One of the greatest risks that you probably face as a physician is the accepting of personal injury cases for treatment, even if they come with a “Letter Of Protection” or “LOP” from an attorney representing them. In cases of lien-based accounts, most physicians share your hesitation or outward refusal to provide services to patients due to the fact that collection of your fees is uncertain at best, and will possibly drag out months or even years before a settlement provides you with payment. Worker’s Comp and automobile accident cases are the biggest sources of medical lien-based treatment requests, and the fact that these types of cases are notoriously slow moving and disputed by involved insurance companies creates definite uncertainty in medical offices nationwide. Do you refuse to treat these types of cases due to the problems involving collection, or do you risk the potential outcome of bad debt and accounts receivable that stay on your books forever? Med-Care Solutions has the physician financing options that can allow you to move forward with these types of cases without the stresses of wondering if you will ever collect.
Our physician financing programs insure that you can meet your ongoing payroll and expenses by providing you with prompt payment on PI and medical liens within fifteen days of filing. Additionally, we reduce the need for involving collection agencies and partial payments that are collected through their use due to the fact that we assume the risks of collection ourselves.
The negotiation with hospitals and surgery centers in your area regarding treatments of medical-lien patients under your care can be quite complicated and frustrated for even the most experienced staff, and dealing with the complex nature of the legal system and required paperwork involved in protecting yourself from assuming too much risk while still providing treatments is a difficult process. Med-Care Solutions staff are specialized in these areas, allowing you to utilize our programs in order to open up new revenue streams for your practice that you previously could not consider simply due to the time involved in paperwork for your staff. In order to pay the bills that come with running a successful medical practice, a physician must continually explore and open themselves up to potential new sources of revenue and patients of all kinds. Because you have had to shut off one of the largest sources of patients seeking treatment (medical lien patients) you have effectively reduced your patient base only to those who can afford to pay immediately or are appropriately insured, that base being significantly smaller than the larger population of patients who were hurt by someone else and are simply not able to pay out of pocket because eventually another party will be forced to cover the bills. By assuming the risks associated with these types of patients, you may increase your patient load but can also put yourself out of business if these cases are not underwritten, followed up and collected properly. This would require a great deal of great deal of resources expertise and balance which most physicians that has been acceptin LOPs mor medical liens struggle with day in and day out. Med-Care Solutions is the physician financing option that allows you to grow your practice without risk, and without limits.