Why Unsettled PIP Cases Could Be Costing Your Law Firm Money

While it may not seem glaringly apparent at first, unsettled personal injury protection (PIP) cases could be costing your law firm money.

Whether you are shouldering the cost and labor-intensive process yourself, passing on client opportunities, or referring them without compensation, you're missing out on a lucrative revenue opportunity! 

In this post, the team at Ged Lawyers helps you understand a few of the opportunity costs associated with unsettled PIP cases and what you can do to get your law firm started in this area.

1) Ongoing Case Management Costs

Lawyers that handle personal injury cases or represent medical providers know that PIP claims are both time and labor-intensive. Not only do insurance adjusters seemingly take pleasure in issuing claim denials, but there are multiple moving parts to coordinate over long periods - from demand letters to possible litigation.

Managing all of these elements cost a significant amount of money, especially if the claim goes to litigation to challenge denials and recuperate non-economic damages. 

Rather than let the case management costs pile up, put your PIP referrals to work with an automated PIP referral processing system, like the streamlined system from Ged Lawyers.

2) Lack of New Client Generation

Standard personal injury outreach can only net so many new clients. You need a more reliable client stream - and working with medical providers can provide that opportunity. If your firm carries a reputation for settling insurance claims on unsettled PIP cases, word-of-mouth can travel quickly. Medical providers want to get these claims off of their books and keep revenue rolling in.

This situation presents an opportunity for you to create value for your clients. Your reputation for results can generate virtually endless referrals! Medical providers need a champion in their corner. You can be that reliable contact!

3) Stagnating Law Firm Profits

Medical providers have up to five years from the date of denial to receive an adjustment for benefits. A retrospective PIP audit will allow you to pursue claims within that lookback period and potentially claim a LARGE backload of money for you and your provider partner.

However, that is just one aspect of managing unsettled PIP claims.

Engaging proactively in PIP risk management by reviewing explanations of benefits (EOBs) can help determine if the insurance company "shorted" the provider. Once discovered, revenue discovery payments can begin within 60 days.

Build your revenue stream by providing solutions for medical providers to claim lost revenue. Simply hand off the contact information to an organization like Ged Lawyers and receive a referral fee. It couldn't be more simple!

Reach Out to the Ged Lawyers Today to Begin

Leverage the power of automation when it comes to PIP claims. If you want to learn more about the opportunities available from unsettled PIP cases, contact us for more information.

We've recovered millions owed for personal injury protection (PIP) cases. Our case studies and testimonials can show you how we've helped other law firms expand their revenue with a simple, transparent approach.

Your firm's growth opportunity is waiting. Let's get started. Schedule a free consultation today to begin the process.