Medical Lien Management
Medcare Solutions Medical Lien funding program provides specialty financing solutions to medical providers , such as hospitals, surgical centers, MRI centers and pain management clinics (that offer procedures) nationwide, through the purchase of their personal injury medical liens (Letters Of Protection). We help create cash flow in order to grow their practice and stay competitive. Our funding programs enable practices to purchasing the most cutting‐edge medical equipment and hire new staff instead of tying up funds in receivables. They use Medcare Solutions to eliminate risk, save the expense of underwriting cases and provide the time and peace of mind to concentrate on medical procedures not collections.
In workers’ compensation, rising medical costs have been a nationwide issue, but in California, insurance companies and claims administrators must deal with a unique factor that further escalates medical costs and that’s the fact that medical providers can file a lien against payers at any time during the life of a claim, even after a case has closed. The financial and administrative burdens are significant. A recent study by the California Commission on Health and Safety and Workers’ Compensation (CHSWC) indicated that medical liens are one of the largest unnecessary cost drivers in workers’ compensation. Based on the commission’s analysis of medical liens filed and the rate of growth seen over the last two years, it anticipated that over 350,000 liens would be filed for 2010, and projects over 470,000 will be filed for 2011. Its recent “Liens Report” estimates that California employers and insurers spend approximately $200 million every year on loss-adjustment expenses to handle medical lien claims. In order to effectively resolve and defend against medical liens, it’s important that a claims and medical management team have key best practices in place.
Medical liens are a long-standing problem. Every managed care decision whether related to bill review, utilization, or the medical provider network (MPN) could ultimately lead to a provider waging a lien dispute against the payer and putting an employer’s hard-won managed care savings at risk. Many payers, administrators, and managed care companies may not have a comprehensive lien defense and resolution strategy in place. Employers end up paying for managed care services that render no real value in the end, as savings can be lost in the lien litigation and settlement process.
Medcare Solutions can assist you with your medical liens. We can help you turn your accounts receivables into positive cash. Call Today!