One of the most common risks that physicians like yourself face is the potential for non-payment or lengthy settlement timeframes. These long periods are usually associated with personal injury patients and patients with a medical letter of protection (LOP) from an attorney. Insurance companies generally wait for settlement to pay for services, which is why LOP patients are considered high-risk; Many physicians will even refuse to treat them unless they can pay out of pocket for the treatments. All the while, you are to continue to pay costs associated with running your practice, including payroll, equipment, and utilities.
The payment collection process doesn’t have to be overwhelming
The pressures of the costs of services and treatments and the waiting for months or even years for payment can be overwhelming. We know this poses a challenge for many providers, which is why PROVE has developed programs specifically for you. You can now receive payments for your services within five days! We accomplish this by purchasing the LOP and medical liens while assuming all risks associated with the collection process. Even if the patient never pays, you are no longer responsible and will have already received your money. With our lien solutions, you can continue operations without interruptions and headaches involved with collecting.
The time to explore additional revenue streams is here
In addition to the obvious benefits of uninterrupted cash flow comes the ability for you to explore new revenue streams associated with patients you once hesitated to accept. Your patient load will increase significantly with the ability to treat one of the largest pools of patients seeking treatment today — personal injury patients. Studies show that the majority of people sustaining injuries that need treatment are coming through cases that involve the negligence of another party, or a car accident caused by someone else. You no longer have to choose from only patients with insurance or the ability to pay for themselves. You can feel confident in accepting new potential patients!
PROVE will even present you with a comprehensive network of physicians in your area who can accept your lien patients. The benefits of these new revenue streams can be what makes or breaks you when it comes time to pay your bills. Prompt payments from patients who were viewed as high risk can now help you grow your clinic into a powerhouse.
Unlike other funding companies that only offer you loans against your medical accounts receivable or require you to pay loans back even if you do not collect, PROVE’s medical lien financing solutions are without risk to you. Our programs purchase your accounts receivable, from the most simple LOP personal injury case to the most complex legal battles that could take years to finalize.
The benefits of working with PROVE are clear
With us, you can expect:
- To receive quick payments after delivery of treatments
- No risks to you in the collection process
- Additional cash to use as you please
- To increase revenue with new patients once seen too risky
- A comprehensive list of medical providers who accept your clients
- Referrals from our partner attorneys
We are the medical finance solution you have been looking for and the bridge to growth that your practice has been seeking.