Medical Factoring Solutions

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Medical factoring. Keeping the cash flowing is sometimes a challenge for Medical professionals, which is primarily caused by unpaid invoices of commercial customers including Medicaid, Medicare and insurance companies.

Invoice factoring can help medical professionals solve their cash flow problems quickly. Our medical factoring services offer healthcare providers and the medical community in general flexible funding options tailored to fit their individual capital requirements with terms and pricing that are very competitive.

Funding is available on medical billings to Medicaid and Medicare, Blue Cross and Blue Shield, PPOs and HMOs, Workers Compensation Carriers and Commercial Insurance Companies. Funding options include: accounts receivable financing, commercial invoice factoring and receivables line of credit.

SIMPLE PROCESS

Typically we begin with a phone call to understand your specific situation and funding requirements and to answer any questions you may have.

BASIC QUALIFICATIONS

• Healthcare Provider Type: 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 more. Insurance Carrier/Payor:  Medicare, Medicaid, Veteran Association, Commercial Insurances, Private Insurances, HMO/PPOs
• Minimum Monthly Revenue: $25,000 insurance payments revenue
• Time in Business: 6 months minimum (with 4-6 months of accounts receivables)
• Credit/Fico Score: 600+Business
• Liens/Judgments/UCC: No open business liens or judgments/No opened or unexplained UCCs
• Bankruptcy: No bankruptcy or foreclosure in the last year

PRE-QUALIFICATIONS

To get started with the application process the following documents are required. Same day approvals.

• Application:  Signed and dated application, must be completed, signed and dated within 30 days of applying for financing. Applications submitted without phone numbers or emails will not be accepted.
• Business Bank Accounts: 4-6 months most recent statements. Including all deposit and transfer accounts required.
• Accounts Receivable Report: Complete aging report by insurance carrier/payor

UNDERWRITING DOCUMENTS

Required documentation for underwriting:

• Business License
• Medical License
• Proof of Malpractice/Liability Insurance
• Articles of Incorporation
• IRS Letter Assigning EIN
• Bank Verification
• List of Insurance Carriers/Payors
• Voided Check to Operating Account
• Proof of Ownership
• Copy of Valid Drivers License
• Other documentation, if any, required by underwriting

ADVANTAGES

• Clients will be dealing with a direct source of private and institutional funds
• Competitive rates
• Advances on receivables as high as 80% on eligible ARs
• Simple - uncomplicated qualifying process
• Flexible terms. Financing can be structured to fit the business funding requirements
• Lockbox Account

HealthcareFactoring is part of a network of strategic partners specializing in funding solutions for medical professionals nationwide with financial services that are tailored specifically for the medical industry.

For more information, please contact us at anytime.

Get Started