California Workers Comp Funding
California workers comp funding
California is home to the largest pool of active workers in the United States, and due to the mandatory requirement of all employers in the state to hold “worker’s compensation insurance” the largest pool of potential worker’s comp cases is present. Quite simply put, there are more worker’s comp cases in California at any one time than everywhere else in the country. Worker’s comp cases are typically slow moving, as the legal proceedings that go along with an injured worker will generally cause payments to be deferred for long periods as the accused party denies responsibility for the injuries sustained. The requirement for treatment on the patient’s part is still necessary and cannot wait until case resolution, leaving the medical facility or practitioner who provides the treatment to be forced to wait lengthy periods of time to recoup costs and receive payments. This situation is also further complicated with the potential risks of non-payment if the case is decided against the patient.
Due to the fact that many medical facilities operate on a tight budget and do not have the pools of available cash that can both cover their own ongoing costs and payroll while waiting for cases to be closed, the problem in California is an overwhelming need for large amounts of patients to be treated, but medical facilities being nowhere near able to shoulder the responsibilities and risks associated with providing treatments in advance of payments. Even in cases where letters of protection (LOP) are in place from legal representatives of patients, many times the treatments necessary are so costly that practitioners are forced to choose to refuse to accept worker’s comp cases, and therefore cut off a valuable and lucrative revenue stream due to the risks. The answers to these common problems comes in the form of “California workers comp funding programs” available through Med-Care Solutions.
Through the purchase of the medical accounts receivable on the books of California treatment providers and medical facilities, Med-Care Solutions allows for balance sheets to remain in order through providing of immediate funding associated with the cases. Med-Care Solutions purchases your outstanding accounts receivable outright, and unlike a loan against those assets (which is nearly impossible to secure through traditional methods,) assumes all of the risks associated with non-payment or delays involved with California workers comp cases. The funding options that Med-Care Solutions provides to facilities just like yours then allow you not only to recoup the potential losses of aging accounts, but also consider the absolutely enormous pool of worker’s comp cases that are in process throughout the state at any moment. The facilities that benefit the most from the pool of workers who are injured at work every day in California are the ones who either have enough cash on hand to wait out the legal process or the ones who have secured alternative sources to keep funding flowing in a regular way. Med-Care Solutions provides the alternatives that you have been looking for, and the California worker’s comp funding solutions that can grow your practice to levels unheard of previously. Contact a representative today.