Healthcare Liens – Healthcare & Law’s Proverbial Catch 22
While meeting financial demands may be nothing new for healthcare facilities, intended for today’s medical providers a legal weather exists that has been described as an ‘economic gauntlet. Just keeping the lights on for some healthcare facilities is definitely an issue facing far too many healthcare providers. How does this issue affect you? Let us explore this question.
Nationwide medical care providers deal with tough issues everyday, in part such issues range from; rising operational costs, State and Federal funding cut backs, reduced corporate donations created by a tough economy, and Federal legislation ensuring emergency medical care for all patients. Granted while such challenges are simply a sample of the issues facing Many medical providers, make no error, these issues alone are reason sufficient for a “fiscal juggling act” companies face as demands increase while capital is decreasing.
For the government subsidized medical institution, each provider is compelled by Federal statute to provide emergency medical treatment to all patients, irregardless of the patient’s ability to pay. To date; the financial impact such legislation has on medical providers has been defined by recent statistics that display over 50% of all emergency sufferers admitted annually have no proof of insurance policy at the time of admission. So what’s the particular correlation? Patients who receive crisis medical care benefit from the current legislation, because each receives medical treatment without a guarantee of financial responsible for such treatment. For medical providers the losses associated with patient care is consumed as taxable deductions as well as given to as increased healthcare costs in order to insured patients. Thus insured or not this situation affects us all.
For the healthcare providers who are profitable, a “taxable write ” for uncollected patient accounts provides an advantage, but for medical professional whose write offs exceed income, there’s a real paradox. For providers to meet fiscal demands while not generating sufficient capital to meet overhead, yet expected to provide quality care, nicely is too much being asked? Not really if you’re a patient who’s standard of care falls below that guaranteed by national standards.
For the rewarding medical facility write offs give a slight advantage, but the reality is a “business as usual” approach to healthcare can not continue as at present because the facts are; a day of reckoning in on the horizon for us all. Regarding medical facility executives to keep the particular books balanced money must be open to meet financial demands and soaking up losses doesn’t meet the demands sustained by wages, salaries, supplies, utilities, equipment, bank notes and the like. Even though you’re calculating the hundreds of millions within expenses just for these categories, increase the equation the legal costs associated with collections for unpaid uninsured balances. Now as you wear out your loan calculator, are you beginning to understand the economic crunch medical facilities face when dealing with the uninsured and ending up within the short end of the “financial stick”?
Granted while most U. S. consumers find themselves shedding no tears intended for multi-billion dollar healthcare facilities, you might find yourself feeling differently the next time you aren’t in need of emergency medical care and none is available because, the once productive medical facility is closed because of the economic reasons.
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Something to think about would not you agree? Are there other options poems the standard way of doing business? Absolutely. Right now let’s explore uninsured patients and the financial solution medical providers offer.
The “Solution”… the “Medical Lien”
The medical lien is a lawful security provided to a medical provider every time a patient later becomes a plaintiff inside a legal case. In such a situation in case settlement occurs, medical providers are compensated as the attorney of report compensates the provider out of the insurance collection proceeds. However , as economically sound as a medical lien appears to be, in a real world application, untold failures occur each year from the use of the medical lien.
While medical liens are a nationally used legal tool, for your millions of patients treated annually below this devise the facts are, sometimes a medical lien leaves the particular providers who rely on them with the “short end of the financial stick”. Revenues the medical lien are designed to produce instead create liability for the medical facility, and thus the results are, further than emergency care, some medical providers decline patients or at best limit the quantity of patients they accept whose care is secured by the medical lien.
For the patient who becomes a plaintiff, the injured more often than not need on-going medical care in order to achieve maximum medical recuperation. “MMR” is the sought after goal for the attorney in order to achieve settlement, satisfy the medical lien providers, be compensated by themselves and the patient-plaintiff.
As an illustrative instance when an auto accident occurs and the uninsured injured receive emergency medical care. In such instances the patient-plaintiff needs ongoing medical therapy in order to ultimately achieve mmr which ultimately correlates to an insurance arrangement. This is where for the medical provider, the patient-plaintiff, and their attorney the well known “catch 22” begins.
For medical providers the paradox is such must maintain positive cash flow in order to provide services. Because medical liens never provide guaranteed compensation a growing number of medical providers refuse to provide ongoing medical care under the auspices of the medical lien. For other medical providers which limit the services provided or the quantity of patients accepted whose file can be secured by a medical lien, have to do so because of the lack of guaranteed payment combined with the shear length of time involved in achieving compensation.
For the patient-plaintiff this paradoxon is critical as financial pressures and “pennies on the dollar” insurance negotiation offers leave the injured with no-win choices; accepting an offer intended for settlement before achieving mmr, or searching for medical providers who accept medical lien patients, which in numerous instances takes months to receive treatment and delays a possible settlement also farther.
For the contingent attorneys in such instances the paradox occurs as their settlement is adversely affected by the amount of arrangement achieved when the patient-plaintiff accepts a good insurance offer without achieving mmr. Ultimately the values of the accidental injuries sustained are not compensated for as well as the value of the case is not achieved.
The reason why then do medical providers drop or limit their care of medical lien patients? Let’s look briefly at what occurs for the medical provider:
Fact 1 Medical Liens Provide No Guarantee of Payment: With regard to medical providers medical liens offer no guarantee of financial protection if the pending litigation case is definitely lost, period.
Fact 2 Medical Liens Take Years to Provide Settlement: Medical providers wait years regarding resolution as each has no power to enforce an “at fault” insurance carrier provide prompt payment with regard to cases they must assume liability to get.
Fact 3 Medical Liens Lead to Reduced Payments: Medical providers within medical lien are negotiated along with to reduce the accounts payable right after absorbing the costs of care whilst waiting years for settlement.
Truth 4 Vexatious Delays: Vexatious insurance companies control settlement revenue which allows the insurance company time to continue to earn attention on settlement monies in their ownership while the medical provider looses revenue in order to interest.
Fact 5 Medical Facilities Face Loose-Loose Business Decisions: Medical facilities are forced to make “business decisions” everyday regarding absorbing losses intended for unsuccessfully litigated cases or spending more resources pursuing patient property with still no guarantee of recovery.
Thus from both economic and administrative perspective the Healthcare Lien Letter of Protection makes “keeping the lights on quite challenging as this legal instrument provides proven after decades of use to not be the most effective solution for fiscal medical management.
Is There a More Efficient Solution?
The answer is yes. An extended past due financial solution has been developed as an innovative approach to fiscal medical management and has been recently launched with a professional financial consulting firm, 1st Choice Funding. As financial guru’s, 1st Choice Funding offers an incredible fiscal solution for medical companies, patients-plaintiff’s and their attorneys. This particular innovative financial solution has been properly called “No Risk… No Delay… Payment Today” Medical Lien Portfolio Funding.
As financial experts with a cutting edge solution oriented philosophy, first Choice Funding provides a fresh approach, an “outside the box” viewpoint to the medical-legal patient-plaintiff dilemma. By taking an objective approach to medical liens and the inherent issues they create, 1st Choice Funding provides a “No Risk” financial system that removes 100% from the risk for medical providers that will change the way medicine views the usage of medical liens. How is such possible? Simply put: because 1st Choice Funding has unlimited investor resources which usually when utilized provide a guaranteed money infusion to the medical provider who sells the medical lien portfolio which usually converts uncollected patient accounts in to a guaranteed cash avalanche.
With “No Risk” Medical Lien Funding medical lien patient files are after that converted from “potential risk-to-capital” in days. And with this programs implementation, health care facilities are taken out of the business of law and kept in the business associated with healthcare. A sound financial option indeed. With “No Risk” Medical Mortgage Portfolio funding, medical facilities who also utilize this program comply with Federal suggestions for uninsured patient services whilst not being left with financial effects for doing such. The facts are usually for unpaid medical lien accounts, medical providers who utilize “No Risk” capital receive:
Capital These days Instead of Capital Delay
Capital Nowadays Instead of Capital Outlay
Capital These days Instead of More Capital Pay “No Risk” Medical Lien Portfolio Financing is just that simple. With this unique financial tool medical providers receive a good unheard of ability to increase patient quantity and revenue without consequence. For the first time in medical history, healthcare is being offered the most effective “financial bridge” designed to provide Government, Finance, Law, Medicine plus Patient Care together effectively plus simultaneously. “No Risk” Medical Lien Portfolio Funding is good for medical providers, for patient-plaintiffs, and for their attorneys. “No Risk” Medical Lien Profile Funding is a savvy financial remedy and is a 100% winner for everyone involved.
Unlike health insurance carriers or government agencies whose red tape and not ending delays cost medical provider’s more in fiscal resources awaiting compensation, 1st Choice Funding’s trader capital is eager to provide the monetary remedy without delay. For a further study of 1st Choice Funding’s “No Risk” Medical Lien Portfolio program think about these facts:
“No Risk” Healthcare Lien Funding Eliminates Financial Risk For Medical Providers
“No Risk” Medical Lien Funding Provides 100% Capital on Unsuccessfully Litigated Situations
“No Risk” Medical Lien Funding Eliminates Medical Lien Collection Expenditure
“No Risk” Medical Lien Financing Provides a Positive Environment Improving Individual Relations
“No Risk” Medical Lien Funding Provides Cash Infusion from Lien Portfolio Sale
“No Risk” Medical Lien Funding Provides Funds When Services Are Rendered
“No Risk” Medical Lien Funding offers tomorrow’s effective financial solution…. These days!
For More Information Log on to: Medical Lien Info at 1st Choice Funding [http://1stchoicefunding.com/Medical-liens.html].
Kari E. Gray is an entrepreneur who successfully has over the last 22 years launched and operated 3 corporations whose revenues collectively have generated 8 figures. Today as CEO of 1st Choice Funding located at [ http://1stchoicefunding.com] “Because money doesn’t come with instructions” Kari Electronic. Gray is committed to assisting customers find, manage and protect their own capital.