BOCA RATON, Fla.--(BUSINESS WIRE)--Banyan Finance, LLC today announced that it is expanding its national sales and marketing efforts for its popular Banyan Casualty Medical Plan, focusing on three new markets. Banyan Finance is the leader in the fast-growing Casualty Medical Plan segment, which offers physicians and other medical services providers, including MRI facilities, hospitals, and ambulatory surgery centers, an alternative reimbursement source to traditional health insurance for uninsured accident victims.
Ross E. Elgart, Banyan Finance’s CEO, said, “Medical services providers accepting Casualty Medical Plans are able to treat accident victims who lack traditional insurance coverage while eliminating the risk of lost reimbursements and significantly reducing the risk of lower reimbursements due to the uncertainty and length of personal injury litigation. This is critically important to the practice economics of many providers, who find themselves in a state of constant unpredictability with regard to reimbursement rates from government-sponsored health plans at the same time that the Affordable Care Act is creating considerable uncertainty in the medical services community as a whole.”
Elgart noted that:
- Unlike traditional insurance, companies in the Casualty Medical Plan industry do not charge the patients a cash premium.
- Unlike traditional factoring companies, Casualty Medical Plan companies share in the ultimate reimbursement received with the contracted medical services providers.
- Because of its diversified capital sources and deep industry experience, Banyan Finance is typically able to guarantee minimum reimbursements to Banyan Casualty Medical Plan participants in excess of traditional insurance reimbursements.
Banyan Finance is currently operating in 38 states. Its new expansion markets are: El Paso and Northwest Texas; Oklahoma City-Tulsa in Oklahoma; and Shreveport-Ruston and Northern Louisiana.
About Banyan Finance, LLC
Founded in 2007, Banyan Finance is the leading resource in the Casualty Medical Plan segment for physicians and other medical service providers. As an issuer of Casualty Medical Plans for the medical industry, Banyan Finance has paved the way for tens of thousands of uninsured accident victims to receive necessary medical treatment and simultaneously deliver the highest level of service and guaranteed minimum reimbursement to caregivers.
Headquartered in Boca Raton, FL, Banyan Finance currently operates in 38 states and employs its diversified capital sources to ensure unrivaled funding capacity for reimbursements under Casualty Medical Plans. All of Banyan Finance’s employees are HIPAA certified.
For more information about Banyan Finance’s services, please go to http://www.banyanfinance.com/.
