Stop waiting weeks for reimbursement – receive payment today
It’s no secret that third-party payers, including Medicare, Medicaid, workers’ comp, HMOs, and other private insurers can take much longer than desired to pay your bills. The good news is that you don’t have to wait weeks or months to collect on your medical receivables. If you provide medical or healthcare-related services of any type, we can help you.
These phrases are often used interchangeably and understandably so, but there is a commonly agreed upon difference. Simply put, healthcare factoring applies when there is not a third-party payer involved and medical factoring companies are used when there is a third-party payer involved.
Healthcare receivables are typically associated with customers who are not third-party payers. Some of the common sectors include medical transcription services, medical staffing companies, medical coding and billing services, medical supply companies, and more. By utilizing healthcare factoring, these vendors can enjoy the benefits of a virtually unlimited line of credit all based upon the services they’ve provided. The simple method of factoring healthcare receivables is as follows:
Whether you are billing Medicare or Medicaid, third-party insurance companies, Blue Cross/Blue Shield, or HMOs, we have a factoring solution to help. By factoring your medical claims, you will benefit by receiving capital up-front, while the factor waits months for your customers to remit payment. The general process for factoring medical claims is as follows:
There are hundreds of healthcare and medical factoring companies in the marketplace today and finding the right one for your business can be a daunting task – but look no further, our dedicated specialists are standing by, ready to provide you with the perfect medical receivables factoring solution. Simply contact us today for a detailed discussion focused on your business and its capital needs. In most cases, you can begin funding your receivables in as little as 1-3 days.