Important information about medical receivable funding by US medical hub
Posted by John on April 21st, 2017
The existing adverse medical lien funding of the healthcare industry has placed hospitals, medical groups, private practitioners and other providers in a perilous position. Cumbersome and bureaucratic third party billing systems with long time-to-collection waiting periods have resulted in inconsistent cash flows and limited capital for growth. Across the country, two-thirds of physicians work in practices that are set up as a small business. Payment reduces 18% over four years, together with soaring malpractice premiums as well as other overhead costs, have threatened to put such practices away from businesses. More than 50% of doctors have deferred plans to purchase much-needed new equipment, and also 30% either have lain off employees or are planning layoffs in the near future.
What is medical receivable funding?
Medical receivable funding is a means by which health care providers (Hospitals, Medical doctors, Outpatient Facilities, Physical Therapists, Dialysis Facilities, MRI Facilities, Durable Equipment Suppliers, Rehab Centers, Medical Labs, & Substance Abuse Clinics) receive immediate cash for their billings to third party payors (i.e. business insurance companies, HMOs, Azure Cross/Blue Shield, Medicare and also Medicaid).
What Factoring "Is Not: " • A Loan - Factoring is the sale of your medical claims for services already provided • Offered by Banks: Factoring is not an asset-based personal loan, nor is it a debt facility similar to those offered by banks.
Why don't simply pick up the phone and call a bank for a loan to get through the particular crisis? Many of you previously tried that and have been surprised to find that the average training may not have sufficient credit and also assets with which to secure adequate working capital. Additionally, the traditional banking loan application and acceptance process are long and involved. Debt is created for that practice to repay, and personal guarantees are required. The particular practice becomes less desirable for resale or acquisition.
As opposed to bank lines that can tie way up all of your property, factoring involves only your current third party medical promises • No collateral apart from accounts receivables
The creation regarding solid dependable income
For getting more information about Workers Compensation Funding visit the website http://www.usmedicalhub.com/worker-comp-ar-funding/
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About the AuthorJohn
Joined: December 27th, 2014
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