If you have outside medical liens from the medical care you received after your accident, you can apply for medical lien funding to help you pay those liens without suffering financially. Medical lien funding is a sort of advance on your future settlement award. Personal injury cases can take a long time to settle, and you need money now. That’s where we come in.
Upon approval, your lawyer will repay your medical liens out of your pre-settlement funding. Once all medical liens have been satisfied and your lawyer has deducted their fees, as long as there aren’t any other claims on your settlement funds, your lawyer will transfer the rest of the money to you.
Outside Medical Liens
The hospital and doctors who treated you immediately after your accident did so without asking if you could pay the bill. That’s because the Emergency Medical Treatment & Labor Act (EMTALA), enacted by the Centers for Medicare & Medicaid Services (CMS), requires Medicare-participating hospitals to provide emergency care to anyone with an emergency medical condition. They are required by law to help you, regardless of your ability to pay.
If you are uninsured and the hospital learns you are filing a personal injury claim, they may file a medical lien on your settlement. And any insurance company is going to ask if the accident was your fault, as well as information about who else was involved and their insurance information. They may make initial payments to the healthcare providers, but they will try to recoup that money from you if they can.
If you negotiate a settlement with the other insurance company or the defendant, part of the compensatory damages is going to cover your medical costs. The insurance companies then want you to pay back the money they spent paying the initial claims. They will also file a medical lien on your personal injury settlement to get that money back.
An Overview of How Medical Lien Funding Works
Medical lien funding with High Rise Financial is a form of legal funding. You are eligible to apply if you have an active personal injury claim with a lawyer representing you. It is designed to pay for your medical expenses related to the injuries you sustained in your accident so you don’t have to suffer financially.
Upon approval, we arrange for your care and treatment within our network of doctors, surgeons, surgery centers, and hospitals. We then pay them directly. This means you don’t make any copays, deductibles, or even receive a bill!
You can relax, knowing you’ll receive the treatment you need without stressing about how you’ll afford to pay the bill. You can rest assured that the medical providers and facilities we work with are licensed, certified, and provide quality care.
The medical care you receive will not be of a lower quality because of the nature of the payment. In fact, your providers may be relieved they don’t have to jump through insurance industry hoops to perform the testing and procedures you need to recover.
Types of Care Your Medical Lien Funding Covers
It’s simple: if your injury is related to the accident in your personal injury claim, then it’s covered. We are not like those insurance companies who say you don’t need a procedure or who try to convince you to try more conservative measures first just to avoid paying out on your claim.
If one of our doctors says you need a test, treatment, or procedure, that’s all we need to hear. We trust the professionals to do their jobs properly.
Repayment of Medical Lien Funding
Repaying the medical lien funding High Rise Financial lends you is a simple process. When you win your case, your lawyer repays us out of your settlement, which includes the full amount we lent you plus our fee.
You will see in your medical lien funding agreement that we don’t charge interest, and you don’t make monthly payments—or any payments at all—until you reach a settlement. Our goal is to help you get the care you need with the least amount of stress possible.
How Repayment Works if You Lose Your Case
In the unfortunate event that you take your case to trial and lose, you do not have to repay your medical lien funding. This is the same agreement we have with our pre-settlement legal funding clients.
We base all of your funding on the collateral that is your predicted settlement. If there is no settlement or court award, we don’t collect. The only scenario where we might pursue payment would be if you were found to have committed fraud, as this would be a breach of our agreement.
How to Pay Your Medical Bills if You Lose Your Case
Contrary to medical lien funding, if you lose your case, you still have to pay your medical bills. Your lawyer may be able to help you negotiate a lower amount or perhaps a payment plan. They may even be able to get a doctor or hospital to waive payment entirely, depending on your circumstances.
A final option if you can’t agree to a payment plan or waiver is to declare bankruptcy. This will wipe out your medical bills entirely, but don’t do this without the advice of a bankruptcy lawyer. There are many legal implications upon declaring bankruptcy that can affect you far into the future.
Apply for Medical Lien Funding to Get the Care You Need
Applying for medical lien funding with High Rise Financial is free and easy. You or your lawyer can fill out the form to get started. If you need medical care related to your accident but the cost is prohibitive, medical lien funding could be a good solution.
If you have any questions about the application process or need assistance, please call our office at (866) 407-6404.