Vrde Group was formed in July 2021 to serve the greater Atlanta, Georgia area. The medical receivables company seeks to provide a highly effective conduit for swift, top-quality medical care when it matters most. Vrde leverages deep relationships and regional knowledge to go beyond simply intermediating and facilitating medical financing.
For patients, Vrde operates as a network coordinator, ensuring that patients receive the best treatment possible, when they need it most. They partner with top lawyers to refer personal injury cases to the best local medical service providers, and provide medical providers with important cash flow. Providers and lawyers grow their networks and businesses while personal injury patients get the care they need.
Enabling timely medical care
The personal injury market in the United States has an astounding annual valuation of $35-40 billion, driven by a stark reality: each year, a staggering 2.3 million injuries and 37,000 fatalities stem from automobile accidents alone.
Medical system inefficiencies and protracted insurance due diligence often cause burdensome delays for victims, leaving many struggling to afford care during protracted legal proceedings. Medical providers also face cash flow problems given the size of the account receivable accounts created by medical bills, the resources needed to provide appropriate care, and the potential for late payments.
Vrde provides medical receivables and orchestrates the acquisition and divestiture of claims originating from personal injury litigation, providing relief to both victims and providers.
How personal injury receivables work
When patients lack essential healthcare coverage, they often establish a lien (or agreement to pay) with a medical service provider. Signed by the patient and attorney, the lien functions as a guarantee that the medical services they require will be paid from the compensation award through their personal injury case. These cases often span months and potentially years, so medical providers may seek an upfront payment from a receivables company to facilitate treatment at a discounted rate.
Expedited, up front payments help the provider continue to provide treatment to patients. Should the case settle, the receivables company profits by receiving the difference between the contracted amount and the final payment made by the victim’s attorney.
Built on a strong foundation
Vrde has built a repeatable underwriting approach and an extensive network of potential accounts with surgical centers, MRI facilities, pain management clinics and pharmacies in the region. Vrde has also formed partnerships with skilled attorneys to ensure a consistent stream of clients and a high degree of accuracy in assessing probability that asked-for compensation will be received.
Vrde targets expansion with Percent
Percent is pleased to partner with Vrde and its underwriter, Celeres Capital Advisors, to help fund Vrde’s growth with short-term notes securitized by the initial steps in the personal injury care process: specifically, MRI and pain management services.
With Vrde, Percent investors gain access to the medical receivables business, another segment that is largely uncorrelated to traditional markets. At the same time, Percent allows Vrde and Celeres Capital Advisors to tap into a fresh investor pool as it seeks to build a bridge for an industry in need of innovative solutions.