Treating patients with personal injury cases can be rewarding, but it requires specific knowledge and processes compared to traditional healthcare. This guide explores key considerations for medical providers who want to integrate and manage personal injury cases effectively in their practice.
Here are a few questions to answer before accepting personal injury medical lien patients.
6 Key Questions for Medical Providers Who Want to Accept Personal Injury Medical Lien Patients
1. How Does Personal Injury Care Work?
Several parties play crucial roles in personal injury cases. Patients are represented by attorneys and seek compensation for injuries sustained due to someone else’s negligence.
Medical providers treat injured PI patients and create detailed medical records that record the extent of the injuries and what is involved in the treatment. They may accept a medical lien in lieu of immediate payment, or a financial intermediary may provide medical funding.
Medical liens, also known as letters of protection, are legal documents filed by medical providers to secure their right to payment from an eventual settlement or judgment. Companies that offer medical funding services receive the medical lien and pay the medical provider right away, which relieves both the patient and the medical provider of a lot of stress.
A thorough understanding of these roles and how they interact is essential for medical providers to navigate the legal and financial complexities of personal injury cases. Always make sure that the patient’s attorney, and not just the patient, sign your medical lien. Only sign it once both have signed, and then send signed copies to both the attorney and the patient. Get post office receipts or fax confirmation when you send out the signed copy for your records, and keep a log with the dates and times of all conversations with the patient.
2. How Do I Write Medical Treatment Documentation Knowing That My Notes May Be Used In Court?
Your medical notes should be clear, concise, and objective. They may be used in court, so maintain meticulous records that accurately reflect a patient’s injury, treatment plan, and prognosis.
It goes without saying that these notes must be written with the utmost integrity. In addition, attorneys need professional medical documentation that accurately illustrates the injuries and is easily understood by a non-medical audience. Consider using standardized terminology for legal clarity.
3. How Can I Market Myself for Personal Injury Care Cases?
Network with attorneys specializing in personal injury to establish referral opportunities. Highlight your experience treating personal injury cases and your commitment to providing high-quality, well-documented care. Attorney referrals for personal injury cases will bring many more patients.
4. How Do I Evaluate If a Personal Injury Case Has Merit?
Before accepting a case, it’s important to evaluate a personal injury case and its potential. Key factors include insurance coverage limits, pre-existing conditions, number of parties involved, and liability determination. Analyzing these factors helps you prioritize cases and manage your workload.
5. How Will I Handle Depositions?
It’s safe to assume that the opposing insurance council will eventually depose the medical providers, including you. Depositions involve answering questions under oath; understanding the process and preparing beforehand ensures clear and confident communication.
Your answers can have a direct impact on the case outcome. Before accepting personal injury cases, you need to be comfortable with the idea of being deposed and questioned.
6. Am I Able to Accept The Unique Payment Structure?
Personal injury settlements can take time, impacting your practice’s cash flow. On average, they take between one to two years to settle. It is critical that you put a plan in place to address these issues within your practice.
The most common way to address cashflow problems from personal injury cases is to consider selling your medical liens (converting future settlement funds into immediate cash) to manage these situations.
If you’re considering funding any of your medical liens, call Gain to discuss how you can enjoy Gain’s Healthcare Revenue Cycle Management Services today. We’ll help you manage your personal injury case medical liens in your medical practice, improve cash flow, and streamline your communications with personal injury attorneys.
