Medical Lien Financing 101
When you’ve been involved in an accident, the last thing you want to stress about is how you’re going to pay for your medical expenses or medication. Fortunately, MedChex is here to help. We make sure you gain access to the medical care and the financial support you need by offering medical lien financing.
What is medical lien financing?
Medical lien financing is a form of pre-settlement funding or cash advance designed to help plaintiffs pay for medical expenses related to a personal injury case. While you wait for the compensation or settlement pending the close of your lawsuit, your medical expenses will still be paid for.
How does it work?
A medical funding agency, like MedChex, will act as a liaison between you (or your attorney) and your medical provider. A hospital or healthcare provider may place a lien against a patient receiving treatment to ensure that once the proceeds of a lawsuit are paid out, they get paid first. However, placing a lien on a patient for care given doesn’t imply that the healthcare provider will continue to provide care since they aren’t being paid.
That’s where a medical lien funding agency steps in. We purchase medical liens from hospitals or healthcare providers, and then continue to pay them for a patient’s ongoing care – the pending settlement being the collateral.
Once the settlement is reached, the medical lien funding agency will be repaid.
How can medical lien financing help?
Medical lien financing is an ideal solution for patients who don’t have insurance or have insurance with extremely limited coverage. This usually means that patients must pay out of pocket for medical care. After an accident, funds of this nature may be hard to come by. Medical lien financing ensures that patients get the care they need when they need it most.
Why choose MedChex?
Wondering why you or your attorney should pick up the phone and call MedChex? Since 2005, we’ve been dedicated to helping people bridge the gap between their medical needs and their financial situation. We understand how stressful it can be dealing with the aftermath of an accident. We also understand that it can difficult to gain access to the financial support necessary for healthcare after the fact.
Count on us to work with your healthcare provider to ensure you get the healthcare you need. We’ll pay for the cost of your medical care up front and collect the cost of your treatment once your case settles.
We can provide you with:
Other medical care