Saturday, March 30, 2013

Accounts receivables, considering cash flow solutions for health care providers

Your Medicaid / Medicare, HMOs, private insurance, and lien personal injury settlements, or to obtain workers' compensation insurance in the expected pay-health care providers as the biggest asset accounts receivable ("A / R"). Unfortunately, you must wait 15 to 150 days, or more, for health care providers to monetize this asset due to the current inefficiency of our health care system and the bureaucratic nightmare. Conduct business, pay employees, order supplies, pay rent, advertising and business growth to the company's ability to interfere. Most of the companies working capital loans is set in a local bank, but the bank's most stringent requirements and restrictions, difficult to get a loan so that the hindrances. Some large health care providers to focus on other people with a history of significant man while Bank A / R on a loan I do not want to.

Fortunately, providers, other cash flow options - Medical Factoring!

Medical Factoring in financial institutions (the elements), the provider of outstanding accounts receivable, (invoices) to provide advance payment and health care providers must consider invoice one type. Coefficient of development funds and third-party insurance company to pay an invoice and wait. Provider considering medical factors will bill third-party insurance companies, doctors, physician groups, DME / HME, home health care company, medical transportation and translation companies, imaging centers, laboratories, emergency care centers, and more. How it works is as follows:

1 Healthcare providers, the elements and build relationships

2 Third party healthcare providers to submit bills to the insurance company.

3 Elements in the health care provider must submit a copy of the invoice.

4 Net collects 80% of the value factors to the development. Does not advance, depending on the total Billings is important, but rather because the expected net are worth collecting. Directly or wired within 72 hours, the Fund will be deposited into the provider's bank account. Your bond on a personal injury or workers' compensation if this timing and the advance speed changes.

5 The remaining 20%, some of the bills are paid or are not wrong if you do a financial cushion or reservation.

6 When a third party insurance company to pay the bill, minus 2-6% / month of the financial cushion element will return the cost of the elements. All insurance costs to initially fund (typically $ 1,000 to $ 300), paid more because there is no upfront cost.

Medical Factoring in the beauty of that is determined by the ability of the provider alone to provide access to capital for small or non-bank mortgage provider can bill (invoice) that can generate There is no more restrictive - you factors, growth. Finally, patients in the treatment and a clear understanding of when all heureumga current cash providers can concentrate on the most important!

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