California Workers Comp Funding
Medical facilities like physician’s offices and surgical centers need an ongoing influx of new patients in order to keep their own doors open and their lights on due to the fact that ongoing bills that are accumulated by the facility itself cannot be delayed, yet at the same time patients will often delay payment of bills they accumulate for months and sometimes even years. A patient who has the ability and means to pay out of pocket for treatments they need is actually a rarity, and the overwhelming majority of patients in need of treatment are not able to simply pay at the time of service. Instead, the majority of patients are relying on another party to cover their bills, either their own insurance or the insurance of another person/business. These types of cases are more risky for a medical facility to take on, as they run a higher risk of non-payment due to the case being lost or the settlement taking an extended period to come through. Riskier still are patients involved in lawsuits against the uninsured, as in people who have been injured by the actions of another but the other party not having insurance to cover them. These types of cases are very risky for medical facilities to take on due to the fact that the case may not be judged in the favor of the injured party, and even in the cases where the patient wins collection may still be quite difficult. The levels of risk associated with each type of patient will generally reduce the patient-load at a facility significantly, as the manager or physician in charge chooses not to take patients as the risk levels rise with their associated group. The ability to take on riskier patient cases from larger groups could increase the profits seen by the facility significantly, but most small clinics and independent medical care-givers do not have the ability to take these types of cases as they do not have the ready-cash necessary to cover costs until payments are made. These types of patients could significantly grow a practice, if only there was a way to reduce the associated risks.
California is the largest state in the country, and shows the biggest pool of workers of any state as well. Naturally there is a larger pool of injured workers in California than in any other state as well, and these workers are in need of immediate treatments in order to improve their quality of life. Medical facilities who have the ability to take on these large pools of high-risk patients will fare significantly better over time than those who must turn them down due to cash shortages, and without some form of financing there is usually no way for a small facility to delve into this pool. California worker’s comp funding through Med-Care Solutions allows for these treatment facilities and medical providers to take on the riskier patients from this pool without absorbing the risks themselves, and instead providing them with the options of taking payments immediately by selling the accounts receivable directly to Med-Care Solutions. By being able to accept California workers comp cases and reducing the associated risks, facilities have the ability to enjoy an ongoing stream of cases that only grows as employment levels in the state increase. These alternative forms of financing allow physicians to practice their craft without the added costs of collections or the risks of bad debt and lengthy collection times. California workers comp funding is the logical way to grow your practice. Contact Med-Care Solutions today to explore the options.