The California Workers Compensation Problem
California has the largest population of active workers in the United States, and as a result of this large pool of people California also has the largest populations of workers who have been hurt on the job. One of the mandatory insurance requirements in California is that employers must be covered through a “workers comp policy,” which protects the employers from being sued directly by employees that have been injured while on the job in their facilities, or in an offsite location while engaged in duties for the employer. Worker’s comp is the agreement between an employee and an employer that the employee will not seek legal restitution beyond a settlement that is provided through the insurance policy itself. This protects the workers and the employer, as workers are not hindered in receiving their settlement by legal costs. The issues arise through the timeframes that are generally seen during the process, beginning with the injured worker filing a worker’s comp claim and ending with settlement. These timeframes can be quite lengthy due to the fact that the legal system in California is bogged down by the sheer volume of cases that are going on at any one time.
When a worker is involved in a worker’s comp case in California, the process will many times take longer than is comfortable in regards to getting the medical treatments that are necessary in order for the injured party to maintain a satisfactory quality of life. Many times, therapies, surgeries and rehabilitations are necessary and will not be disputed in the end, but due to the fact that closure has not yet been reached the payment for these procedures is not yet secured. This places medical facilities and practitioners in a situation where they must provide procedures and services that will be paid for once the settlement is reached, and not before. In many cases this will lead to medical service providers having to shy away from taking on cases like these, as they present a problem form the facility in terms of cash flow. Everything associated with providing the service to the patient costs the facility money, yet no money is recovered in a satisfactory time frame. Medical providers being forced to potentially turn away these types of cases reduces the patient pool significantly in California, and the revenue stream of these types of cases is generally left only for the wealthiest facilities.
Through worker’s comp financing programs offered by Med-Care Solutions, medical providers are given the ability to consider these lucrative revenue streams due to the fact that prompt and guaranteed payments are provided directly to the facility, and the debt and associated risks are absorbed by Med-Care. Through this type of alternative financing, medical facilities are open to accepting one of the largest patient pools in the United States, and without any risk whatsoever. Workers who are injured on the job benefit from the ability to secure the treatments they need without waiting until settlement and medical facilities benefit in that they receive compensation for the treatments they provided in a speedy manner, usually less than two weeks. Contact a representative for information about worker’s comp financing programs for California facilities.