The aftermath of any accident is stressful enough. Worrying about how to pay for medical expenses on top of an already tight budget is a whole different story. Medical facility lien funding services take this uncertainty out of the equation while you’re waiting for compensation from a personal injury claim settlement.
How Does Medical Lien Funding Work?
If you don’t pay doctor or hospital bills, the provider may file a medical lien. You can also work with a provider or facility on a medical lien basis, especially if you have inadequate health insurance. A medical-lien-based doctor can provide a medical evaluation that strengthens your claim.
A legal funding company, such as Fund Capital America, can bridge the gap between your personal injury attorney and medical provider. The provider may put a medical lien on your future award or settlement, but that doesn’t guarantee they’ll deliver care if you don’t pay the bills on time.
Medical lien funding for healthcare providers ensures hospitals and doctors get paid so you receive the necessary care. Your expected settlement will be used as collateral. In turn, the funding agency is repaid when settlement funds are acquired.
With medical lien funding for medical facilities, providers can:
- Save time collecting funds from unpaid invoices.
- Avoid hiring staff to collect unpaid invoices.
- Hire employees for core business activities.
- Invest in business growth, marketing, and advertising.
- More efficiently manage payroll.
- Have cash flow to pay vendors, suppliers, and other parties.
- Purchase more inventory, supplies, materials, and equipment.
- Cover high costs of overhead and unexpected expenses.
How Medical Facility Lien Funding Services Benefit Personal Injury Clients
A funding company can work with clients who have health insurance or approve medical lien funding for uninsured patients. The collateral for the cash advance is a future settlement. You need only have a personal injury case and an attorney to apply. Once you secure medical lien funding, you can benefit in the following ways:
Receive the Care You Need
A medical lien ensures you get the necessary care after an accident. Using medical lien funding, you can cover the cost of emergency treatment, diagnostic testing, physical therapy, prescription drugs, mental health care, and more. It can also cover expenses related to:
- Specialty Care: Medical lien funding can be used to pay a cardiologist, neurologist, anesthesiologist, podiatrist, radiologist, or sleep disorder specialist.
- Imaging: Imaging services, such as X-rays, MRIs, and CAT scans, are used to diagnose broken bones, internal injuries, or traumatic brain injuries and monitor healing.
- Surgery: Examples of surgical treatment covered include neurosurgery, cardiac surgery, orthopedic surgery, thoracic surgery, oral surgery, or plastic surgery related to injuries sustained in an accident.
During your recovery, you may also need rehabilitative care. Medical facility lien funding services can cover physical, occupational, speech, or cognitive therapy. Mental health care services for post-traumatic stress disorder, anxiety, or depression can also be covered. In addition, evaluation, diagnosis, therapies, medications, and addiction treatment can be funded for issues related to an accident.
Get Evaluated to Build Your Case
An expert medical evaluation is a crucial part of a personal injury case. The process can be costly, but medical lien funding covers the costs of testing, physical examinations, and pre-operative evaluations before surgery. Your attorney can use the results of a medical evaluation to build evidence in your case and request a higher settlement amount.
Minimal Risk
You pay nothing out of pocket for medical facility lien funding. The non-recourse cash advance, interest, and fees, are paid back out of your settlement. You’ll have to reimburse Medicaid, Medicare, or worker’s compensation insurance if it was used to cover accident-related expenses. But best of all, you won’t have to repay the funding company if you lose your case, nor will you have to cover costs that exceed the amount you get (if it’s less than expected).
Apply for Medical Lien Funding with Fund Capital America
We provide easy access to medical facility lien funding services. To apply, submit your information, schedule an appointment with a lien-based doctor or facility we find, and request funding. We’ll fully review your case information and decide on whether to approve funding and for how much. Funding can be approved in as little as 24 hours. To get started, apply now online or call 855-870-2274.
