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1st Choice Funding Provides Today's "Financial Bridge" With Innovative Financial Solutions
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Medical Insurance Replacement for the Uninsured in Pending Litigation
Today’s legal and economic climates present a growing number of fiscal challenges which, as a result, are exacting a heavy toll on healthcare profitability nationwide. For federally subsidized medical facilities whose patients consist of the uninsured, such patient accounts when left unpaid are a fiscal dilemma when combined with federal statutes which guarantee emergency medical care irregardless of insurance coverage or the patient’s ability to pay. It is under such governmental regulations medical providers find themselves vying for financial survival in a “no-win” situation. Recently released statistics define the impact uninsured emergency patient admissions present, and the volume of contribution such patients play in depleting fiscal resources. The facts are; there is a “significant” impact on healthcare fiscal resources when the number of uninsured emergency patients annually admitted comprises of over 50%!
When over 50% of emergency patients admitted annually have no verification of insurance at the time of admission, medical facilities are in a paradox as federal statutes which guarantee emergency treatment as medical providers after treatment is provided, must then attempt to collect the “medical receivable” from the uninsured patient. In these instances medical facilities exhaust more resources pursuing collections of unpaid accounts, which too often results in “chasing bad money with good”.
To meet the dilemma, today’s healthcare providers use as a legal option for uninsured patients in pending litigation, an instrument called the “medical lien” which has long been a traditional means of security and collection for personal injury cases. In such cases the Medical Lien or “LLOP” provides a needed legal option for medical facilities whose patients are uninsured. With the medical lien in place, a patient who for example is involved in a motor vehicle collision receives emergency medical care. When legal representation is acquired collection efforts for the uninsured patient ceases as the medical lien is filed with the attorney of record. For many providers a medical lien provides no effective solution to the financial drain ongoing medical treatments create. Thus for such providers ongoing patient treatment is not an option because such providers have been left “holding the bag” in far too many cases. Thus such medical providers decline ongoing medical care which is where the paradox begins.
In such cases, uninsured patients and their attorneys find it challenging to obtain ongoing and often critical subsequent care which is essential to the patient reaching what’s called “MMR” or maximum medical recovery. Until such is achieved, the patient’s case reaches a gridlock as ongoing patient care is not provided and the uninsured patient can not settle their legal claim and compensate the healthcare provider….And so the dilemma continues. For healthcare facilities who provide patient care under the protection of the medical lien of uninsured patients, a financial paradox is evident as the legal team whose dependant on medical care and the maximum recovery of the patient.
While a proverbial “catch 22” exists around medical liens and their use, the question arises “are medical liens providing medical providers with the results they were designed to provide?” Why should this be important to you? Because despite the astronomical costs of healthcare, medical providers must remain profitable in order to provide healthcare and patients must have healthcare. Let’s briefly examine today’s medical lien and discover the facts and how such facts affect the uninsured patient pursuing a legal claim.
The facts are, today’s medical lien provides absolutely no guarantee of financial recovery if the legal case securing the lien is unsuccessful. When in the instance a legal claim is lost medical providers face “tough business decisions” either absorb the loss or spend more resources chasing patient assets. Granted, while both options offer limited benefits i.e. a possible collection or tax deductions if no collection is achieved, neither option actually provides an effective fiscal solution. Medical providers need to keep their operations solvent and they can not do such relying on “charge off” accounts no more can the rest of us stay afloat if we don’t have positive cash flow.
Another issue regarding today’s medical lien comes into play when insurance proceeds released to the patients attorney, who’s legally bound to satisfy medical liens before releasing money to a client, instead elects not to honor the medical lien so the client has cash in hand. Here again is another dilemma for collections.
An additional challenge arises when personnel injury insurance policy limits aren’t sufficient to cover the costs of the medical care provided. Adding to the growing list is at the time of settlement, which may have involved years, are medical providers “negotiated with” to reduce the amount due. The facts show even in the best of situations many medical providers are forced to wait months, or even years, to collect a medical lien with still no guarantee of payment.
Clearly then from a finance and administrative perspective, a medical lien’s effective use is spotty at best and unreliable and unpredictable in every instance. Is there a more effective financial solution to resolving the dilemma facing uninsured patients and the medical facilities that treat them?
Amazingly the answer is a resound YES! The solution to the medical lien paradox comes from financial guru’s 1st Choice Funding, and the innovative program specifically designed to provide the most effective solution to raising capital, increasing cash flow, complying with Federal guidelines for uninsured patient services, increasing profitability and the “Gold Standard of Patient Care”. The answer comes as a “Financial Bridge”…“No Risk…No Delay…Payment Today” Medical Lien Funding
How does this program solve the financial challenges facing medical facilities today, and uninsured patient in need of ongoing medical care? Through the most innovative approach to finance, law, government and medicine ever developed, “No Risk” Medical Lien Funding provides capital for uninsured medical lien patient files in days vs. years waiting for medical lien collection, and, what’s even better is the program does so by converting medical lien patient files, which are a potential liability, into guaranteed cash practically overnight! With absolutely no financial risk to the medical providers who capitalize on this program, this may sound too good to be true, but it’s not.
With the “No Risk” Medical Lien Funding Program, instead of a medical institution absorbing risk and liability of medical lien cases, our investor capital steps in and absorbs all future financial risk. As an added benefit “No Risk” Medical Lien Funding means medical facilities can capitalize on an amazing payment stream without hassle, delay, risk, compromise of regulatory statutes, or financial recourse of any kind.
Further once the “No Risk” Program is in place, future medical lien patients benefit as they provide a ready source of additional revenue when such patient files are converted at the time services are provided and create instead of risk, positive cash flow. With “No Risk” Medical Lien Funding medical providers needs no longer to deny treatment because now uninsured patient files create positive cash flow without risk to a medical institution.
“No Risk” Medical Funding is unlike health insurance carriers and governmental agencies who take months for accounts payable to be received. 1st Choice Funding’s investor portfolio is eager to fund medical lien cases. In fact medical lien conversions can occur in days vs. months or years because there’s no bureaucratic red tape or interest earning benefits for maintaining possession of our investment monies unlike insurance companies.
The Benefits of the “No Risk” Program Are Clear:
“No Risk” Medical Lien Funding Provides a Risk-Free Cash Infusion From Existing Liens
No Risk” Medical Lien Funding Provides Increase Revenue on Services Previously Not Offered
No Risk” Medical Lien Funding Provides Payment Immediately When Services Are Rendered
No Risk” Medical Lien Funding Increase Business When Attorneys Refer Patients
No Risk” Medical Lien Funding Eliminates All Risk for Unsuccessfully Litigated Cases
No Risk” Medical Lien Funding Eliminates Lien Negotiations When Cases Are Resolved
No Risk” Medical Lien Funding Eliminate Lien Collection & Management Expense
No Risk” Medical Lien Funding Provides Positive Patient Relations
No Risk” Medical Lien Funding Provides Patients Ongoing Healthcare
No Risk” Medical Lien Funding Provides Increase Occupancy Rates & Profitability
For “No Risk” Medical Lien Funding Cases Must Meet the Following Criteria:
1. Client must be represented by an attorney in a present claim or lawsuit
2. Healthcare is a direct result of injuries sustained
3. Liability is established
What Types of Legal Cases Qualify For "No Risk" Medical Lien Funding?
Personal Injury Vehicle
Personal Injury Premises
Personal Injury Assault
Personal Injury Slip and fall
Personal Injury Malpractice
Personal Injury Product Liability
Personal Injury Negligence
Personal Injury Workers Compensation Cases
Or Any Personal Injury Case
1. "No Risk" Medical Lien Funding Provides Free Portfolio Evaluations
2. "No Risk" Medical Lien Funding Provides Capital Without Financial Risk
3. "No Risk" Medical Lien Funding Payments Are Received Within Typical Billing Periods
4. "No Risk" Medical Lien Funding Improves Cash Flow
5. "No Risk" Medical Lien Funding is Provided Without Bureaucratic Red Tape
6. "No Risk" Medical Lien Funding Is Provided When Services Are Provided
7. "No Risk" Medical Lien Funding Provides Cash Flow Without Time Consuming Forms Processing
8. "No Risk" Medical Lien Funding Eliminates Expenses in Tracking Medical Liens
9. "No Risk" Medical Lien Funding Eliminates Expenses Collecting Medical Liens
10. "No Risk" Medical Lien Funding Means No Expense Enforcing Medical Liens
11. "No Risk" Medical Lien Funding Means Absolutely No Medical Lien Write Offs
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