Factoring – Rescue Mission to Medical ManagementMedical management is an important aspect of running a medical facility or a medical staffing company. Managing their finances is very vital in maintaining the level of medical services they are providing their clients and patients. It takes a steady stream of cash to make the operation of medical facilities and staffing companies ongoing and viable.
However, cash flow problems arise by virtue of the way medical services are paid nowadays. It is seldom that patients pay their medical bills in cash and by themselves. Most of their bills are usually paid through Medicare or some other form of medical insurance.
There’s no problem if the processing of your bills is quick and prompt. You won’t have any difficulty in paying your staff’s salary, or repairing or replacing your worn out medical equipment. In reality, prompt payment of medical claims by insurance companies seldom happens. Thus, medical workers are not paid on time, and medical facilities eventually run down.
There’s A Way Out
If you are involved in medical management and you are encountering cash flow problems, there is a very effective solution that you can implement right now. There are factoring companies that are willing to advance the payment of the medical bills you issued to your patients.
They are willing to buy those bills or invoices in return for an agreed discount or percentage of interest. In some cases, they will also be the one to facilitate or collect the payments from insurance companies.
Take Advantage of Their Services
- • Ready Cash
Once you have sold your invoices or bills to a factoring company, they will release the amount of money that you need right away. It will only take a couple of days to process your request.
- • No Checking of Credit History
The factoring company is not interested in your credit history. It does not matter if your history is good or bad. What they’re interested in are the medical bills and invoices that you have issued to your clients or the health insurance companies.
- • No Need for a High Credit Rating
They are also not interested in your credit rating. Factoring companies are more interested in the credit rating of insurance companies who are supposed to pay your medical invoices.
- • No Collateral Required
The factoring company will not ask you to support your request for cash with collateral. They know that your medical bills and invoices are as good as cash, only that their payments are a bit delayed.
As you can see, seeking the help of a factoring company has more advantages that going to a bank for an emergency loan. The processing is quicker, and there are no strict rules and long processing that you are required to undergo.
If your medical management company is encountering cash flow problems, you can immediately solve it by going to a factoring company such as NeeBo Capital. We don’t require monthly minimums and our financial arrangements are not restrictive. Our company has the lowest interest rates in the industry, starting only at 0.59%.
Why Choose Us?
Rates at 0.59% - 1.5% for 30 days
Quick Link to Financial Resources:
|Purchase Order Financing||Accounts Receivable Financing||Asset Based Lending Options|
General Articles about Accounts Receivable Financing and Factoring:
» 08/01/2012 Debt Financing or Off Balance Sheet Financing?
» 09/15/2011 What to know when selecting a Factoring Company