being performed in a timely manner. Many physicians and medical treatment facilities are hesitant to accept these types of patients due to the risks of non-payment that surround them. If the case is lost or drags out to timeframes that are lengthy, the physician is faced with the situation of having provided treatments that he or she has every right to be paid for, but not being able to collect the money owed due to the financial situations of the victim or the legal status of the settlement. The physician or treatment provider is caught in the middle of a situation that only can have two outcomes, and one of those outcomes is the facility not being paid.
A Letter Of Protection is a legal document provided by a lawyer or alternative medical financing company like Med-Care Solutions, which will guarantee payment for treatments performed for a patient. The letter itself serves as a form of “medical lien,” which is a situation allowing an entity to pay bills associated with medical treatment for a patient, and assuming all of the risks associated with collections of that debt. A “Letter Of Protection” gives physicians the green light to perform the treatments that are necessary to improve a patient’s quality of life without the worries of the legal aspects of the case surrounding them, as they are given a guarantee that they will be paid for their services in a timely manner. Even if the settlement is not in the patient’s favor and no collection of a settlement is ever completed, the physician is still paid for their treatments. Through consideration of LOP patients from Med-Care Solutions, physicians are able to open up the additional revenue streams associated with risky patients who cannot pay out of pocket at the time of treatment. With these new revenue streams in place, the physician can concentrate on treatment instead of bill collections, and grow their practice significantly. In order to find out more about our “Letter Of Protection” or “LOP” programs, contact our representatives today.