Healthcare Factoring Services
Factoring
Does your healthcare company or medical practice sometimes run out of cash due to unpaid invoices or claims? Factoring can be the solution. Unlike banks and other traditional lenders, we offer specialized, flexible funding options utilizing your accounts receivable, which may include Medicaid and Medicare claims, private insurance, PPOs, HMOs, and other commercial receivables.
Funding options that can turn red into black fairly quickly, allowing the company to move forward without cash flow concerns.
- Medical Receivables Financing or Factoring
- Facilities from $500,000 up to $15 million (below $500,000 - click)
- Based on current accounts receivable
- Up to 85% advance rate
Our Healthcare Factoring solutions are available to companies in many sectors of the healthcare / medical industry, including:
- Home Healthcare Agencies
- Medical Practices
- Physicians
- Physician Groups
- Mental Health
- Specialty Pharmacies
- Senior Living Facilities
- Hospitals
- DME/HME
- Medical Transport
- Imaging Centers
- Urgent Care Centers
- And others
Typically, we begin with a phone call to understand your specific situation and funding requirements and to answer any questions you may have.
- How long has the business been operating?
- What were your revenues last 12 months (we will need financials last 2 years and the interim)?
- Billing and Collection History
- How much do you have in accounts receivable (AR aging report)
- AP aging
- Other relevant information, if any
After we have prequalified the transaction based on the above information, we will require a short application and standard information for the specific transaction to underwrite the funding request.
Need Faster Funding?
If you need faster funding for payroll, other business expenses, or to seize a business opportunity, we provide loans based on your monthly revenues that can be funded within just 2 to 3 days. For more details, click here.