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Medical Billing News

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.



Medical Billing Articles (updated Frequently)

How to Finance a Growing Pharmacy with Medical Factoring
By: Marco Terry
Medical factoring is an innovative financing tool that can help finance your growing pharmacy.

Hurry up and wait. If you own a pharmacy that is billing private insurance companies, HMO’s and Medicare/Medicaid you know the meaning of that phrase very well. Hurry up and wait is what happens after you submit client claims for payment. You wait 30, 60 and sometimes 90 days before you get paid.

In the meantime, you still need to pay rent, meet payroll and pay your suppliers. Paying them on time is critical for the success of your business.

So, what can you do if you cannot afford to wait to get paid? Going to the bank won’t help you unless you have been in business three years, have great credit, plenty of assets and can provide three years of audited financials. Without them, banks will seldom lend you a dime.

But there is a financing tool that can provide you with the financing you need. Not only that, as your sales increase, so does your financing. This tool will allow you to have the funds to pay rent, meet payroll and pay your suppliers. It eliminates the hurry up and wait game that insurance companies play.

It is called medical factoring.

Medical receivables factoring provides you with financing based on your slow paying insurance claims. As opposed to bank financing, medical factoring is easy to qualify for and can grow, as your business grows.

It works as follows:
1. You bill insurance companies, Medicare/Medicaid and HMOs as usual
2. You then submit your invoices to the factor for financing
3. The factoring company advances you up to 85% of your expected collections
4. The remaining 15% is kept as a reserve.
5. You get immediate use of the money. The factoring company waits to get paid
6. Once the factoring company is paidComputer Technology Articles, the remaining 15% (less a fee) is rebated

Factoring financing streamlines your cash flow and allows you capitalize on your biggest asset: your slow paying claims from insurance companies. It is an ideal tool for new and growing pharmacies or healthcare providers who need the cash flow to grow and take their business to the next level.

ABOUT THE AUTHOR
We provide business financing. We can provide you with a medical factoring, medical receivables factoring or invoice factoring quote. For a free consultation, call Marco Terry, at (866) 730 1922.


Keywords: Medical Claim claims, factoring, medical factoring, factoring medical receivables, medical receivables, factoring medical, medical receivables factoring, Medical Claim, medical factoring medical, medical


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