| Healthcare Facilities in today's legal climate face | | | | facilities who have significant overhead |
| the gauntlet of problems including but not limited | | | | themselves have absolutely no leverage to |
| to the following: | | | | enforce the "at fault insurance carrier" prompt |
| Rising operational costs | | | | payment for the services rendered. |
| State and Federal cut backs | | | | When any of the facts presented are |
| Federal laws ensuring emergency medical care for | | | | encountered by a medical facility, and most face |
| all patients | | | | all of such facts regularly, a medical provider must |
| Admittedly these challenges are just the beginning | | | | face tough business decisions: either absorb the |
| of issues facing America's hospitals who have all | | | | losses for treatment or spend more resources |
| too many obstacles to negotiate. It's no wonder | | | | pursuing patient assets and try to justify such |
| then hospital administrators describe the fiscal | | | | with recovery. Now while both options provide |
| juggling act they must do to survive this gauntlet | | | | limited benefits neither option actually provides a |
| of financial challenges as "extremely difficult at | | | | real solution. Thus, from both a financial and |
| best". | | | | administrative perspective the Medical Lien Letter |
| The facts are clear, Federally funded medical | | | | of Protection makes "keeping the lights on a |
| institutions are under statute to provide | | | | challenge" for a medical facility who needs |
| treatment to all emergency patients, and to date | | | | revenue. The LLOP's inherent weaknesses have |
| statistics show more than 50% of the | | | | proven over and over again this instrument is not |
| emergency patients admitted annually have no | | | | the most effective solution to fiscal medical |
| proof of insurance at the time of admission. While | | | | management. |
| emergency treatment is provided to the patient | | | | But Is There A More Effective Solution? |
| the medical provider is doing such without a | | | | It appears the answer is found with a financial |
| guarantee of compensation. The same medical | | | | consulting firm called 1st Choice Funding who's |
| provider later must then exhaust even more | | | | online presence at provides details regarding an |
| resources in costly collections of patient assets in | | | | LLOP solution that makes sense. The program is |
| hopes of achieving some type of collection | | | | called "No Risk...No Wait...Payment Today" Medical |
| success. | | | | Lien Buyout and it is through this approach that |
| For patients who have a litigation claim, i.e. an auto | | | | 1st Choice Funding takes the risk out of the LLOP |
| accident, the medical providers services are to be | | | | for the medical provider. How so? Because |
| protected by the Lien or Letter of Protection or | | | | through this innovative program the company |
| "LLOP" which is filed with the attorney of record | | | | utilizes investor capital to purchase a medical |
| and acts as security to be paid at the time of | | | | providers entire medical portfolio which then |
| settlement for unpaid medical services. | | | | positions a medical facility with the option of either |
| Despite what may appear to be a financial solution | | | | selling the entire portfolio or use sell in conjunction |
| for the medical care provider, the LLOP instead | | | | with continuing to treat LLOP cases and to then |
| leaves medical facilities "with the short end of the | | | | sell all future LLOP files as well. Implementing this |
| financial stick" as all too often the revenues the | | | | opportunity means a medical provider may now |
| LLOP are supposed to generate instead are only | | | | convert uncollected patient accounts into a |
| an unreliable instrument and not a solution. Let's | | | | veritable "cash cow" as a medical facility becomes |
| briefly examine the inherent problems with the | | | | infused with millions of dollars at the conversion of |
| LLOP and the challenges medical facilities face | | | | a medical lien portfolio into resource which is no |
| when utilizing this legal instrument: | | | | longer a potential liability but is instead a |
| Fact 1: The first issue medical facilities face when | | | | guaranteed source of revenue. |
| using the "LLOP" is the LLOP provides absolutely | | | | For medical facilities who utilize the "No Risk" |
| no guarantee of financial resolution when the | | | | program, each facility continues to comply with |
| pending litigation case is lost. | | | | State and Federal guidelines for uninsured patient |
| Fact 2: A second problem arises when medical | | | | services while at the same time increasing |
| providers who utilize the LLOP have no way of | | | | revenue through ongoing medical care for patients |
| predicting when insurance proceeds will be | | | | and increasing occupancy rates. Without a doubt |
| received for an accounts payable as some | | | | for the first time in medical history are healthcare |
| litigation cases take years to resolve. | | | | facilities now offered the most effective "Financial |
| Fact 3: Yet another issue arises when medical | | | | Bridge" to fiscal management ever developed and |
| providers are forced to protect collection rights | | | | unlike health insurance carriers and government |
| and create negative public relations when pursuing | | | | agencies, whose red tape and vexatious delays |
| patient assets. A negative image is not what | | | | cost medical providers more in financial resources |
| medical providers want to have as a reputation in | | | | than is needed, 1st Choice Funding is eager to |
| the communities they serve. | | | | provide capital to medical facilities through the |
| Fact 4: Then there's the issue that when medical | | | | LLOP buyout program. |