Medical supply companies in general are very profitable businesses. However, most medical supply companies operate on a very tight cash flow. Unfortunately the challenge of billing procedures and slow payment cycles of insurance companies, HMOs and Medicare / Medicaid is paid to create a situation in which many companies wait 30 to 60 days before.
Cash flow can be even tighter if the company's sales grow, or if the owners decide to open new locations. When this happens, most companiesOwners are trying to get the funding by the bank for a loan or credit line. However, incredibly difficult for the bank funding because they only lend money to a business that shows the gains for three straight years and audited financials are available.
There is an alternative financing in health care, which is used with success with medical supply companies. This solution provides you with a quick financing solely based on your sales. Moreover, sinceFunding is tied to sales, the line of financing to grow with the growing sales. The solution is to factor in your health insurance claims with medical claims factoring.
Medical factoring provides immediate funding on your slow paying insurance and Medicare / Medicaid claim. Rather than wait for payment from 30 to 60 days, with medical factoring you can be paid in a few days. So that you can make a substantial cash, allowing you to finance and buy even more important toSupplies and fuel new sales.
As for the bank financing, in which the bank lends money to the factoring company purchases your invoices and pay you immediately for them. The process is fairly simple. But, more importantly, it also means that you are free from traditional bank lending requirements. Medical receivables factoring is easier to qualify for, and often the owners credit is not a consideration.
Factoring your medical receivables can be an idealSolution for your medical care if is your biggest challenge that you can not afford to wait up to 60 days paid for by insurance. If that is the case, should grow medical factoring you with the working capital required for the operation and your company.
0 ความคิดเห็น: