by Marius Ged, on Jun 2, 2020 7:35:12 PM
Personal injury protection cases (PIP) hold a wealth of opportunities for lawyers across multiple practice areas.
While processing these claims in a traditional manner can lead to numerous challenges, personal injury, administrative and healthcare lawyers should look into ways to service this sector. There is money to be made!
These claims typically just sit in databases and filing cabinets, costing medical providers tens of thousands of dollars in unpaid services.
Attorneys who process PIP claims face mountains of paperwork and potentially months of litigation, taking away precious financial resources and company time.
Instead of letting these cases go unprocessed, lawyers can take back control and turn their networks of medical provider contacts into a reliable income stream.
Understanding Florida No-Fault Auto Insurance Laws
No-fault auto insurance laws require motor vehicle owners to purchase personal injury protection (PIP). PIP coverage pays medical expenses incurred by the patient due to injuries sustained in an automobile accident. Payouts are limited to $10,000 for PIP benefits.
History has shown that insurance companies delay, deny or underpay claims to medical providers. They also have to deal with Independent Medical Examination (IME) Cut-Offs, where a doctor hired by the insurance carrier, determines the patient's injuries have been resolved.
The carrier will then issue a global denial cutting off further treatment.
If the patient is found to have symptoms after an IME still, medical providers often find themselves on the hook for covering treatments sustained in auto accidents.
How You Can Help Medical Providers and Your Law Firm
Medical providers need a system that fights for them in claiming fair payouts from insurance companies. Attorneys need a simple, reliable option for referring such cases, as PIP audits and litigation are both expensive and time-consuming.
Through years of testing and client feedback, Ged Lawyers has perfected a PIP processing system built on speed and transparency. Medical providers who use our services receive all of the benefits of the recovery.
At the same time, the insurance pays the attorney fees. Lawyers who refer to us build a reliable income stream without increasing expenses or labor hours.
Florida PIP referrals are an untapped growth opportunity for attorneys!
Let's look at why it's worth your time to partner with a PIP referral system built on speed and transparency.
1) No-Fault Insurance Laws Pay at a Higher Level
Florida's no-fault insurance laws allow reimbursements to medical providers at a higher level than third-party insurance companies or Medicare. Unfortunately, too many providers do not assert their rights to recovering benefits related to treating car accident injury victims.
2) Florida PIP Audits Reveal Underpaid Claims
Medical providers typically write-off insurance underpayments or denials, even though the insurer is liable for all costs and attorneys' fees. Why? Because it is cheaper to operate in this manner.
Hold insurance companies' hands to the fire by making them stick to the statutory requirements that lawmakers expect them to meet. Doing so will strengthen public policy while creating a revenue stream for your law firm.
There Is a Five-Year Lookback Period
Florida PIP claims are subject to a five-year lookback period, which is a significant contrast from typical personal injury claims. However, identifying where benefits are overdue as compared to the patient's EOB is a challenge.
Consider taking advantage of an automated Florida PIP processing system that allows you to collect a referral fee.
Turn Your PIP Referrals Into New Income
Avoid falling into the trap of the "first in time, first in right" trap. Let Ged Lawyers help you turn your Florida PIP claims into a steady revenue stream for your law firm with a streamlined, automated solution.
Start building a new income stream by partnering with our firm. Learn more about the process, read testimonials from other partner law firms, or contact a team representative for any additional questions.
Your firm's growth opportunity is waiting. Get started with Ged Lawyers today!
