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As Kids Grow Older, Egalitarianism Honed
A study in Nature shows that egalitarianism begins to appear in most kids between ages 3 and 8. Scientists who studied 229 Swiss children found that at age 3, 9 percent were willing to share candy with another person. But by age 8, that number rose to 45 percent.
Medication Error Death Rate Up 500 Percent
Painkillers, sleeping pills and anti-anxiety drugs are being prescribed to out-patients in high doses, without the oversight of a doctor. A new study found that in the last 20 years there has been a 500 percent increase in the death rate from medication errors made at home.
Breast Exam Rebuttal: 'An Exam Saved Me'
Last week we reported on a study that showed that self breast exams don't help prevent death from breast cancer in women. The interview generated quite a response from listeners. Several women wrote in to say that they had found cancerous lumps in their own breasts and wouldn't be alive today if not for breast self exams.
A Partisan Divide On Health Care Reform
While both John McCain and Barack Obama agree that the American health care system needs reform, the candidates differ markedly in their vision of the remedy. Political scientist Jonathan Oberlander offers an in-depth comparison of the candidates' proposals.
Web Sites Compare How Hospitals Measure Up
A new Web site called "Hospital Compare" evaluates hospital death rates around the country and shows how individual hospitals stack up against the national average. Guests discuss the reliability of the data on the site and describe the measures hospitals are taking to improve performance.
Doctors Fear Effects Of Illegal Immigrant's Arrest
The recent arrest of a popular woman who happens to be an illegal immigrant has some North Carolina doctors concerned. The woman's immigration status apparently was turned over to authorities after she received medical care. Doctors worry that illegal immigrants will be afraid to seek care, which might lead to public health problems.
Moo North: Cows Sense Earth's Magnetism
A team of researchers sorting through satellite images of cows in 300 pastures makes a surprising discovery: Cows tend to face either magnetic north or south when grazing or resting.
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| Medical Billing Articles (updated Frequently)
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| Can Your Business Benefit From Alternative Financing? |
| By: Marco Terry |
Do you own a growing business that needs financing? If you are like most business owners, whenever your business needs money you head over to the bank. Unfortunately, as most small business owners soon find out, most banks do not lend money to businesses unless they have significant collateral and a history of successful operations. This presents quite a challenge for business owners.
When banks are not an option, small business owners turn to what is known as the alternative financing funding market. Although the financing options discussed in this article fall under the alternative financing category, they are actually quite widely used and should be considered mainstream. Most major companies (including public companies) have used this alternative financing at one time or another during their growth history.
Most of the tools described in this article can only be used by businesses that are already in operation, and whose main requirement is working capital. Although startups can benefit from these tools, the companies will need to be in operation for a little while and have a growing list of clients.
General Invoice Factoring
Invoice factoring (also known as accounts receivable factoring) is ideal for business owners who cannot afford to wait 30 to 90 days to get paid by their clients. It allows a business to sell invoices from commercial customers to a financing company for immediate payment. The financing company buys the invoices at a discount and waits for the customer to pay.
The main advantage of factoring your invoices is that the financing company makes its decision using the credit of the payer, rather than yours. That means that if you own a small company that is doing business with a large credit worthy company, you are almost certain to have the transaction approved. Another advantage of factoring is that it does not have set limits like lines of credit.. The level of financing is limited only by the amount you sell to credit worthy clients. General factors can work with most industries, although there are two main industry subspecialties – freight bill factoring and medical factoring.
Freight Bill Invoice Factoring
Trucking companies tend to be very cash hungry businesses. The owners need money to pay their drivers, pay gasoline and pay suppliers. However, most trucking companies also work with a high volume of freight invoices from credit worthy clients. That makes freight bill factoring an ideal solution for their cash flow issues. Just like in general factoring, the factoring company buys the freight invoices from the trucking company for immediate cash.. Furthermore, the risk for these types of transactions is lower than in general factoring. This means that trucking companies can qualify for preferential financing terms.
Medical Factoring
Most medical industry businesses (doctor’s offices, hospitals, medical testing centers and medical supply companies) make the bulk of their earnings by billing 3rd party insurance companies, Medicare and Medicaid. Unfortunately, insurance companies are notorious for paying their invoices in 30 to 90 days, creating cash flow problems at the medical office. Factoring medical offices is a subspecialty of general factoring. Given the complexities of the insurance industry, it usually requires the participation of a factoring company with extensive industry experience.
Generally speaking, the medical factoring company will provide you with financing based on your NET collectables rather then your gross collectables. They will also need to be part of the billing process, to ensure that they finance the right amounts. Due to its complexity, medical factoring is only accessible to medical businesses making at least $100,000 a month. However, if your business qualifies for it, you will find that it is a great tool to streamline your cash flow and grow.
Purchase Order Funding
Most distributors and import/export companies tend to be very cash hungry businesses, in part because of how the sales process works. Usually, the process starts when the distributor gets a purchase order (PO) from a client. They then purchase the items from their supplier, who then drop ships it to the end customer. This works well as long as the company has enough money to pay the suppliers and wait for their clients to pay for the product. However, sometimes a payment can take up to 60 or 90 days to arrive, creating a big cash flow challenge for the distributor. Other times, the company may become too successful and get a purchase order that is too big for them to finance. In these instances, the company should consider purchase order funding financing. With PO financing, a finance company handles your supplier payments and ensures that the goods are properly delivered. Once the client pays for the product, the transaction is settled and all parties are paid. PO funding is a product that truly allows you to grow your company – sometimes exponentially – while using someone else’s money.
About the Author:
About Invoice Factoring Group. Invoice Factoring Group (http://factoring.qlfs.com) can provide you with an accounts receivable factoring, PO funding financing ( http://factoring.qlfs.com/html/purchase_order_financing.html ), freight bill factoring, or medical factoring quote for free. Marco Terry, its president, can be reached at 1 866 730 1922
Source: www.isnare.com |
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| Keywords: Medical Claim factoring and medical, financing, financing terms medical, invoice factoring, medical factoring, medical, factoring, business owners, Medical Claim, medical factoring freight |
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