Third-party liability (TPL) programs are your most powerful tools for recovering costs for services rendered to patients injured due to the negligence of others. At Lien On Me, we specialize in managing TPL programs, ensuring that hospitals and medical practices maximize their revenue recovery while handling the complexities of third-party claims.
Recoup payment from
the liable parties
Third-party liability (TPL) programs are tools to ensure healthcare providers receive payment for services rendered to accident victims. These programs allow providers to seek reimbursement from the responsible party’s insurance company instead of relying on the patient’s ability to pay. TPL programs leverage legal tools like hospital liens to secure payment from settlements or judgments in personal injury cases. By implementing TPL programs, medical providers can protect their financial interests, maintain revenue flow, and ensure they are compensated fairly for the care they provide.
Why third-party liability (TPL) programs are important:
- Increased Revenue: TPL programs provide a mechanism for recovering costs from third parties, significantly boosting the revenue for hospitals and emergency physicians.
- Financial Stability: By securing payments for services rendered to accident victims, TPL programs help maintain financial stability, enabling continued investment in facilities.
- Equitable Compensation: Hospitals and emergency physicians receive fair compensation for their services, reflecting the true value of the medical care provided.
- Reduced Bad Debt: Effective TPL programs decrease the amount of unpaid bills and bad debt, improving the overall financial health of the healthcare provider.
- Enhanced Cash Flow: Timely recovery of payments from third-party claims improves cash flow, ensuring that funds are available for day-to-day operations and urgent expenses.
- Resource Allocation: By recovering costs from third parties, hospitals can allocate more resources to patient care and essential services, improving overall healthcare delivery.
- Operational Efficiency: Streamlined TPL processes reduce administrative burdens and enhance the efficiency of billing and collections operations.
Let’s address some assumptions about TPLs
Overview
Some hospital systems fear criticism for filing liens and worry about patient complaints or potential lawsuits. Smaller providers are often hesitant about paying contingency fees, believing they will eventually get paid by pursuing claims on their own. They also fear upsetting lawyers who refer many patients but fail to ensure payments for their services. So, let’s untangle and finally debunk some of these fears and assumptions.
Blame the craftsman, not the tool
A hospital lien is a tool akin to a sledgehammer, and when used deftly, a good TPL program can generate substantial revenue—up to $20-30 million per year from accounts that might otherwise yield less than $100,000. Many bad experiences with hospital lien collections stem from using the wrong collectors. But it’s not the tool that’s at fault; it’s the craftsman wielding it.
70% of millions is a lot more than 100% of nothing
A well-executed TPL program can generate substantial revenue, often turning accounts that would yield less than $100,000 into multi-million-dollar recoveries. Paying a contingency fee means sharing a portion of the collected amount, but it also means accessing the resources to secure these funds. Ultimately, 70% of millions is far more valuable than 100% of nothing.
Good lawyers don't begrudge someone for protecting their interests
Many hospital systems, particularly small providers, fear upsetting lawyers who refer many patients, even though most of them don’t end up paying. But good lawyers, the kind that you want to work with, don’t begrudge someone for protecting their interests. And most generally appreciate that medical providers need to get paid if they are going to stay in business.
FEAR OF CRITICISM FOR FILING LIENS
Some hospital systems worry about a backlash from filing liens. Let us be clear: securing payment through liens is your legal right. A well-executed TPL program not only protects your financial interests but also ensures you can continue providing high-quality care. Patient complaints are often exaggerated; most people understand that hospitals need to be paid to keep their doors open. We are adept at handling the process adroitly, ensuring transparency and ongoing communication to minimize misunderstandings, quell patient fears, and maintain trust with the other stakeholders.
Our approach to third-party liability programs
At Lien On Me, we understand that a well-executed TPL program can be worth millions annually and transform accounts that might otherwise yield minimal returns. We believe TLP programs are a marathon and not a sprint. This allows us to build strong relationships with key players in the personal injury field and achieve sustained success for our clients. Our approach to third-party liability programs includes:
- Thorough Case Evaluation: We conduct detailed evaluations of potential TPL cases to determine liability and the likelihood of successful recovery. This helps identify the most promising claims and allocate resources effectively.
- Expert Claim Filing and Management: We handle all aspects of claim filing, ensuring that all necessary documentation is included and accurately presented. Our team follows up on claims, tracks their progress, and addresses any issues that arise.
- Strategic Negotiation: Our skilled negotiators work with insurance companies and legal representatives to secure fair settlements. We leverage our deep understanding of medical collections and liability law to achieve the best possible outcomes.
- Efficient Payment Collection: Once a settlement is reached, we ensure prompt and accurate payment collection. Our team manages the allocation of funds to ensure that healthcare providers receive the full amount they are entitled to.
- Legal Support and Advocacy: We provide legal support and representation to secure fair compensation in cases where claims are contested or legal action is necessary.
Get paid quickly and
without hassle
Third-party liability programs are essential for healthcare providers seeking to recover costs for services rendered to patients injured due to the negligence of others. At Lien On Me, we specialize in creating, implementing, and managing TPL programs to maximize revenue recovery. With our comprehensive approach and proven results, we help healthcare providers achieve financial stability and continue delivering high-quality care to their communities. With Lien On Me, you have a dedicated partner to ensure you get paid quickly and without hassle.
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