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Restaurants and retailers aren’t the only small businesses that have taken a financial hit during the COVID-19 pandemic.
Physicians in small private practices, and home health care services around the country have reported steep declines in revenues, drops so significant that some of them and their supporters have turned crowdfunding to raise funds to help pay their overhead. Tele-medicine has helped pick up only a small portion of the slack.
As the healthcare industry continues to expand, cash flow from healthcare provider payments can be unpredictable and inconsistent. Insurance carrier turn around can take 90 days or longer to issue payment, making it more difficult to manage your cash flow, operate your business efficiently, deal with growth and any unexpected issues that may arise.
Cash Flow Solutions for Healthcare Providers
Medical accounts receivables financing is an asset-based factoring facility that fast-tracks payments from insurance carriers by allowing our partners to purchase your net eligible insurance receivables. The healthcare sector is stressed with cash flow issues due to outstanding insurance claims with terms between 30, 60, 90, 120 plus days.
Through our financial management solutions partners, healthcare providers can factor up to 80% of medical insurance account receivables for business growth and continue to deliver quality care.
Providers that accept private, commercial and or government insurance including Medicaid and Medicare with a minimum of $10,000 in monthly eligible insurance receivables are eligible to apply.