Medical Accounts Receivable Financing
Many medical professionals say that managing their accounts receivable are one of the greatest challenges they face. Medical accounts receivables are usually by far the largest asset shown on the balance sheet, yet these dollars are often unavailable for long periods of time. Due to the long process associated with reimbursement from third party payers, the need for medical accounts receivable financing has significantly increased. Medcare Solutions programs allows medical professionals and institutions to attend to more pressing matters… such as the welfare of the patient. Our financial sources purchase receivables of rated health insurance companies and governmental agencies throughout the United States. Our lender’s program is not a loan: and unlike a loan, the sale of medical accounts receivables creates no additional debt to the balance sheet. It allows you to obtain a large portion of your receivables in a timely manner. There is an advance of up to 80% of the estimated net medical accounts receivable. The lender’s monthly service fee is a flat fee that is deducted from the remittances – this fee is based upon numerous factors including average turn around time, average claim size and overall account size.
With factoring, also known as medical accounts receivable financing, accounts receivable invoices are bought at a discounted price. If yours is a business that sells services or products to companies that pay in 30, 60 or 90 days or more, then Medcare Solutions has the perfect liquidity solution that you’ve been looking for. It doesn’t matter if you have a company that’s just getting up and off the ground, one that’s currently in bankruptcy or even one that’s losing money, we can help you.
What makes our medical financing receivables solutions so unique is that we base your financing on your customer’s credit instead of yours, which isn’t recognized as a debt since you are selling an asset. We will make sure that we closely examine your customer’s credit in order to identify any questionable risks that you need to be aware of while supplying you with periodic detailed statements. Depending on your account, there’s a chance that you can get free credit insurance.