tag:blogger.com,1999:blog-23809606.post1423178449621039841..comments2023-09-26T07:06:17.361-04:00Comments on It's No-Fault of NY: LMK UpdateDamin J. Toell, Esq.http://www.blogger.com/profile/09477061491768406236noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-23809606.post-76225297297119080432011-01-31T18:58:41.021-05:002011-01-31T18:58:41.021-05:00It is always advised that you submit your bills ri...It is always advised that you submit your bills right away. Though each state is different, there, they all have timeliness to claim reimbursement.francishttp://nofaultinsuranceguide.comnoreply@blogger.comtag:blogger.com,1999:blog-23809606.post-50642330457428926522009-02-20T04:36:00.000-05:002009-02-20T04:36:00.000-05:00What about the providers' real perspective on this...What about the providers' real perspective on this?<BR/><BR/>Most attorneys collect fees from the settlement/suit amount (and sometimes higher fees for interest collected). Furthermore, a high percentage of claims are settled for less than the full amount (statutory fees are indexed to the settlement amount).<BR/><BR/>Typically, providers end up with 60-80% of their claims 1 to 3 years after they initiate the suit. "Holding onto unpaid bills before filing suit" is not really limiting to providers; it's the fact that they receive less than what they are entitled to years after when they are entitled to it.<BR/><BR/>On the other hand, the point that Damin referenced is just another red herring (by the carriers). The outcome of LMK, has no effect on statutory fees defined in the regs. (That attempt will come in the future legislative revisions of the regs)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-23809606.post-1167701506471638792009-02-16T10:58:00.000-05:002009-02-16T10:58:00.000-05:00It's that providers would have to hold onto the bi...It's that providers would have to hold onto the bills before submitting them, but rather hold onto all unpaid bills before filing suit. This would be the only way to ensure that the attorney's fees are not exhausted such that a provider would be stuck looking for an attorney that would be willing to sue without the guarantee of statutory attorney's fees.Damin J. Toell, Esq.https://www.blogger.com/profile/09477061491768406236noreply@blogger.comtag:blogger.com,1999:blog-23809606.post-66497685976052273852009-02-14T11:40:00.000-05:002009-02-14T11:40:00.000-05:00Even if a provider waited until the end of treatme...Even if a provider waited until the end of treatment to submit all his bills, according to the Krinick/State Farm/Ins Dept argument, there would only be one $850.00 attorney fee available. So holding onto the bills rather than submitting them in a timely matter (per the regs) wouldn't make a difference as far as attorney fees are concerned.Anonymousnoreply@blogger.com