Why Are Medical Professionals Struggling?
Many doctors and healthcare providers face cash flow problems when patient invoices sit unpaid, awaiting payment from personal injury plaintiffs. In these situations, medical professionals provided lifesaving medical services to plaintiffs who have filed a lawsuit that is now awaiting a legal settlement. Medical professionals in this situation are not paid until the plaintiff’s case is settled in court. This can take quite some time, and during this time the invoices are unpaid which can cause cash flow problems for healthcare providers. Payment from plaintiffs is typically contingent on a successful settlement of their case. This situation causes unpaid debt to grow for the healthcare providers who treated these patients.
The professional team at Alliance Claim Funding are specialists in providing funding solutions to help doctors, and a wide variety of healthcare providers. They can receive the cash they need now to keep their medical practices in good financial shape. The cash advance funding helps increase profitability and increases capital. This type of medical receivable funding does not involve health insurance companies or government agencies.
Funding Before Medical Services are Provided
In some cases medical and healthcare providers can receive payment prior to providing service. The underwriters at Alliance Claim Funding will evaluate the merits of the case and determine their liability in providing funding at this stage. If the case qualifies Alliance Claim Funding will pay the doctor or healthcare provider for their medical services and obtain a lien for payment on the underlying case.
Alliance Claim Funding also provides funding for existing debt by purchasing outstanding liens. This option can also provide cash flow and help take care of unpaid debt.
How Do You Qualify for Medical Receivable Funding?
There are some requirements and criteria that need to be met to qualify for Medical Receivables funding. The patient who has incurred the debt must be represented by an attorney in their lawsuit, medical services must be a result of a personal injury in the legal lawsuit, and all liens and services must be acknowledged by the plaintiff’s attorney. Once these requirements are met and the case is reviewed and approved funding is quick to follow.
Medical Receivable Funding Offers Benefits to Healthcare Providers
Independent funding with Medical Lien Subsidies provides the cash necessary to prevent ongoing financial issues due to uncollected medical liens. This can help doctors and healthcare providers keep the focus on providing the best services to their patients and not struggle with financial worries.