What is an asset based loan? An asset-based business line…
Medical Lien Funding and Purchasing
What does Delancey Street do?
When compared to holding on to and managing a book of A/R’s, selling receivables provides many advantages. Our clients enjoy;
- Eliminated RISK of non-collection (write-offs)
- Immediate cash flow when selling an existing LOP portfolio
- Pedictable cash flow when assigning new A/R’s
- Opportunitiy to EXPAND their business and revenue by seeing a new class of patients formerly not considered for treatment
- A debt-free alternative to bank financing
- Greatly reduced collection costs
- Simple underwriting process resulting in proposals in as few as 72 hours!
- Funding typically with in one week.
- Working with a division of a public company committed to the highest ethical business standards.
What are the benefits to Lawyers?
- Funding Medical Procedures – for your uninsured and underinsured clients’ medical procedures. We will work with medical providers nationwide to purchase Letters of Protection (LOP’s) from medical providers/facilities you currently work with. Alternatively, we will advance funds to your client to pay for medical procedures.
- Medical Underwriting/Guidance – Our acclaimed medical underwriting team evaluates your cases for causation and medical necessity. We can point out case concerns early on when they can be effectively managed.
How does Case Funding assist plaintiffs and patients?
We will provide a presettlement cash advance that is used to pay for the medical service or will purchade the LOP form the madical provider after the procedure is completed.
We follow a simple 5-step approval and funding process:
- Case Funding receives case and medical information aProcedure Request form.
- Case Funding approves the procedure for purchase (usually within 24 hours) and the facility schedules the patient for treatment as they would for any other patient.
- The procedure is completed.
- The medical records and other related documents are forwarded to Delancey Street.
- Delancey Street sends payment for services in just 30 days.
What is a Medical Lien
A medical lien is a document that secures payment for healthcare services. It is used in personal injury cases, when the medical bills are expected to be paid by third party
insurance (i.e. the insurance policy carried by the person or organization that is responsible for the injury). A medical lien is paid for by money that is recovered when the patient’s legal case is settled, which can take anywhere from several months to several years.
Are medical appointments scheduled through Delancey Street office?
No. All appointments are scheduled through the physician or facility; Delancey Street does not schedule healthcare appointments.
What types of medical services does Delancey Street fund?
Delancey Street funds a full range of medical services, including:
- Spinal Fusion
- Spinal Injections/ Pain Management
- Laminectomy /Laminotomy
- Imaging Studies (MRI/CT)
- TBI – Traumatic Brain Injury
- Orthopedic, Neurological & Spine Surgery
- Outpatient and Inpatient Surgery Procedures
- Medical Implant Devices
- Many More
If your procedure is not listed, call Case Funding for more information
Does Delancey Street accept all medical liens?
No. Delancey Street evaluates medical liens on a case-by-case basis. At a minimum, there must be:
- An attorney handling the case
- Third party insurance available from the defendant
- evidence that the patient is not the at-fault party
What types of personal injury cases does this cover
Delancey Street works with most types of personal injury lawsuits, including:
- Motor vehicle accidents (MVAs)
- Slip and fall/Premises liability cases
- Defective product accidents
- Construction accidents
- Labor law
- And more
- Hip revision surgery
- Knee revision surgery
- TVM Trans-vaginal-mesh export
What are the upfront costs, monthly payments, and application fees for the patient
Zero. Delancey Street provides its medical lien funding service at no cost to the patient.
Does Delancey Street help patients locate medical specialists and facilities for consultations and treatments
Yes, Delancey Street can help uninsured victims with personal injury cases obtain the medical care they need.
Does Delancey Street recquire an exclusivity agreement from healthcare providers?
No. Healthcare providers can send as few or as many cases as they wish, and may work with any medical lien funding company that they wish for future cases. Of course, we’re confident that once you experience the Delancey Street difference you’ll only want to work with us!
How does working with Case Funding Inc. help healthcare providers expand their market share?
Delancey Street risk-free medical lien funding enables healthcare providers to expand into the growing market of uninsured patients who have PI lawsuits. By working with Case Funding, physicians and healthcare facilities can accept – or even seek out – patients that they may have otherwise denied or avoided, knowing they will receive a payment in just 30 days from Case Funding as the Payor.
By accepting these personal injury patients, healthcare facilities may also attract physicians that may not have worked with the facility before. In addition to bringing their PI patients, these physicians may then choose to bring other patients as well.
How do medical liens affect healthcare providers’ balance sheets and income statements?
These accounts receivables can take years to settle and collect. During that time, they stay on your balance sheet or are charged off.
What happens if the medical lien is ultimately uncollectible?
Delancey Street purchases LOP. If the lien is ultimately uncollectible, we assume the entire loss. Delancey Street only seeks payment from the adverse party’s insurance carrier; we will never attempt to collect payment from the healthcare provider.
Why do healthcare providers participate in Case Funding’s medical lien purchasing program?
This program offers many benefits to healthcare providers, including:
- Quick approvals
- Minimal paperwork
- Competitive reimbursement rates
- Non-recourse payment
- No risk
- Increased cash flow
- Reduced costs
- Eliminate charge-offs, collection costs, and bad debt expenses
- Ability to expand services
- No cost to patient