While meeting financial demands may be nothing new for healthcare facilities, for today’s medical providers a legal climate exists that has been called an ‘economic gauntlet. 미프진 Just keeping the lights on for some healthcare facilities is an issue facing too many healthcare providers. How does this concern affect you? Let us explore this question.
Nationwide health care bills providers deal with tough issues daily, partly such issues range from; rising in business costs, State and Federal funding cut backs, reduced corporate donations created by a hardcore economy, and Federal legislation ensuring emergency health care bills for all patients. Granted while such challenges are just a sample of the issues facing America’s medical providers, make no mistake, these issues alone are reason enough for a “fiscal keeping up with act” providers face as demands increase while capital is decreasing.
For the federally backed medical institution, each provider is interested by Federal statute to provide emergency medical treatment to any or all patients, irregardless of the patient’s capability to pay. To date; the financial impact such regulation has on medical providers has been defined by recent statistics that show over 50% of all emergency patients publicly stated annually have no proof insurance at the time of entry. So what’s the correlation? Patients who receive emergency health care bills benefit from the current legislation, as each receives medical treatment without a guarantee of financial responsible for such treatment. For medical providers the losses associated with patient care is absorbed as taxable breaks as well as offered as increased healthcare costs to insured patients. Thus insured or not this example affects people.
For the healthcare providers who are profitable, a “taxable write inches for uncollected patient accounts offers an advantage, but for medical provider whoever write offs exceed revenue, there’s a real paradox. For providers to meet financial demands while not generating sufficient capital to meet expenses, and yet expected to provide quality care, well is too much being asked? Not if you’re someone who’s standard of care falls below that guaranteed by national standards.
For the profitable medical facility write offs provide a slight advantage, but the reality is a “business as usual” approach to healthcare can not continue as at current because the fact is; a day of reckoning in beingshown to people there for us all. For medical facility operatives to keep the books balanced money must be available to meet financial demands and ingesting losses doesn’t fulfill the demands substained by wages, salaries, supplies, utilities, equipment, bank notes and stuff like that. And while you’re establishing the billions in expenses just for these categories, add to the picture the legal costs of collections for past due uninsured accounts. Now as you degrade your loan calculator, are you start to understand the economic crisis medical facilities face when treating the uninsured and finding yourself on the short end of the “financial stick”?
Granted while most You. S. consumers find themselves shedding no tears for multi-billion dollar healthcare facilities, you may find yourself feeling differently the next occasion you’re in need of emergency health care bills and none is available because, the once prosperous medical facility is closed due to the economic reasons. Something to think about wouldn’t you agree? Are there additional options compared to the standard way of working? Absolutely. Now let’s explore uninsured patients and the financial solution medical providers supply.
The “Solution”… the inches Medical Lien inches
The Medical Lien is a legal security provided to a medical provider when a patient later becomes a plaintiff in a legal case. In this situation if settlement occurs, medical providers are compensated as the attorney of record compensates the provider out of the insurance collection proceeds. However, as financially sound as a Medical Lien appears to be, in a real-world application, untold losses occur each year from the use of the Medical Lien.
While Medical Lien s are a country wide used legal tool, for the millions of patients treated annually under this create the reality are, all too often a Medical Lien leaves the providers who rely on them with the “short end of the financial stick”. Revenues the Medical Lien are created to generate instead create liability for the medical facility, and thus the results are, beyond emergency care, some medical providers decline patients or at best limit the amount of patients they accept whoever care is secured by the Medical Lien.
For the patient who becomes a plaintiff, the injured more often than not need ongoing health care bills to experience maximum medical recovery. “MMR” is the sought after goal for the attorney to experience settlement, match the Medical Lien providers, be compensated themselves and the patient-plaintiff.
As an illustrative example when an automobile accident occurs and the uninsured injured receive emergency health care bills. In such instances the patient-plaintiff needs ongoing medical treatment in order to ultimately achieve mmr which ultimately correlates to an insurance settlement. This is where for the medical provider, the patient-plaintiff, and their attorney the proverbial “catch 22” begins.
For medical providers the paradox is such must maintain positive cash flow in order to provide services. Because Medical Lien s do not provide guaranteed compensation progressively more medical providers refuse to provide ongoing health care bills under the auspices of the Medical Lien. For other medical providers who limit the services provided or the amount of patients accepted whoever file is secured by a Medical Lien, are forced to do so because of the lack of guaranteed compensation with the shear amount of time involved in achieving compensation.
For the patient-plaintiff this paradox is crucial as financial demands and “pennies on the dollar” insurance settlement offers leave the injured with no-win choices; accepting an offer for settlement before achieving mmr, or searching for medical providers who accept Medical Lien patients, which in many cases takes months for treatment and delays a possible settlement even deeper.
For the dependant law firm in these instances the paradox occurs as their compensation is detrimentally affected by the amount of settlement achieved when the patient-plaintiff will take an insurance offer without achieving mmr. Ultimately the values of the injuries sustained are not compensated for and the value of the case is not achieved.
Why then do medical providers decline or limit their care of Medical Lien patients? Let’s look in short , at what occurs for the medical provider:
Fact 1 Medical Lien s Provide No Guarantee of Payment: For medical providers Medical Lien s provide no guarantee of financial security if the pending litigation case is lost, period.
Fact 2 Medical Lien s Take Years to provide Compensation: Medical providers wait years for resolution as each has no leverage to put in force an “at fault” insurance carrier provide prompt payment for cases they need to assume liability for.
Fact 3 Medical Lien s Result in Reduced Payments: Medical providers under a Medical Lien are negotiated with to reduce the accounts payable after ingesting the costs of care while waiting years for settlement.
Fact 4 Vexatious Delays: Vexatious insurance companies control settlement revenue that allows the insurance company time to continue to earn interest on settlement payments in their wardrobe while the medical provider looses revenue to interest.
Fact 5 Medical Facilities Face Loose-Loose Business Decisions: Medical facilities are forced to make “business decisions” everyday regarding ingesting losses for unsuccessfully litigated cases or spending more resources pursuing patient assets with still no guarantee of recovery.
Thus from both a financial and management perspective the Medical Lien Letter of Protection makes “keeping the lights on quite challenging as this legal instrument has proven after decades people to not be the most effective solution for financial medical management.
Is there a more Effective Solution?
The answer is yes. A long past due financial solution has been developed as an innovative approach to financial medical management and has been recently launched by a professional financial consulting firm, 1st Choice Funding. As financial guru’s, 1st Choice Funding has an amazing financial solution for medical providers, patients-plaintiff’s and their law firm. This innovative financial solution has been appropriately called “No Risk… No Delay… Payment Today” Medical Lien Collection Funding.
As financial experts with a cutting edge solution driven philosophy, 1st Choice Funding supplies a fresh approach, an “outside the box” perspective to the medical-legal patient-plaintiff dilemma. By taking a target approach to Medical Lien s and the inherent issues they create, 1st Choice Funding supplies a “No Risk” financial system that removes 100% of the risk for medical providers which will change the way medicine views the use of Medical Lien s. How is such possible? Simply put: because 1st Choice Funding has unlimited investor resources which when utilized provide a guaranteed cash infusion to the medical provider who sells the Medical Lien collection which turns uncollected patient accounts into a guaranteed cash increase.
With “No Risk” Medical Lien Funding Medical Lien patient files are then altered from “potential risk-to-capital” in days. And with this programs inclusion, healthcare facilities are taken out of the business of law and kept in the business of healthcare. A sound financial option indeed. With “No Risk” Medical Lien Collection funding, medical facilities who use this program comply with Federal guidelines for uninsured patient services while not being left with financial consequences for doing such. The reality are for past due Medical Lien accounts, medical providers who utilize “No Risk” capital receive:
Capital Today Instead of Capital Delay
Capital Today Instead of Capital Cost
Capital Today Instead of More Capital Pay “No Risk” Medical Lien Collection Funding is just that simple. With this unique financial tool medical providers receive an unusual capability to increase patient volume and revenue without consequence. For the first time in history, healthcare is being offered the most effective “financial bridge” designed to bring Government, Finance, Law, Medicine and Patient Care together effectively and simultaneously. “No Risk” Medical Lien Collection Funding is good for medical providers, for patient-plaintiffs, and for their law firm. “No Risk” Medical Lien Collection Funding is a savvy financial solution and is a 100% winner for everyone involved.