If you have a healthcare business, you can probably factor your receivables if they are paid by third party payors. We have programs to fit your needs. If you have a net collectable value each month of $50,000-$100,000, we might have a program for you. If you have over $200,000, we have a program for you, too.
Medical receivables that are paid by insurance companies, Medicaid, Medicare and other government agencies can all be factored.
Once your account is set up with the factor, you will receive up to 85% of the invoices within hours of turning them in each week. When the bills are finally paid, you will receive the rest of the amount owed, minus a small fee. The fee depends on many things and will probably range somewhere between 2% and 6%.
We can help these businesses and many more: Acute or Rehab or Specialty Hospitals, Physicians, Surgery or Imaging Centers, Dialysis or Urgent Care or Rehab Centers, Ambulance companies, Medical Labs, DME/HME, Osteopaths, Oral Surgeons, Pharmacies and Home Health Care.
If most of your bills are paid by individual patients and not an insurance company or government, factoring probably will not work for you.
You will lose all the stress of not knowing when you will be paid for the work you are doing. You’ll be able to pay all your vendors and staff on time, you’ll be able to keep up with all your bills. You will even be able to hire more staff or buy more equipment, because you'll know you can accept more business.
Call us now and tell us about your business. We can help you get the money you need to give you working capital so your healthcare business can grow.