Medical and Healthcare Facilities Factoring
What Is Medical And Healthcare Facilities Factoring?
Medical and healthcare facilities factoring allows you to obtain cash advances on your outstanding invoices and accounting receivables, eliminating the need to wait for payment from insurance companies which can take as long as 90 days to arrive. At Business Factors, our two most popular medical and healthcare facilities factoring options are medical and healthcare facilities invoice factoring and medical and healthcare facilities accounting receivables factoring.
With medical and healthcare facilities invoice factoring, we advance you a certain percentage of the total amount, based on the credit worthiness of your clients, and minus a small service fee. Once your clients pay their invoices, we are repaid. Medical and healthcare facilities accounting receivables factoring is a similar process, the difference being that we purchase your outstanding accounting receivables, assume all financial risk and collection responsibility, and advance you a first installment amount of the total.
How Does Medical And Healthcare Facilities Factoring Work?
- You send copies of your claims to Business Factors
- We advance you a certain percentage based on the amount to be factored and the credit worthiness of your clients.
- You receive the funds that you need, without having to wait for payment from insurance companies
- Once we receive payment from the clients we reimburse you the rest of the total amount minus a small service fee.