Medical Billing Softwares

Medical Factoring for Small Medical Offices

By: Marco Terry

Are you waiting up to 90 days to get paid by insurance carriers, HMOs and Medicare/Medicaid? Learn how to get financing with medical factoring. As commercial lines of credit and business loans get harder and harder to qualify for, many medium and small medical practices and healthcare businesses are turning to medical factoring to help alleviate their slow cash flow. Although many medical practices can still qualify for a business loan or line of credit, many are finding that traditional banking products don’t always solve their cash flow concerns in the long term. Why? Well, traditional business loans have to be paid within a few years and lines of credit have fixed maximum limits. Basically, neither product is very flexible and both are hard to get, unless you run a medium sized medical practice. Medical factoring presents an interesting financing alternative. It provides you with financing that is tied to your insurance claims. If you file more claims this month than last month, your financing goes up accordingly. It provides you with predictable cash flow, ensuring that you are able to meet your office expenses. You’ll have predictable money to pay rent, meet payroll and invest in growth. And, medical factoring is ideal for small medical offices. Although most factoring companies have minimums, many will finance an office that is billing as little as $50,000 (net) per month. Medical factoring works as follows: 1. You submit your insurance and Medicare/Medicaid claims as usual. You send a copy to the factoring company 2. The factoring company advances you 70% to 85% of your net collectibles (the non advanced part works as a reserve to cover disputes/etc.). You can use the funds as you see fit 3. Once the medical factoring company gets paid, the transaction is settled. Setting up a factoring account can take a couple of weeks, mostly because the medical factoring company will need to perform their due diligence and audits. However, once the account is set up, the financing is continuous. You can usually get your claims funded within 24 hours of submitting them to the factoring company. If your small medical practice has slow cash flow but good growth prospects, then factoring may be the tool to help you finance your growth. ABOUT THE AUTHOR We provide business financing to the healthcare industry through medical factoring. We can provide you with a free medical factoring quote by calling Marco Terry at (866) 730 1922. Need more information? Check our medical factoring articles.

Keywords: Medical Claim small medical, with medical factoring, financing with medical, claims, medical practices, factoring, medical, Medical Claim, medical factoring, medical factoring company

Offshore Custom Software Development Company In India - Erp Solutions Accurate Info Solutions
... HOSPITAL MANAGEMENT. SOFTWARE. MEDICAL BILLING. SOFTWARE. TARGET. IMAGING SOFTWARE ...


Medical Billing Service, Radiation Therapy Billing Specialists
Radiation therapy billing specialists provide HIPAA compliant, electronic medical billing services nationally by the RTBS division of 51 Oakwood, Inc. ... you organize your medical or radiation oncology ... your medical and radiation oncology billing and collections ...


Medical Transcription, Medical Billing and Medical Coding At-Home Courses with Internship and Jobs to follow
... Feedback: Medical Transcription, Medical Billing and Medical Coding At-Home Courses with Internship and Jobs ... in the business of developing softwares for most of the major corporate ...


Medical Billing Software servicing Nokomis, FL at SuperPages.com
Find the Best Medical Billing Software serving Nokomis, Florida at SuperPages.com. SuperPages from Verizon has listings for many more Nokomis businesses.


Open Directory - Business: Financial Services: Medical Billing
the entire directory only in Financial_Services/Medical_Billing. See also: A1A Billing and Collection - Provides medical billing and collection services. ... Billing and Collection - Provides medical billing and collection services. AAA Medical Billing Service and Software - A California medical billing service and software ...