Dr. Kamran Abdo And MedCare Solutions: Providing Crucial Funding For Patients In Need
Dr. Kamran Abdo knows the medical funding industry, and understands the difficult situations that so many people who are injured through no fault of their own or at their workplace face due to the lengthy legal processes associated with many injury cases. When he created Pacific Family Clinics in 1992 he got to see their struggles first-hand, as the treatments and therapies that were necessary to keep them comfortable or provide them with a decent quality of life were delayed until a settlement could be reached between the patient and the party at fault. The simple fact that created so much hardship for patients who were involved in legal proceedings was that nobody involved wanted to cover the bills associated with treatment until the case was closed. Even the insurance companies that represented their clients who had been injured in automobile accidents would routinely refuse to cover the bills associated with treatments until the case was finalized in court. This gap between when payments could be expected and the actual time that the patient needs to be treated was very problematic for both patients and medical treatment providers, who were expected to simply provide the services immediately but wait and hope to be compensated for their services. Dr. Abdo recognized the need for a solution to these issues, and went on to form MedCare Solutions in order to provide options.
Dr. Abdo learned through his experience running one of the most successful multi-disciplinary clinics on the West Coast that there was an asset available to medical facilities that was not traditionally considered by loan providers, in the accounts receivable that are on the books but remain uncollected. While the collections process in generally a lengthy one filled with risks of default and aging accounts, the solution to the issues of needing prompt payments for treatments provided lay in the creation of an entity that would specialize in that one thing, purchase of the accounts receivable and the management of the process associated with collection of the debt. Dr. Abdo realized that this type of business could not only provide the ability for medical providers to have guaranteed payments within a short timeframe, but it could also be used to facilitate relationships between the parties involved in these types of situations, patients, attorneys and medical facilities. By bringing them together in a working relationship, attorneys specialized in representation of injured workers or personal injury situations would have a short-list of medical facilities that would provide treatments necessary to their clients before the case itself was settled, due to the fact that they knew they would be paid for their services. The medical providers understood that through this type of business relationship they would have access to a larger pool of patients who were once considered too risky to treat for the potential of non-payment. By bringing all the parties together into an ongoing, structured and managed relationship Dr. Abdo was able to bridge the gap that existed between those who provide the necessary treatments to patients and those who represent them in order to collect the money that is due to them. MedCare Solutions was born and grew to be an industry leader in the field of medical financing.
Kamran Abdo realized when he created MedCare Solutions that the relationships that exist between the parties have the ability to sour easily, as one party is completely dependent on the other in order to advance the case towards its completion, and an amicable settlement. Simply providing the lien-based payments was not enough for medical facilities to be able to consider this as a method of growing the practice, and not enough for the attorneys involved to be comfortable in knowing the case would not be slowed or compromised by the treatment provider. These transactions must be handled delicately and with utmost attention to detail, as even the smallest detail being missed can cause potential problems. Dr. Abdo created a management software system designed to allow ongoing access to every detail of the process to all the necessary parties, and to provide reminders for the necessary elements to be completed, assuring that nothing is missed and there are no issues with the process. This dedication to the process allows the associated parties to rest assured that it is being handled appropriately and with the professionalism that is necessary. With transactions over $5,000 being written by Dr. Abdo personally, MedCare continues to exceed the expectations of patients, attorneys and treatment providers alike, and has grown to become one of the most trusted names in the medical financing field.