HANOVER PARK, Ill., Dec. 9, 2015 /PRNewswire/ -- On Dec 03, 2015, the U.S. Bankruptcy Court for the Northern District of Texas approved an application to employ Dr. Jin Zhou d/b/a ERISAclaim.com ("Dr. Zhou") as Special Collection Agent for debtors filed by Victory Parent Company, LLC in the wake of the hospital group's Chapter 11 bankruptcy filings on June 12, 2015 (Victory Medical Center Mid-Cities, LP et. al., Chapter 11, Case No. 15-42373-Rfn-11). The Court ordered that "Dr. Jin Zhou d/b/a ERISAclaim.com be employed as Special Collection Agent to provide all necessary collection services to the Debtor as described in the Application pursuant to 11 U.S.C. §§ 327(a) and 328(a)."
"The court order granting an ERISA Special Collection Agent for the Bankrupt Hospitals is an unprecedented decision that will have a profound impact for all Bankrupt Hospitals and the entire hospital industry, as the federal law ERISA is the key governing law for all healthcare claims to all employer sponsored plans in the private industry," says Dr. Jin Zhou, president of ERISAclaim.com, a national expert on ERISA compliance and appeals.
"PPACA, aka Obamacare, adopted ERISA in its entirety Since Sept 2010 as the governing federal laws, for internal appeals for all group plans and individual policies, or ACA exchange market, for both ERISA and non-ERISA claims," added Dr. Zhou.
"As ordered by the Court, we will start immediately next week our ERISA Claim Specialist training class at Victory Parent Company and appeal all denied and delayed claims strictly in accordance with ERISA and PPACA, and pursue judicial reviews in the federal court to advocate for our patient ERISA and PPACA rights, rather than inevitably drive our patients into personal bankruptcies as our only collection remedies," says Robert N. Helms, Jr., Chairman, CEO and Manager of Victory, who managed six for-profit Victory Healthcare medical and surgical centers in Texas before the filing for Chapter 11.
On June 12, 2015, Victory Parent Company, LLC and four Texas medical centers voluntarily filed under Chapter 11 to preserve value, effect asset sales, according to the Victory Parent Company web site.
"We had built an extremely high quality, state-of-the-art group of community-centric medical centers and hospitals. Unfortunately, as out-of-network providers, we came under attack by large insurance carriers. Even though we were able to execute in-network agreements with three large insurers, the extreme slowness and lack of payment from the carriers constrained liquidity significantly," explained by Mr. Helms for Chapter 11 filing.
According to the hospital industry reports published on Sep 15, 2015, Becker's Hospital Review, "10 hospital bankruptcies so far in 2015". http://www.beckershospitalreview.com/finance/10-hospital-bankruptcies-so-far-in-2015-september15.html
Hospital bankruptcy filings are headline news every day, mainly due to alleged denied claims and failed claims reimbursement, noted by Dr. Zhou.
In Re: Victory Medical Center Mid-Cities, LP et. al., "The Debtors in these cases, along with the last four digits of their respective taxpayer ID numbers, are Victory Medical Center Mid-Cities, LP (2023) and Victory Medical Center Mid-Cities GP, LLC (4580), Victory Medical Center Plano, LP (4334), Victory Medical Center Plano GP, LLC (3670), Victory Medical Center Craig Ranch, LP (9340), Victory Medical Center Craig Ranch GP, LLC (2223), Victory Medical Center Landmark, LP (9689), Victory Medical Center Landmark GP, LLC (9597), Victory Parent Company, LLC (3191), Victory Medical Center Southcross, LP (8427), and Victory Medical Center Southcross GP, LLC (3460)." according to the Court document.
According to the court document published today, the Court ORDERED THAT:
"1. Dr. Jin Zhou d/b/a ERISAclaim.com be employed as Special Collection Agent to provide all necessary collection services to the Debtor as described in the Application pursuant to 11 U.S.C. §§ 327(a) and 328(a);
2. Dr. Zhou is employed, effective November 3, 2015, as Special Collection Agent to provide all necessary collection services to the Movant in this case as set forth in the Application.
3. Dr. Zhou shall be entitled to compensation as set forth in the Application and in the Claims Recovery Service Agreement attached hereto as Exhibit A without further application or order of this Court."
The compliant ERISA and PPACA appeals and litigation are the only way to protect a hospital or healthcare provider from filing bankruptcies, explained Dr. Zhou.
To find out more about PPACA Claims and Appeals Compliance Services from ERISAclaim.com:
Located in a Chicago suburb in Illinois, for over 15 years, ERISAclaim.com is the only ERISA & PPACA consulting, publishing and website resource for healthcare providers in the country. ERISAclaim.com offers free webinars, basic and advanced educational seminars and on-site claims specialist certification programs for doctors, hospitals and commercial companies, as well as numerous pending national ERISA class action litigation support. Dr. Jin Zhou is regarded as the industry "Godfather of ERISA claims" for healthcare providers.
For any questions, please contact Dr. Jin Zhou, president of ERISAclaim.com, at 630-808-7237.