Graco Mortgage

Medical Factoring

 
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Are you billing insurance providers, Who's or Medicare/Medicaid? If you can't wait up to 90 days to get your claims paid, medical factoring can help.

 

Managing cash flow can be one of the toughest challenges that health care providers face in today's environment

Payment terms offered by private insurance and by Medicare usually force providers to wait weeks or months before getting paid. In the meantime, the providers must still pay employees salaries and supplier expenses.

 

 

Interested in a free no-obligation quote? Contact us now!!

 

 

What is Medical Factoring?

 

Medical receivables factoring provides you with an advance payment based on your medical billing claims. This eliminates the cash flow problems that can be created by slow paying insurance companies. It provides you with predictable cash flow an enables you to meet on going obligations, such as rent and payroll.

 

How does medical receivable factoring work?

 

 

Medical factoring can integrate to most health care practices and works like this:

 

1.  Your business bills insurance companies and sends copies of the claims to the factoring company (this process may vary depending on size)

 

2. The factor advances you up to 80% of expected net billings as a 1st installment.

 

3. Once payments are collected, the remaining 20% is rebated, less a service fee.

It accelerates your cash flow and eliminates having to wait to get paid for rendered services. With medical factoring you get the peace of mind of knowing when your claims will be paid.

 

Medical Factoring Benefits

 

1. Medical factoring provides your business or medical practice with predictable cash flow.

 

2. Your medical receivables factoring line is flexible. There are no set maximums and financing grows as your business or medical practice grows.

 

3. Medical factoring financing lines can be set quickly.

 

 

Medical factoring can be used by many types of health care providers, including:

 

* General practitioners                                       * Hospitals

* Internist                                                            * Clinics

* Surgeons                                                          * Psychologists

* Medical Centers                                               * Drug Counselors

* MRI Centers                                                     * Acupuncturists

* Diagnostic Centers                                           * Nursing Homes

* Walk-in Centers                                                * Durable Medical Equipment Suppliers


Would you like to get a free no-obligation quote? Would you like to get a free no-obligation quote? Contact us now!!!