Medicare, Medicare Advantage, Medicaid, ERISA, Private Healthcare, Tricare, Veterans Affairs, and Hospitals are among the many potential lienholders in personal injury claims. Here are three reasons to work with an experienced lien resolution company before settling your next case.
#1 Prevent or shorten disbursement delays
Liens are a top cause of settlement disbursement delays. A professional lien resolution company will help identify potential liens, audit payment summaries for possible errors, and manage all correspondence with the lienholders. This streamlined approach is far more thorough than relying on the claimant to manage the process.
#2 Ensure compliance with state and federal regulations
Failure to comply with state and federal lienholder regulations can result in severe financial penalties. Compliance is easier said than done. Medicaid, for instance, has state-specific regulations. Likewise, under Medicare Secondary Payer (MSP) requirements, failure to comply and submit proper reporting can result in financial penalties and the loss of Medicare eligibility. A professional lien resolution company will coordinate all paperwork and administrative functions and maintain compliance with state and federal requirements.
#3 Potentially increase your client’s net settlement
A professional lien resolution company is skilled at negotiating the reduction or, in some cases, the full waiver of liens. The resulting reductions are often significant and can make a massive difference to your clients.
Here are some actual results from Sage’s trusted lien partner, Compass Lien Resolution:
Medicare Lien
Settlement Amount: $1,200,000
Original Lien: $315,297.09
Final Lien: $31,406.52
ERISA Lien
Settlement Amount: $6,000,000
Original Lien: $680,000
Final Lien: $100,000
VA Lien
Settlement Amount: $150,000
Original Lien: $19,325.16
Final Lien: Full Waiver
Hospital Lien
Settlement Amount: $1,555,000
Original Lien: $163,338.93
Final Lien: $45,000
For more results, visit Compass Lien Resolution’s website.
Contact Sage for Personal Injury Lien Resolution
Sage Settlement Consulting provides end-to-end settlement planning for your injured clients. Contact your Sage Consultant today to learn more about resolving liens and maximizing your clients’ settlement proceeds.