In the delicate field of medical financing, Dr. Kamran Abdo draws upon his vast experience in the medical field in order to create easy options for providers who are in need of options. More than twenty years ago, Dr. Abdo founded Pacific Family Clinics which went on to grow into one of the largest multi-disciplinary medical facilities on the West Coast, complete with a multi-state footprint that served thousands of patients. Through direct exposure to the trials and tribulations faced by medical providers with regards to alternative financing methods at the times when they are in need of immediate cash, as well as the considerations of alternative financing structures kept in place over time as a revenue source, Dr. Abdo realized that an entity was necessary that could work directly with medical providers in order to give them the options they were seeking outside of traditional loan setups. Med-Care Solutions and numerous other entities were created specifically to provide these sorts of programs, at the same time providing a seamless experience that takes the mystery and pitfalls out of the process and therefore frees up valuable employee resources within the facilities. "Many medical providers have only a minimal understanding of how alternative medical financing works," Abdo says. "Med-Care and its associated entities provide payments directly to the provider in a timely manner in the form of lien-based financing and accounts receivable purchases, as well as LOP and worker's comp funding."
Traditional methods of obtaining loans will generally take into account assets that the facility holds as collateral, and the loan must be paid back with interest. With alternative medical financing programs like those offered by Abdo's company, the assets of accounts receivable are purchased directly, thus providing a nearly immediate payment to the medical provider for the services that have already been performed and which are sitting on the books awaiting payment. "These accounts receivable are purchased by our company and the provider is paid for them. They do not have to repay us if they are not collected upon, or if delays in the process drag payment out for lengthy periods," Dr. Abdo states. Additional funding options allow for medical providers to enter into ongoing programs with Med-Care Solutions that secures sale of the assets immediately, and thus allows the facility to be paid in a timely manner for all approved services that it provides. This type of program allows the facilities to create a new revenue stream by taking on patients that may have been considered too risky, as in worker's comp cases or parties injured in automobile accidents by the fault of others. These types of patients need treatment immediately but cannot provide payment until the settlement of a case, and therefore are risky for providers to treat as there is a possibility of default on payment. "Med-Care Solutions absorbs the risk factor, and allows providers to treat these types of patients without fear of non-payment," Dr. Abdo states.
Kamran Abdo has created the options for medical facilities to reduce their risks and increase their revenues with the alternative medical financing programs that his companies offer. Through his experience, he learned that the offering of the options combined with an "on the ground" understanding of the relationships between parties involved in these types of transactions is paramount to creating an ongoing situation that benefits all parties involved. Med-Care Solutions can be contacted through their website or by phone to learn about the offerings.