| There are few bigger pains for healthcare | | | | business grows its billings, the solution |
| industry professionals than having to wait | | | | should be able to adapt the financing it |
| 30, 60 or even 120 days to collect payments | | | | delivers, seamlessly. Third, the solution |
| from insurance companies, HMOs and Medicare | | | | should allow you to finance significant |
| Medicaid. The healthcare industry is riddled | | | | growth. Maybe three to five times your |
| with complex billing, coding and processing | | | | current revenues - or more.There is a |
| rules that create very long payment cycles. | | | | solution that meets these criteria and is |
| This can be very difficult for medical | | | | available to the healthcare industry. The |
| offices, testing and diagnostic centers, | | | | solution is to factor your medical |
| medical supply companies, or any healthcare | | | | receivables using a financing tool called |
| related business, for that matter. There are | | | | medical factoring. Medical factoring allows |
| always many ongoing expenses that can't wait. | | | | you to accelerate your payments from |
| There is rent that needs to be paid, offices | | | | insurance companies, HMO's or Medicare |
| expenses that need to be covered, and payroll | | | | Medicaid. It enables you to receive a |
| that must be met.This situation creates a | | | | substantial amount of your net collectables |
| problem for most healthcare businesses. On | | | | within days of billing, streamlining your |
| paper, the business may look very profitable | | | | cash flow dramatically.Medical factoring, a |
| and seem to be doing well. But in reality, | | | | specialty form of general factoring, allows |
| most of the money is tied up in slow paying | | | | you to sell your claims and receivables to a |
| invoices (also known as accounts receivable) | | | | factoring financing company. The factoring |
| with little cash to show for it in the | | | | company buys them - at a small discount - and |
| bank.When faced with tight cash flow, most | | | | pays you with immediate funds. The factoring |
| healthcare professionals turn to their | | | | company waits to be paid while you get to use |
| bankers. Medical doctors can usually qualify | | | | the funds to meet business expenses. As |
| for signature loans or lines of credit. Other | | | | opposed to traditional banking financial |
| business professionals are not so lucky. In | | | | products, medical factoring has no arbitrary |
| reality, a loan or line of credit may help | | | | limits. You can factor or sell as much |
| you in the short term, but will not solve the | | | | revenue as you can generate, making it the |
| main problem. Why? Well, loans are good for | | | | ideal financing tool for growth.However, |
| buying equipment or large capital | | | | factoring is not the best solution for every |
| expenditures, but not for covering recurring | | | | situation. It works best in instances where |
| and ongoing expenses. A line of credit is a | | | | your main challenge is that you cannot afford |
| better solution, but they usually have fixed | | | | to wait to get paid in 60 to 120 days. It |
| limits. What happens if the business grows | | | | helps you meet ongoing and recurring expenses |
| past the limits of the line of credit? Many | | | | such as rent, payroll and lease payments. |
| healthcare professionals usually find out, | | | | Medical factoring is an ideal solution for |
| the hard way, that the bankers that were | | | | medical offices, rehabilitation centers, |
| quite happy to extend the first loan or line | | | | medical testing and diagnostic centers, |
| of credit will not be so helpful at | | | | medical supply companies and small to mid |
| increasing it. Unfortunately, bankers | | | | sized hospitals.Invoice Factoring |
| absolutely hate it when businesses came back | | | | GroupInvoice factoring Group can provide you |
| to the well for more money.If you look at | | | | with a medical factoring and medical |
| the problem at hand, you will soon realize | | | | receivables factoring quote for free. Marco |
| that the perfect solution should have the | | | | Terry, the president, can be reached at (866) |
| following characteristics. First, it should | | | | 730 1922Copyright (C) 2006 - All rights |
| be able to accelerate your insurance payments | | | | reserved. Article may be preprinted provided |
| so that you can get them quickly rather than | | | | it is not modified and all links are kept |
| slowly. Second, the solution should be able | | | | live. |
| to grow with your business. So, if your | | | | |