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Instead of waiting for legal claims to settle, have you thought about selling your portfolio of open LOP liens or medical recievables to a funding company? Many professional brokers have relationships with a couple of funders, but Medpay Lien Services will market your portfolio to the major players in the industry that are always looking to buy good paper.
Medical receivable funding companies can offer a wide range of purchase rates for LOP's depending on many factors. Some of those factors have nothing to do with the performance of your practice, but instead, current market competitiveness and the financial situation of the funding company's capital sponsor. How sure are you that your practice is receiving current and best market rates for your LOP's?
Typical purchase rates are a fraction of the full-bill invoice value, so small changes in purchase rate can deliver large changes in the proceeds to the practice. The only way to ensure you get the best purchase rate on your receivables is to let funding companies compete for them regularly. The Medpay Lien Services auction marketplace does just that in a HIPAA secure, technology driven way. Use the calculator below to see what a 1% or 2% increase in purchase rate does to your bottom-line:
