Medical Factoring
Medical Factoring
Get the money you are owed today! Advance up to 80% of Your Medical Claims with Medical Factoring.
WHAT IS MEDICAL FACTORING?
Medical Factoring is carried out by specialized medical funding companies that have a deep knowledge of medical billing. This type of factoring is available to growing practices that bill Medicare, Medicaid, and insurance companies for their services, but don't have access to traditional financing sources.
One of the most frustrating aspects in the healthcare industry is the time it takes to receive payment for claims. With an average of 30-120 days to wait for payment, many new and fast-growing healthcare businesses suffer serious cash flow problems and shortages of working capital. Medical Factoring is a simple and fast-working solution to this serious problem. Once a medical practice sells and assigns their claims to a medical factor, they will receive and advance of up to 80% of their unpaid claims. This advance rate will be determined based on the anticipated percentage of collections or dilution rate. Healthcare businesses must be thorough and make sure that claim forms are properly submitted in order to move the process along. Once the insurance carrier pays the claims, the medical factor will settle the transaction and forward the business the remaining portion of their receivables minus fees and interest.
There is a more sophisticated medical funding program for mature practices that need cash flow but have strong billing and collections practices. These practices can gain access to a line of credit based on their accounts receivable. It is important to be aware that medical factoring requires a much higher level of specialization and labor than traditional factoring, however, medical factoring is a great option for medical practices that have cash flow needs and could use the back-office support.
Turn your future sales into cash NOW, and gain the working capital and the peace of mind your company needs to succeed. Get a Free Quote Today from Green Capital Funding, LLC.
THE PROCESS
WHO SHOULD APPLY FOR MEDICAL FACTORING?
- Growing practices that do not have access to traditional financing sources.
- Mature healthcare companies that require cash flow and have good invoicing and collections practices.
- Those needing enough working capital to make payroll.
- Those strategizing about new facilities or other growth strategies
- Those wanting to restructure and operate after bankruptcy
BENEFITS OF MEDICAL FACTORING
Speed & Improved Liquidity - Bridge the gap between invoices and collection, and access up to 80% of the cash tied up in your medical claims within 24 hours of verification with our Factoring services. |
|
Less Work for You - Alleviate the administrative burden of chasing outstanding invoices with our credit and collections services. |
|
Opportunity for Growth - Take advantage of growth and acquisition opportunities with funding that grows with you. |
|
Strategic Partnership with Green Capital Funding, LLC - Establish a relationship with us and gain access to better, less expensive solutions. Additional Benefits of our services include... |
Cash in as Little as 24 Hours • No Up Front Fees • Trusted Experts & Partners in Your Success •Competitive Rates & Terms