Reduce your practice’s administrative overhead by working with HMR
Kyle Kinberger, National Sales Manager for HMR
Many medical providers have accumulated portfolios of aging accounts receivable related to patients involved in personal injury cases. Managing these outstanding medical receivables often require significant administrative staff to consistently follow up on cases throughout the long legal process of each case in their hope for eventual payment.
Often times your staff will be placed in an awkward situation of having to have tough conversations with those personal injury attorneys who refer their clients to your medical practice about accepting a far lower payment due to an unsatisfactory legal settlement. And when the underlying legal case is lost, then you may have to pursue the patient directly for payment, and possibly need to work with a collections agency. This introduces yet another expense component and takes a level of expertise that may be expensive for your staff to also manage.
HMR is a group of professionals with many years of experience in working closely with personal injury attorneys. We may be able to purchase your entire medical accounts receivable portfolio associated with your personal injury patients, paying you a fair price, while removing both risk and administrative costs that you have experienced in the past. Simply stated your medical practice can receive needed cash flow by selling your personal injury medical receivables to HMR and we will assume all of the costs associated with the eventual collection of those invoices we have purchased from you.
Additionally, we regularly work with medical providers on a case by case basis, to review and purchase the medical bills associated with new personal injury patients. This allows the medical provider to take on third party liability patients and possibly get paid sooner – removing the worry about not getting paid at the end of the underlying legal case.
By taking advantage of the core competency of HMR, medical providers may be able to receive payment sooner for aging personal injury accounts receivable. By adopting this cash management strategy you will also reduce the inherent administrative costs associated with tracking these cases, thus increasing your bottom line. We become a valuable extension of your team, freeing your practice from the hassle of vetting, tracking and pursuing collections on your personal injury cases. This will allow you to concentrate on what you do best, caring for your patients.
Contact us now if you would rather let us handle the tracking of all of your personal injury lien cases