What Is Medical Receivable Funding?

Medical receivable funding is a means by which the health care provider receives immediate cash for his/her billings to third party payors (i.e. commercial insurance companies, HMO's, Blue Cross / Blue Shield, Medicare and Medicaid). The funding source purchases your billings at a discount and collects payment from third party payors.

Benefits of Medical Receivable Funding

The dismantling of the health care system over the past decade and the dramatic shift in the financial structures of all health care providers - from hospitals to the private practitioner - have placed providers like you in a precarious position.

The long delay between the time you perform a medical service and the time you are ultimately paid, coupled with a bureaucratic and very cumbersome third-party billing structure, wreaks havoc on your cash flow.

While many industries are very familiar with the use of accounts receivable funding to improve the consistency of their cash flow and increase their bottom line, the overwhelming majority of health care providers have never heard about this service, and do not realize what accounts receivable financing can do for them.

There are several very important reasons for you to take advantage of this funding:

Benefits of Outsourcing Your Medical Billing & Collections

Poor in-house billing procedures can result in lengthy delays or even lost revenue due to mishandled billings (wrong ID# typed in, wrong diagnostic code used, etc.). In addition, third-party payors sometimes make mistakes, and with on checks-and-balances system in place, fees are lost.

To eliminate the all-too-common billing and collection problems that health care providers like you experience, we have established a comprehensive new service that can handle your entire billing and collections function, such as invoicing, providing you with "real time" read-and-print access to your patients’ accounts, verifying insurance coverage, managing the collection of your accounts receivable - including "chasing down" unpaid invoices, financial reporting and advising on fee setting and on payor mix changes and trends.

Benefits of Medical Equipment Leasing

If more health care providers were aware of the advantages of medical equipment leasing, they would probably lease all their equipment - everything from a single office copier, fax or computer to millions of dollars worth of medical scanners, lab equipment, dialysis machines, examination tables, scales, etc.Medical Equipment Leasing:

• Conserves your working capital. When you lease equipment, there is no down payment. Since you make only monthly payments, you conserve working capital that can be used more profitably for short-term needs.
  
• Preserves your line of credit. When you lease equipment, you do not run the risk of exhausting your valuable lines of credit by making a major purchase.
  
• Provides 100% financing. With leasing, you do not have to compromise or settle for less than you really need, because you may finance up to 100% of your equipment cost, including freight, installation and some incidental charges.
  
  
• Provides flexible payment terms. The extended terms of leasing help you stay within your budget with monthly, quarterly or annual payments that can be substantially lower than they would be if you purchased equipment with borrowed funds.
  
  
• Provides a variety of tax-saving benefits. Unlike loan payments, lease payments may be fully deductible as an operational expense.
  
  
• Offers low acquisition costs. With leasing, your capital requirement is low - usually only one or two advance payments.
  
  
• Eliminates equipment obsolescence. Leasing allows you to regularly upgrade your equipment to the state-of-the-art level in order to keep up with today's ever-changing technology.
  
  Who Can Benefit From Those Medical Financial Services?
  
  Health care providers who can benefit from these medical financial services include those who provide any medically related service where commercial insurance companies or government insurers are the debtors. Examples include, but are not limited to:
  
• General Practitioners and Specialists, such as
      * Dentists
      *Chiropractors
      *Psychiatrists
      *Surgeons
      *Anesthesiologists
      *Optometrists