Billing Insurance Medical Software

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 paid, 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

Medical Billing Software for Medicare, DME, Other Electronic Claim Filing
EZClaim offers medical billing software for sending electronic or paper claims to insurance processors including Medicare, Medicaid, THIN, Medi-Cal and DMERC for DME claims. ... CMS-1500 (formally HCFA-1500) medical billing, insurance billing, and paper CMS-1500 forms ... EZClaim medical claim billing software can send electronic insurance claims directly to ...


Medical Practice Software - Medical Office Scheduling And Billing Software
Brickell Research, Inc. is a software development firm specializing in medical applications and practice management systems to provide proven solutions for office scheduling and billing.


Medical Billing Software / Practice Management Software : athenahealth
About athenahealth. We believe that health care should be about health and care, not about the complexities of business. ... web-based medical office management software, unrivaled payor ... central billing and reimbursement services. claim submission, eligibility verification, insurance package management ...


Medical Billing Software price quotes: Free medical billing software advice from multiple suppliers
Medical billing software buying advice and free medical practice software quotes from leading suppliers


Medical Billing Software: hospital medical billing software, hospital management
The Capterra Medical Billing Software Directory helps IT buyers find, compare, and research Medical Billing software solutions ... Browse Software by CATEGORY ... Browse Software by INDUSTRY ... View upcoming software EVENTS ... Read leading industry ... your solutions. ( VENDORS) MEDICAL BILLING SOFTWARE DIRECTORY ...