When we purchase medical receivables from healthcare providers, this is where our primary servicing process begins.
A workflow—or, the set of tasks, resources, processes and systems needed to complete a service or accomplish a goal—is important to have in place for any business. But in legal and medical funding, it’s vital.
From intake to underwriting, to uploading documents and generating the acknowledgement of purchase and the notice of liens, to case updates, additional treatment, settlement and collections, there are critical—and careful—steps that must be taken along the way to successfully service a medical lien.
Medical and legal funding, and how cases are processed from intake to underwriting and case management, needed follow up care, case updates, settlement and collections can have profound ramifications if they’re not meticulously documented.
At Cherokee Funding, we are truly the anomaly when it comes to our funding practices. Instead of funding or purchasing liens and becoming a collections company (as many of our competitors are), we offer a full array of legal and medical funding solutions to provide needed funds and medical care. We also understand case valuations and carefully assess the probability of the plaintiff receiving funds, the attorney being paid, and medical bills being reimbursed, and share this critical insight with those who work with us. Our high degree of customer service and systems enable the large-scale servicing of medical liens and also allow attorneys to focus on maximizing case values while knowing their clients’ liens are being held and serviced by a company that can approve additional funding as needed. During litigation, attorneys have one source for bills and notes, and at settlement they have one source to consolidate payoff information. This saves significant time and money. One source of underwriting also gives cases a higher probability of not being overfunded, thus leaving all parties satisfied.
An Empowered Process
Our process is steeped in expert resources and sophisticated systems, including intake specialists, underwriters, case managers, risk managers, and medical billing specialists, to name a few. All of whom have very specific functions to fulfill within a highly-defined workflow.
Case managers, for instance, are responsible for coordinating the care of injured clients across a large array of healthcare professionals. They coordinate resources and create flexible, convenient and cost-effective options for injured individuals on a case-by-case basis to facilitate quality, individualized treatment. They also establish goals, and help patients get the care they need by assisting with scheduling appointments and communicating patient progress. These resources can explain medical conditions and treatment plans to the patient, family members and their attorneys. They’re reliable experts with incredibly relevant experience, and they usually end up being one of the closest confidants to plaintiffs during litigation and throughout treatment.
The one key denominator, as far as job functionality goes, across all of our team is this: we all share in the responsibility to improve day-to-day operations and services to ensure a best-in-class experience for what is easily one of the most difficult times for our clients—plaintiffs involved in personal injury lawsuits.
Two recent Cherokee Funding reviews by our employees said this about our investment in technology:
“Advice to management: continue to invest in your technology platform. It is the best in the industry and [it] gives us a significant competitive advantage every day.” – Underwriter
“[Cherokee Funding has continued] making significant investments in systems to help make everyone’s live[s] better.” – Anonymous Employee
Before legal and medical funding, plaintiffs involved in personal injury lawsuits had nowhere to turn for financial relief while they waited for their cases to settle. If they did not have enough in savings, family members to turn to or personal credit cards, they were simply out of luck. Some cases even take years to settle, meanwhile medical expenses, lost wages, and daily living expenses continue to mount.
Providing a solution—a means to an end—for plaintiffs, while being a strong partner to law firms and medical practices was how Cherokee Funding got its start. To continue to be the best resource to all parties involved, we invest, and reinvest, in our process, technology and people. It’s not cheap, in fact it’s the biggest investment we make year-over-year, but it’s paying off in dividends for the people we help every day.
Because of our continuous investment, proudly:
We Are the Highest Rated Funding Company
Now there are options when it comes to choosing a funding company, and we make it a priority to provide the best service and offer the lowest fees—because we firmly believe in the importance of giving personal injury plaintiffs financial breathing room. We also make sure to listen to their changing needs—which is why we started offering Same Day Cash Advances™.
We Have the Best Reputation in the Industry
Cherokee Funding’s reputation is unsurpassed for being 100 percent transparent. We are a proud member of the American Legal Finance Association (ALFA), Americans for Responsible Consumer Funding (APA) and a founding member of Americans for Patient Access (APA), which set the gold standards in legal and medical funding and assure that patients have access to needed medical care. We are also an active sponsor of the Georgia Trial Lawyers Association (GTLA) and numerous other state associations including FJA, SCAJ, STLA, AAJ, TTLA and more. Creating meaningful partnerships and joining organizations on their missions to regulate and better service medical and legal clients is a top priority for us.
Our industry is not static, and neither are we.
To stay up-to-date on what we’re working on, please be sure to check out our blog.