Medical Factoring

Medical Factoring from Green Capital Funding, LLC

By: Green Capital Funding, LLC  03/20/2016
Keywords: Medical, Factoring Services, Invoice Factoring

Medical Factoring is carried out by specialized medical funding companies that have a deep knowledge of medical billing. This type of factoring is available to growing practices that bill Medicare, Medicaid, and insurance companies for their services, but don't have access to traditional financing sources. ​​​One of the most frustrating aspects in the healthcare industry is the time it takes to receive payment for claims. With an average of 30-120 days to wait for payment, many new and fast-growing healthcare businesses suffer serious cash flow problems and shortages of working capital. Medical Factoring is a simple and fast-working solution to this serious problem. Once a medical practice sells and assigns their claims to a medical factor, they will receive and advance of up to 80% of their unpaid claims. This advance rate will be determined based on the anticipated percentage of collections or dilution rate. Healthcare businesses must be thorough and make sure that claim forms are properly submitted in order to move the process along. Once the insurance carrier pays the claims, the medical factor will settle the transaction and forward the business the remaining portion of their receivables minus fees and interest. There is a more sophisticated medical funding program for mature practices that need cash flow but have strong billing and collections practices. These practices can gain access to a line of credit based on their accounts receivable. It is important to be aware that medical factoring requires a much higher level of specialization and labor than traditional factoring, however, medical factoring is a great option for medical practices that have cash flow needs and could use the back-office support. Turn your future sales into cash NOW, and gain the working capital and the peace of mind your company needs to succeed. Get a Free Quote Today from Green Capital Funding, LLC.

Keywords: Claim Factoring, Factoring Services, Green Capital Funding LLC, insurance claim, Invoice Factoring, Invoice Factoring Company, Medical, Medical Factoring,

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