Medical factoring companies help all types of healthcare providers. Healthcare factoring solves cash flow problems caused by outstanding insurance receivables. A healthcare factoring company funds your insurance billings so that you don’t have to wait to collect payments from your insurance companies.
Healthcare factoring improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. You get the cash quicker so you can pay for supplies, payroll and other operating expenses.
Healthcare factoring companies work with healthcare providers that receive payments from third-party insurance carriers like Medicare, Medicaid, Commercial Insurances, Private Insurances, and HMO and PPOs.
Healthcare factoring companies have extensive experience with medical billing and reimbursement. They analyze your historical billings and collections to determine an appropriate factoring advance rate.
Healthcare factoring companies can approve your factoring application within several business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring a quick and easy process.