What is Healthcare Receivables Financing?
As you very well know, there is always a gap between when you submit claims for your services to a third party payor and when you get paid. This happens with your clients’ insurance companies, Medicare, Medicaid, and with your other business-to-business clients. This can put a strain on your cashflow and make it difficult to manage your revenue cycle.
Your accounts receivable is the lifeblood of your healthcare business. Because of this, we can provide you with immediate working capital simply based on your net receivables.
How does healthcare receivables financing work?
We work with you to sell your claims to our partner. You receive 80% to 90% of the net claim amount upfront. Our partner then submits the claims to the insurance company, Medicare or other third party. After the payor’s typical processing time, they pay the full amount to our partner. You then receive the balance (10% to 20%) of the net claim minus the interest on the advance.
There are no monthly payments associated with accounts receivable financing. Therefore it provides you with reliable cash flow, but it does not add any debt to your balance sheet.
How do I qualify and what will it cost me?
It is easy to qualify because the underwriting is focused on the insurance company or third-party payor’s credit and not on yours. There are therefore only few qualification requirements and a lot of flexibility.
Once approved, you can receive funding within 24 hours. You can then customize your options to make this a steady predictable revenue source.
The financing cost is on the 80% to 90% that is advanced to you upfront, and it can be as low as 3%.
Unleash the power of your receivables today
We finance receivables from $100,000 to $35,000,000
Who can benefit from healthcare receivables financing?
Any healthcare service provider who bills insurance companies, government programs, or other businesses for their services can benefit from this.
These include:
Hospitals | Medical and Dental Practice Offices | Surgical Centers | Urgent Care Facilities | Telehealth services
Assisted Living Facilities | Nursing Homes | Rehabilitation Centers | Senior Living Facilities | Home Healthcare Agencies
Ambulance and other Medical Transportation Services | Diagnostic Labs | Imaging Facilities
Pharmacies | Medical Supply Companies | Healthcare Staffing Agencies | Medical Billing Companies