Kamran Abdo, Founder of Med-Care Solutions
Kamran Abdo founded Med-Care Solutions to provide financing options to medical providers who were seeking more attractive options than those offered through traditional loan programs offered through banking institutions. His experience with the medical funding industry was born from personally seeing the necessity for options outside of traditional loans to be extended to medical providers, through his founding of Pacific Family Clinics in 1992. While growing the practice to the largest multi-disciplinary clinic on the West Coast, with locations in Southern California and Nevada, Abdo realized that even though there were thousands of patients being seen every month, the expenses that were incurred through providing that care sometimes outweighed the cash on hand that was necessary to pay the bills and keep the lights turned on. Even though there were more than enough patients being seen to seemingly provide adequate cash-flow, the complications arose within the collections process, and the timeframes that were sometimes seen with specific types of patients like those involved in worker’s comp cases or personal injury lawsuits. While treatments were expected immediately, payments for that treatment sometimes took months, and sometimes were not able to be collected at all. The difficulties of providing care immediately while collecting payments only when settlements were processed proved to be one of the greatest challenges to Dr. Abdo, as is the case with many medical providers. Through this realization of the necessity for alternative options that could utilize the accounts receivable as an asset, Dr. Abdo formed Med-Care Solutions.
Kamran Abdo personally oversees Med-Care Solutions even after a decade of successful business, and personally underwrites all accounts over five-thousand dollars. The growth of Med-Care Solutions over the years has been due to Abdo understanding the weaknesses within the marketplace and developing an improved method and product that will enable expansion on the part of the client through additional revenue streams. Dr. Abdo realized quickly that the access to immediate cash to cover clinic bills by using the accounts receivable is only one benefit that can be extended to providers seeking new business, and the program itself can be used as a revenue generator. Where the time and effort of collections along with the risks of default cause many medical providers to refuse to treat certain types of patients, Abdo understood that the system he had created could be used to not only consider new patients, but acquire new patients as well by being involved in a referral network. Med-Care Solutions streamlined the process through an online customer portal which manages the specifics and allows for ongoing open communication between Med-Care Solutions representatives and the providers, patients or legal representation that are involved in each case. This streamlining of communications and attention to process detail creates an ongoing network of parties who are open to participation, and thus are available to be used as a provider by attorneys who need to provide options for treatment to their clients, all the while understanding that they can rest assured that the procedures and paperwork necessary to bring the settlement process to a rapid conclusion is being handled. Dr. Kamran Abdo continually expands Med-Care Solutions to be more effective, and to provide even more potential to it’s clients with each passing month. Med-Care Solutions also has several spinoff companies providing services in other states where requirements are slightly different.
Dr. Kamran Abdo understands the medical financing industry from both the positions of being a source as well as a recipient. His team is highly trained and understands the process, and is looking forward to meeting with you today.