What is a medical lien?
When a patient is involved in court proceedings for a personal injury case and doesn’t have health insurance, a medical lien is sometimes put into place. This ensures that a medical provider or facility will agree to delay payment collection for a patient’s treatment until after their personal injury claim is settled.
A medical lien is a legally binding contract that ensures that you, the medical provider, will provide services to your patient now without payment, but you expect full payment when your patient receives their personal injury settlement funding. However, many doctors can’t or won’t treat these types of patients because the financial risk is too high.
One of the most glaring of disadvantages, of course, for healthcare providers is deferred payments. Your non-paying patient may be taking the place of a paying client at the time of service. If you’re a new provider who doesn’t have established cash flow, this could be a risky endeavor.
There’s also no guarantee as to when you will get paid. Depending on your patient’s case and how much of their settlement they receive, it could take years to fully collect your full compensation on some medical liens.
However, if you’re willing to take on this type of patient, there are some advantages. For instance, when working with clients without health insurance, you can bill at what’s called a “customary” rate, which normally means your rates are more reasonable than they would be if you had to bill through health insurance.
Not to mention, there is another option for taking on clients with medical liens that don’t force you to defer financial collection or to wait years to collect, it’s called medical lien financing or medical lien funding.
What is medical lien financing?
Medical lien financing is a service provided by companies like OMNI Healthcare are sometimes referred to as financial intermediaries or medical receivable firms. At OMNI, we’re able to fund large medical bills while our clients and their attorneys are battling in court for their personal injury settlement.
We have the ability to pay the primary care doctor, surgical center, hospital or other medical providers immediately at a customary rate and will take over our client’s medical or hospital liens allowing them to fully concentrate on healing.
The benefits to you, the provider, are:
What kind of medical providers do we work with?
We’re able to purchase medical liens from a wide range of medical facilities and providers who treat personal injuries patients, such as:
To learn more about the providers we work with, and our many medical provider support programs, fill out this application.
Find out how OMNI Healthcare can help you
OMNI Healthcare is happy to be able to support personal injury clients as well as medical providers. We hope to alleviate the financial pain and suffering of our clients by connecting them with caring providers.
Are you one of the types of medical providers listed above? Are you interested in receiving referrals? If so, OMNI Healthcare works with attorneys across the country who often have clients in need of a medical provider, we would love to be able to refer your services. To learn more about working with OMNI Healthcare, contact us by filling out this form or by calling us at (877) 633-2439.