Medicaid Practice Systems was founded in 2002 by company president
David J. Zumpano CPA, an attorney and estate planning practicioner
in upstate New York.
With a falling stock market and a rising federal estate tax
exemption, Zumpano experienced reduced demand for his services
amongst clients with a net worth of $500,000 and $5 million.
However, one area of his estate planning practice continued
to grow through these challenging times: Medicaid planning for
individuals and couples with a net worth of less than $500,000
or more! There remained amongst this constituency a pronounced
need for skilled assistance in navigating the complexities of
obtaining Medicaid coverage when an elderly family member needed
nursing home care.
Unique Opportunity.
With his extensive knowledge of the relevant laws and procedures,
Zumpano was able to address this need effectively. He helped
many families protect their hard-earned assets from being drained
by nursing home or Medicaid reimbursements, a service for which
they were extremely grateful. In turn, Zumpano found that these
Medicaid planning clients were happy to pay fees of $5,000 to
$10,000 – well in excess of what he commonly earned with
traditional estate planning clients.
A New Program For Success.
Zumpano began to share his successes with colleagues both informally
and at national forums. Interest in Medicaid planning was so
high amongst estate planning attorneys, he decided to develop
a system for teaching not only Federal Medicaid rules, but the
means by which attorneys could successfully market a Medicaid
planning practice in their community. Medicaid Practice Systems™
was born.
Since the first Medicaid Practice Program™ cohort met
in April, 2002, over 200 attorneys have implemented MPS methods
and practices, with remarkable success – including a near
tripling of their average fee for services and a 792% increase
in the first quarter of revenues following the begining of the
program. One attorney with no estate planning experience came out of retirement and generated one million dollars in the first 12 months after starting this program.
Biographies.
