Having responsibility for the financial health of a healthcare institution today is a significant challenge. Reimbursements continue to fall and expenses continue to rise, while payments continue to lag, and there is little, if any, relief in sight. Therefore, many providers are looking for innovative ways to generate working capital to expand their business and improve their bottom line.
There is a solution for you that more and more healthcare executives like yourself are adding to their financial strategies.
Accounts Receivable Finance
Healthcare Finance Specialist is a premier provider of Accounts Receivable Funding. Our program enables you to utilize a non-performing asset, your accounts receivable, to generate working capital. We purchase your third party claims and advance you cash within 24-48 hours of submission to us. The program's flexibility and immediate cash infusion reduces your dependency on debt-incurring bank loans and credit lines as your sole source of financing, while providing you with a steady and predictable cash stream. Contact us today to find out how we have changed the rules for funding the medical industry
ACH is a short term loan and would be considered a temporary fix. Factoring can be a long term solution to cash flow needs.
Factoring based on the credit worthiness of the debtor (insurance carriers), ACH only evaluates borrower credit worthiness.
Factoring fees are straight forward based on an individual discount fee and purchase volume. ACH charges very high interest rate.
There are many often hidden fees associated with ACH loans such as loan fees, late payment fees, cancelation fees, administrative fees.
The factor purchases account receivables; therefore they will deposit funds into client's account. Factoring is not a loan.
ACH lender will debit payments directly from the client's account. Keeping balance to prevent over draft charges from the bank can be challenging.
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