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POM Recovers over $2M for a New York County
The POM business partner highlighted in this case study is a New York county with ownership of nursing home facilities.
When POM entered into an engagement with the county, POM was charged with helping the county manage its debt as related to its ownership of nursing homes. The POM team met with the county’s administration to review the documentation that was being used for admitting patients to the nursing homes. Upon review, the POM team determined the admittance paperwork was unsatisfactory. The documentation did not provide liability for the obligor.
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The POM team spent over 25 hours developing a new admittance package that would provide for the county’s protection as a creditor. Thanks to proper documentation, creditor rights would be protected. The new admittance package would allow the county to participate in programs with third party payors and guarantors.
To date, POM is still engaged with this county - POM has been awarded a contract four times. POM has recovered in excess of $2 million for the county, with an average account balance $50,000 per case. POM exceeded client expectation by using its expertise to create an admittance package that would protect the county’s creditor rights and reduce risk.