As commercial lines of credit and business loans get harder and harder to qualify for, many medium and small medical practices and healthcare businesses are turning to medical factoring to help alleviate their slow cash flow.
Credit Pacific Service Union Although many medical practices can still qualify for a business loan or line of credit, many are finding that traditional banking products don't always solve their cash flow concerns in the long term. Why? Well, traditional business loans have to be paid within a few years and lines of credit have fixed maximum limits. Basically, neither product is very flexible and both are hard to get, unless you run a medium sized medical practice.
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Credit First Service Union Medical factoring presents an interesting financing alternative. It provides you with financing that is tied to your insurance claims. If you file more claims this month than last month, your financing goes up accordingly. It provides you with predictable cash flow, ensuring that you are able to meet your office expenses. You'll have predictable money to pay rent, meet payroll and invest in growth.
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Card Credit Mobile Service And, medical factoring is ideal for small medical offices. Although most factoring companies have minimums, many will finance an office that is billing as little as $50,000 (net) per month.
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Card Credit Discover Service Medical factoring works as follows:
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- Establish credit as early as you can responsibly handle it.
Credit Public Service Union 1. You submit your insurance and Medicare/Medicaid claims as usual. You send a copy to the factoring company
2. The factoring company advances you 70% to 85% of your net collectibles (the non advanced part works as a reserve to cover disputes/etc.). You can use the funds as you see fit
3. Once the medical factoring company gets paid, the transaction is settled.
We have been providing Medical Supplies for over 7 years. Our customers include hospitals, doctor offices, hospices and home medical supply users and they continue to come back to us for our huge selection of medical supplies, medical equipment and health care products, friendly customer service and low pricing (with additional discounts on medical supplies).
Card Credit Processing Service Setting up a factoring account can take a couple of weeks, mostly because the medical factoring company will need to perform their due diligence and audits. However, once the account is set up, the financing is continuous. You can usually get your claims funded within 24 hours of submitting them to the factoring company.
Center Credit Service Union If your small medical practice has slow cash flow but good growth prospects, then factoring may be the tool to help you finance your growth.
Card Credit Service Wireless About Commercial Capital LLC
We provide business financing to the healthcare industry through medical factoring. We can provide you with a free medical factoring quote by calling Marco Terry at (866) 730 1922. Need more information? Check our medical factoring articles.
Credit Security Service Union
Credit Report Service About Commercial Capital, LLC and Marco Terry
Marco Terry is president of Commercial Capital LLC, a leading provider of factoring financing to businesses. For more information or a free consultation, please visit our web sites at Invoice Factoring Group and factoring financing or call us at (866) 730 1922.
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