Cash flow from Medical Lien Management
Many states are enacting new laws strengthening Health Management Organizations’ (HMOs) rights to enforce medical liens and for medical lien management. These liens are often placed to recover the treatment costs paid out on behalf of their insured, that are then recovered through their insured’s third-party personal injury claim. Similar federal laws exist for Medicare and Medicaid liens in order to create a better medical lien management system.
A third-party claim is one where you’re injured due to the negligence of another person or company, such as in a car accident or slip and fall. If your HMO or PPO (Preferred Provider Organization), Medicaid, or Medicare paid for any of your medical treatment, you’ll probably have to reimburse them for at least part of the amount. Be sure that you have the proper medical lien management system in place to avoid having to pay medical bills out of pocket.
You can usually negotiate, or “compromise” the amount of a medical lien. Some states actually require HMOs and PPOs to compromise medical liens by certain percentages, depending on the settlement amount. Be sure to check with your state insurance board to find out if those percentages apply to you.
Medcare Solutions specializes in the purchase of current and historical individual or portfolio of medical liens, primarily personal injury, worker’s compensation from physicians, facilities and hospitals nationwide. Many providers don’t accept medical lien patients because they lack the expertise to evaluate the patients’ underlying case or are unfamiliar with the process. After a careful case evaluation, we can purchase the lien at a pre-negotiated contacted rate and manage the entire process including all the paperwork.
Medical liens allow health care providers to treat the uninsured with the expectation of getting paid from the proceeds of a case upon settlement or judgment. Providers may have to wait years for payment, or refer the lien to a collection agency, eventually obtaining only a portion of the lien’s face value. Selling LOPs ensures timely and guaranteed payment and reduces collection costs and office overhead. Case Funding’s trouble-free LOP purchase program provides liquidity to providers that they can use however they choose.
Medcare Solutions can help you with your medical liens and medical lien management.