Healthcare Facilities Face the Financial Gauntlet Using Medical Liens

Healthcare facilities in today's legal climate are faced with the gauntlet of problems which include but are not limited to; Rising operational costs, State and Federal cut backs, reduced corporate donations, and most importantly Federal laws ensuring emergency medical care for all patients. While these challenges are just the beginning of issues facing America's medical providers and hospitals alike, such obstacles must be controlled. It is then for good reason hospital administrators when polled on the fiscal challenges of their duties have most often described the "fiscal juggling act they do to survive the financial gauntlet" as "extremely difficult".

For medical providers the fact remains that for any federally funded medical institution, each is under statute to provide treatment to all emergency patients. To date the impact of such legislation reveals more than 50% of the emergency patients admitted annually have no proof of insurance at the time of admission, and while emergency treatment is provided without a guarantee of compensation to the medical facility, the same medical provider later is then to exhaust more resources in costly collection efforts. The only other recourse medical providers have is when a patient who is uninsured has a legal case such as in an auto accident, and then medical provider is protected by a Lien or Letter of Protection or "LLOP" as a security against a pending lawsuit.

Despite what may appear to be a financial solution, the LLOP though has left all too many medical facilities "on the short end of the financial stick" as revenues the medical lien is supposed to generate is instead, an unreliable instrument with very little recourse.

Briefly let's examine the facts regarding the medical lien as well as the challenges medical facilities face when using this legal option;

Fact 1: The first issue for a medical facility is the "LLOP" provides absolutely no guarantee of financial security if the pending litigation case is lost.

Fact 2: A second problem arises when medical providers who utilize the LLOP have no way of controlling insurance proceeds as many LLOP's take years to resolve.

Fact 3: Still yet another issue arises when medical providers are forced to protect collection rights by pursuing patient assets. A negative image is not what medical providers want to have as a reputation in the communities served.

Fact 4: Another issue arises when medical facilities who have significant overhead themselves, have no leverage to enforce the "at fault insurance carrier" provides prompt payment which they must assume liability for.

When the facts are encountered a medical facility must make a business decision; either absorbing the losses or spend more resources pursuing patient assets. While both options provide limited benefits neither option actually provides a real solution. Thus from both a financial and administrative perspective, the Medical Lien Letter of Protection makes "keeping the lights on quite a challenge" as the LLOP's inherent weaknesses prove this instrument is not the most effective solution to fiscal medical management.

Is There A More Effective Solution?

It appears the solution has been launched just this week by a financial consulting firm called 1st Choice Funding, whose online presence at; http://1stchoicefunding.com/medical.html provides details to the LLOP resolution. The program developed is called "No Risk...No Wait…Payment Today" Medical Lien Buyouts and it is through this approach that 1st Choice Funding takes the risk out of the LLOP process when the company utilizes investor capital to purchase an entire medical portfolio providing a medical provider with the ability to convert uncollected patient accounts into a veritable "cash cow" as an infusion of millions of dollars in guaranteed revenue is now available.

For the medical facilities who utilize the program each continues to comply with State and Federal guidelines for uninsured patient services, while it also increases its revenue stream through ongoing medical care and improved occupancy rates to those in pending litigation.

Now without a doubt for the first time in medical history have healthcare facilities been offered the most effective "Financial Bridge" for fiscal management, and unlike health insurance carriers and government agencies, whose red tape and vexatious delays cost medical providers more in resources, 1st Choice Funding is eager to provide capital to medical facilities through the LLOP buyout program.

Briefly Examine The Benefits of the LLOP Buyout Program:

o The No Risk Program Provides A Cash Infusion at the Sale of Existing Lien Portfolios

o The No Risk Program Provides Capital When Services Are Rendered For Plaintiff Care

o The No Risk Program Eliminates Future Risk of Collection

o The No Risk Program Provides Capital on Later Unsuccessfully Litigated Cases

o The No Risk Program Eliminates All LLOP Collection & Management Expenses

o The No Risk Program Provides a Positive Environment For Patient Relations

For more information log on to http://1stchoicefunding.com/medical.html