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