There is an excessive amount of traffic coming from your Region.


Posted in Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off

How New Jersey Health Care Fraud Law Works Against Medical Practitioners

Q. Are Health Care Fraud Crimes prosecuted in New Jersey as regular theft crimes?They may be, New Jersey law now has a set of statutes specifically aimed at health care claims fraud. The idea is that these crimes have a broader scope and carry much more severe penalties than regular theft crimes. Also, the threshold of prove is significantly lower, so prosecutors have much easier time proving their cases. As of now, New Jersey health care fraud is a crime in the second degree that carries up to 10 years imprisonment along with hefty fines. In addition, of course, one may be charged and indicted with any other fraud and theft offense besides the health care fraud charge.Q. Who is the “medical care practitioner” that may be charged with New Jersey health care fraud?According to N.J.S.A. 2C:21-4.2, “practitioner” is anyone licensed in New Jersey or any other jurisdiction to practice medicine and surgery, chiropractic, podiatry, dentistry, optometry, psychology, pharmacy, nursing, physical therapy, or law; and any other person licensed, registered or certified by any State agency to practice a profession or occupation in the State of New Jersey.Q. What exactly is “health care fraud” in New Jersey?N.J.S.A. 2C:21-4.2. defines “health care claims fraud” as making, or causing to be made, a false, fictitious, fraudulent, or misleading statement of material fact in, or omitting a material fact from, or causing a material fact to be omitted from, any record, bill, claim or other document, in writing, electronically or in any other form, that a person attempts to submit, submits, causes to be submitted, or attempts to cause to be submitted for payment or reimbursement for health care services.Q. May New Jersey Health Care Fraud be Inferred?Yes. As a matter of fact, the statute entitles court to infer in certain cases that medical practitioner committed fraud. That normally has to do with making false statements or submitting fraudulent claims. Signing a fraudulent bill or claim alone may serve a proof.Q. Does it Matter How Much Money is Stolen?It doesn’t matter. No matter what the amount of the claim or benefit is, unless when it is de minimis, New Jersey health care fraud is a second degree crime.Q. What Should the State prove to obtain conviction?To convict a defendant in a New Jersey health care fraud case, prosecutors must prove:
1. That the defendant was a practitioner;2. That the defendant made false, fraudulent, or misleading statement of material fact in, or omitted a material fact from any record, bill, claim or other document, in writing, electronically or in any other from;3. That the defendant attempted to submit, submitted, caused to be submitted, or attempted to cause to be submitted the record, bill or claim for payment or reimbursement for health care services;4. That the defendant acted knowingly.Q. What are financial consequences of a conviction on a defendant?If convicted, the practitioner may be ordered to pay a fine of up to five times the financial benefit obtained or sought to be obtained. That, of course, doesn’t count prison time.Q. What if the practitioner committed Health Care Claims Fraud without knowledge?According to N.J.S.A. 2C:21-4.3(b), if the practitioner recklessly commits the health care crime without actual knowledge, he or may be guilty of a third-degree crime. The question is what is considered “recklessly”. The statute defines that as “conscious disregard of a substantial and unjustifiable risk that the material element exists or will result from his or her conduct.” The state must prove that the risk was such a that the practitioner’s disregard of it was a gross deviation from the standard of conduct that a reasonable person would observe in the defendant’s situation.

Posted in health care | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off

How A Commercial Mortgage Can Help You In Negations With Sellers

When sellers evaluate purchase offers for their commercial real estate, one thing they consider carefully is the buyer’s financing. An offer from a financially strong buyer might get preference over a higher offer from a marginal buyer. A great sale price is meaningless if the buyer can’t close. And the value of any offer diminishes as time ticks buy while the buyer gets the loan underwritten.A conventional loan from a bank or other institutional lender will take 90 days or more to underwrite and close. Sellers of commercial real estate like apartment buildings, offices and retail outlets know this and they don’t’ like it. Once they decide to sell, and accept an offer they resent every mortgage, utility and maintenance payment they have to make and they constantly worry that something will go wrong and derail the deal. Sellers want to close quickly. Anything you can do to speed up the process will strengthen your position at the negotiations table.Private Lenders can Close Fast – This Gives Borrowers LeverageOne strategy that savvy real estate investors use when bargaining with sellers over price and terms is offering a 3 week close in exchange for some concessions. Sophisticated real estate pros know that the competition is probably offering a 45 day due diligence period plus 60 days to find a loan and close the deal. That’s more than 3 months, and the seller has no real assurance the sale will actually close. If you have a good relationship with a private commercial mortgage lender (or have a good mortgage broker with such a relationship) and you know the kind of deal they can close on in an instant, you have a significant advantage.You Might get a Lower PriceMost private lenders will only lend up to 65% of the purchase. If you present a scenario where a lower purchase would allow you to make a larger (percentage wise) down-payment, qualifying the deal for a private (sometimes called “hard money”) loan that can close in weeks instead of months, the seller might just be interested. Especially if the seller needs the cash in-order-to get involved in a new project or building.You Might get Better TermsSellers willing to carry back a 2nd mortgage on a substantial portion of the price could add real equity to a deal and guarantee interest from hard money commercial specialists. If they were confident that the 2nd was only temporary but they could get the deal done quickly, it is very possible they’d be interested.Don’t try This at HomeSophisticated real estate strategies are for sophisticated real estate investors only. Don’t go making promises to anxious sellers unless you know the property, the market and your lender extremely well. Misjudge a deal or your lenders ability and desire to close it and you will lose your earnest money and your credibility. Know what you are looking at and know what a lender will lend and give yourself an out in the purchase and sales contract.Here’s What Private Lenders Need to Close a Deal in 21 DaysEquity. In order to facilitate a expedited close a hard money lender will demand at least 50% protective equity in a land deal (50% LTV), 40% (60% LTV) in a vacant building and 35% (65% LTV) in a building that has cash flow sufficient to cover it’s own mortgage payment. Don’t ask them to be flexible with these standards and expect them to move at light speed also, it won’t happen.Cash. Private lenders won’t deal with any borrower that can’t or won’t bring at least 10% hard cash to a deal. If you want to get them interested in closing in 2 or 3 weeks, I’d recommend bringing more than that. Even if the seller is willing to carry back a massive 2nd the lender will be cold to the deal unless the borrower has real skin-in-the-game.Documentation. Be sure the seller can, and will, provide all the necessary documentation on the building. To achieve a fast close you will need to work with property owners who have kept meticulous records and can produce them, in digital format, instantly. Hours matter when trying to pull off a quick close; you will not have time to allow the seller to gather or create the paperwork. You will need the seller to provide digital photos of the property, inside and out, profit / loss statements going back 2-3 years, a certified rent roll with copies of rental agreements or leases attached maintenance records and copies of relevant bank statements. You will need to have, on hand, a resume that includes a summary of completed deals, a personal financial statement with the documentation to back it up, and a detailed “source and use of funds” statement that proves you have the down-payment readily available and details what you intend to use the loan proceeds for.Clear title. There is no time to be clearing up title disputes. If a title search reveals problems the close will be delayed.Environmentally friendly. Environmental liability is unlimited; lenders can not take chances and cut corners on potentially contaminated sites. Don’t try to push through a quickie loan on a gas station, dry cleaner, chemical plant, brown field or a nuclear waste dump. There is too much at stake for a hard money lender, if there is a hint of environmental problems they will require full due-diligence.Access. If a deal is-to-be closed in just a few days there may not be time for a certified appraisal. The lender will want to thoroughly inspect the site more than once. Make sure they have access to the building when they need it. They may need to bring engineers, brokers or other commercial real estate professionals, scheduling these inspections is usually a one-shot deal. Facilitate the lender on their time table, or the deal could be blown.Income. Nothing helps a deal fly through like income. It is exceedingly difficult to close any commercial loan in less than 3 weeks if the collateral property does not “cash flow”. Ideally, a private lender would like to see positive cash flow 1.2 (or more) what the mortgage payment will be. This cash flow should be backed up by fairly long term, documentable leases.Super-Fast Closes are the ExceptionMany privately funded commercial mortgage loans can and do close at light speed, and, any hard money loan is fast compared to conventional financing. But, from the lenders perspective, short-fuse deals are risky. If you’re going to use the promise of a 21 day close as a bargaining chip, know your lender and choose your deal wisely. Look for cooperative, well organized sellers offering income producing buildings at exceptional prices. Bring plenty of cash to the table and make yourself and the building available on a moments notice.

Posted in Uncategorized | Tagged , , , , , , , , , | Comments Off