It’s critical for the medical industry to find a financial solution that will help its practices or medical institutions functioning smoothly for the need of timely working capital. Medical receivable financing, aka Medical Factoring, is a great remedy for healthcare businesses facing cash flow problems caused by growth, slow pays, and lagging reimbursements.
Medical Factoring for Healthcare Businesses
Medical Factoring is a cash advance loan on future insurance receivables. Medical accounts receivable factoring is called to advance funds to medical providers who bill third-party vendors.
The funding company is responsible for collecting the receivable amount from the medical insurance companies and pays up the balance amount as soon as the entire amount is collected from the insurance company.
This type of hassle-free financing is a great option for many medical industry professionals. The true specialists in the field like First American Merchant aim at providing capital to a nationwide network of healthcare providers such as:
- Ambulance service providers
- Durable medical equipment providers
- Group practice physicians
- Home healthcare companies
- Internal medicine
- Nursing homes
- Radiology centers
- Rehabilitation-physical therapy companies
- Sole practice physicians
Receivables-based financing enjoys a great popularity among healthcare businesses these days. It provides an unlimited credit line that’s based on the net realized value (NRV) of the accounts receivable.
Medical Accounts Receivable Financing from First American Merchant
If you’re waiting up to 90 days or even more to get your medical claims paid, it’s high time you turned to a reputable business funding provider like First American Merchant. FAM offers low-cost and reliable medical factoring to companies like yours.
Firstamericanmerchant.com is an award-winning alternative online lender and payment processor that specializes in the high risk industry and boasts an A+ rating with the BBB. FAM can help you get access to medical accounts receivable financing without any difficulty and take your business to the next level successfully.
Why to Choose FAM?
- Credit lines starting at $5.000 and up to 10 million
- Customer referrals upon your request
- Financing rates at 0.69% – 1.59%
- No financials
- No monthly minimums
- No invoice minimums
- No facility fees
- No audits
- No up-front fees
- No hidden fees
- Same day decisions
- Set up an account in 3 -5 working days – 24-hour funding thereafter
With a respectable business funding provider like FAM, you’ll stop being locked in a loan agreement that debits your bank account day in and day out, week in and week out, regardless of your cash flow. FAM offers much larger financing amounts as compared to the competitors in the field, because First American Merchant uses future insurance receivables, not just credit cards, to qualify clients. FAM’s financing amounts rely primarily on historical monthly gross volumes.