Medical receivables factoring allows healthcare providers to sell their outstanding accounts receivables for an immediate influx of cash.
Besides needing funds for operating expenses and working capital requirements, providers in the healthcare industry are constantly challenged by changes in technology and other demands on their capital allocations. Unlike traditional lenders who offer companies secured loans with their accounts receivables, this type of funding removes the burden of repayment from companies and puts it on their debtor.
How Does Medical Receivables Factoring Work?
Receivables factoring for healthcare is the selling of outstanding accounts receivables from a healthcare provider to a lender. Once purchased, the lending company—such as Factor Funding—will send funds at an advance for 70-95% of their value. Once the receivables are paid, Factor Funding will send the remaining value minus a small factoring fee. This helps healthcare providers maintain a steady cash flow to pay expenses needed for daily operations and not be slowed down unnecessarily.
The Challenges Healthcare Providers Face:
Dwindling reimbursement rates
Longer payment cycles
Difficulty accessing needed financing
Our Clients Use Medical Receivables Factoring to:
Replenish working capital
Expand their businesses
With medical receivables factoring, the money a healthcare provider elects to receive on a weekly, biweekly, or monthly basis will come with no strings attached.
List of all jobs currently working on (construction)
Federal Tax Identification #/W-9
Medical Receivables Factoring
Who uses factoring for receivables? Healthcare providers with outstanding accounts receivables who are struggling with cash flow shortages. This includes:
Diagnostic and Imaging Centers
Physical Therapy & Rehabilitation Centers
Home Healthcare Agencies
Benefits of Medical Receivables Factoring
— Especially with Factor Funding
Reduce Your Credit Risk and Grow Your Business
Don’t try and float debt on credit cards or consider other creative financing solutions that could risk your business and personal credit. Contact Factor Funding today to learn how to reduce your credit risk and grow your business through our medical receivables factoring program.
Years of Experience
Factor Funding has been in business for over 20 years. We provide accounts receivable funding and other short-term loans and business services throughout the United States.
Get in Touch With Factor Funding
To Get Started with Medical Receivables Funding
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Reach out for assistance to ensure that your feeling of being in a rut over finances doesn’t last long. We get companies the quick cash they need to get things done in the here and now so they can focus on company success.
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Other Small-Business Funding Options
ACCOUNTS RECEIVABLE Factoring:
Selling an invoice or accounts receivable to obtain immediate cash is called factoring. Essentially, factoring receivables...