Statutory Liens: Introduction for Hospitals

As you may know, in all states across the country, hospitals have the right to perfect a Statutory Lien to protect its future potential payment in these types of situations. A Statutory Lien is a legal action and instrument under that state's civil code permitting the recover of a hospital's reasonable costs, from a patient, when the hospital discovers the existence of a liable 3rd party. These are often called Third-Party Liability recoveries or TPL Liens.

Some of the issues associated with these TPL Liens are:

• The difficulty in determining whether the lien action is warranted
• The cost of maintaining these liens in staff time and resources
• The extreme length of time it takes for the settlement to be achieved and the provider to be paid
• The professional guidance and understanding required to meet all the legal requirements
• The difficulty of maintaining a high-level of necessary communication with the attorneys involved in the patient's underlying legal action
• The know-how to handle the almost certain requests to accept a lesser amount than the billed charges
• The risk of only collecting pennies on the dollar, or not collecting anything at all

MedFinManager's Statutory Lien Purchase Program is specifically designed to address these major issues. Our expertise in underwriting and evaluating the accounts takes the guesswork out of lien perfection. Furthermore, our prompt payment schedule enables a facility to reduce maintenance costs and rapidly move accounts off its A/R.

If you are a Director of Patient Financial Services, a Director of Patient Access, a Director of Managed Care, or a Chief Financial Officer with questions, or you are interested in obtaining further information about our valuable service, please do not hesitate to email hospital-inquiries@medfinmanager.com or call us toll free at (800) 238-5541.

Our staff is professional, knowledgeable, friendly, and focused on providing outstanding customer service.