Physician Lien Financing Is A Secure Option For Your Practice
Physicians are trained to seek the best possible plan that will lead to the health and well being of the patient. Along with considering all of the options that are at the disposal of the treatment plan, choosing the one that has the least amount of associated risk is always a factor in the decisions that are made. Physicians train for lengthy periods of time in order to be given the knowledge that will allow all possibly options to be considered, and yet one of the best possible options with regards to physician financing may be unknown to you. The most interesting part of the equation is that this option also has the least amount of risk.
Physician lien financing is the concept of a third party assuming the risks of payment for treatments that are provided by a physician to a patient. There are many factors that may come into play as far as the reasons that financing is necessary, ranging from personal injury cases to workers comp issues, but at the core of it all is the need for someone to bear the risks associated with paying the bills for treatments that a physician provides. The medical provider themselves may be asked to provide the treatments without advance payments, which is unbelievably risky to the practice as there is nearly no guarantee that the settlement will be in favor of the patient. If the patient loses the case, there is no money for payment provided and almost no ability for the amounts associated with treatment to be paid. Physicians might be able to collect pennies on the dollar in this case, but will probably never be compensated to a degree with would be considered satisfactory. Another option is to have the legal firm representing the patient cover the bills that are generated by treatments for their client. Once again this is a risky option to both physicians and to the legal outfits involved because there is little chance that the associated parties will be able to collect satisfactory payments if the case is lost. The answer is to explore the options of involving a third party that specializes in the process of physician lien financing.
Through an arrangement with MedCare Solutions, physician lien financing is not only easy, but is a process that allows all the other parties to not have to become experts on the process. There are many pitfalls involved in these types of arrangements where one party drops the ball due to a lack of knowledge of the process, delaying or even eliminating the abilities of all involved to be compensated. Through MedCare Solutions, the process has been streamlined and is controlled by representatives who know exactly what is necessary. The payments for treatment are covered and are paid in a manner that eliminates physician risks. The extreme benefits of programs specialized in physician lien financing is that the elimination of collections risks for all other parties, allowing them to consider involvement in cases that they once considered too risky. The arrangements are mutually beneficial to everyone, and can be viewed as a method of expanding the case load of physicians, legal teams and other parties. We assume the risks, you get the rewards.