What’s new in Villagomez Capital
LATEST NEWS
Article written by Andrew Denney at The New York Law Journal features our very own Judge Joseph A. Zayas who is on our advisory board.
Medical Factoring
“Personal injury healthcare providers are like a virtuoso orchestra languishing in brilliance, stifled by an inept conductor´s misguided wand, a discordant symphony amidst financial dissonance.”
P. Daniel Villagómez
No-Fault Factoring
New York State requires that New York registered vehicles carry $50,000.00 in Personal Injury Protection Insurance (PIP), also known as No-Fault Insurance. In the event of a Motor Vehicle Accident (MVA), regardless of fault, one’s own insurance begins covering medical treatment.
70-80%
of the entire Medical Service Provider’s (MSP) bills are ever collected.
35% -40%
of all medical bills are voluntarily paid by insurance companies in the first year, depending on the modality and insurance company.
Do you have questions? Send a message and we will help you solve your problem.
FAQ'S
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Bills are regulated by Worker’s Compensation Fee Schedules.
Arbitration or Civil Suit: The remaining 40% to 45% of the denied bills go through one of these processes to be collected. This takes about another 1-2 years from the date the MSP bills were denied. Other than for a few reasons, the insurance company will pay; some of the most common reasons are 1) the client doesn’t attend a hearing called Examination Under Oath, 2) the No-Fault policy was exhausted, etc.
1. In arbitration or suit. 2. Depending on the MSP bills can be factored from 15% to 35% of the portfolio value. 3. 10%-20% brokers’ fees and legal fees.
<span data-metadata=""><span data-buffer="">Security of Payment
The litigation law firm always signs a Letter of Protection (LOP) before Villagómez Capital releases any funding to a medical service provider. They may go by different names, but they are all liens. Similar to a mechanic’s lien on a mortgage, this LOP is a directive signed by the law firm receiving the award on behalf of their client that instructs and obligates the plaintiff’s law firm to pay Villagómez Capital when they receive remuneration from the claim.
Loan to Value (LTV)
LTV should be used discerningly in this industry, since loans are open to usury laws. Loans usually only apply to Law Firm Financing, NOT to Plaintiff Funding or Medical Factoring. We will liberally use LTV throughout this prospectus so we can describe the amount of capital being deployed based on our assessment of asset value, regardless if the instrument is a loan or not.
We can better gauge a LTV on a sliding scale by:
Age of Accident
Medical Treatment
Litigation Firm
and other Underwriting Criteria
There is more equity as the case builds value and is closer to an award.
Interest: From 0% to 24%, with or without a cap.
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