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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 Medical Factoring Help your Cash Flow? |
| By: Marco Terry |
Learn if medical factoring can help your growing healthcare business or medical office.
Most healthcare businesses have to wait between 15 to 150 days to get claims paid by private insurance, Medicare/Medicaid and HMOs. Although most payments are made in 15 to 45 days, a simple change in billing codes or a request for additional documentation can add weeks or months to the expected payment date of a medical claim.
However, if you own a healthcare practice, DME, hospital or testing center you have expenses that must be paid like clockwork. Payroll needs to be met. Rent needs to be paid. Equipment must be bought. Not surprisingly, all these expenses have one common element – you either pay them or you go out of business.
This leaves you with two possible options. Either you must have a cash reserve sitting at the bank or you need to get financing to cover the wait.
Many healthcare businesses try to get a loan or a line of credit. Although they can work reasonably well, they have one serious drawback. They have limits. And once you reach them, you are usually out of luck if you need additional financing.
The best alternative is to factor your medical receivables with medical factoring. Medical factoring provides you with financing based on your insurance claims, eliminating the wait and providing you with funds to operate your business. And opposed to traditional financing, you have no set limits. You can factor as many insurance claims as you can generate. It’s really a tool for growth.
Factoring is easy to implement and incorporate into your business. Here is how it works.
1. You send your claims to the insurance company and to the factor
2. The factor advances you up to 85% of your expected net collections
3. 15% is not advanced and is used as a reserve to handle charge backs
4. You get immediate use of the funds while the factoring company waits
5. When the claim is paid, the transaction is settled
Since factoring relies on the insurance company’s payment habits and financial strength , it can be a great tool for new and growing businesses that may not qualify for – or have exhausted – their bank options.
ABOUT THE AUTHOR
Are you looking to factor your medical receivables? We can provide you with a medical factoring quote. Call Marco Terry at (866) 730 1922. Need more information? please go to our medical factoring resources area.
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| Keywords: Medical Claim claims, learn if medical, medical, Medical Claim, claim, medical receivables, insurance claims, factor your medical, medical claim however, medical factoring |
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