Medical Receivable Factoring

If you can't wait up to 90 days to get your claims paid, medical receivables factoring can help. Medical receivables factoring can get your insurance claims paid in less than 24 hours. Setting up a factoring service takes 5 to 10 days and most healthcare companies, established or start ups, can qualify.

Are your billing providers:

Commercial Insurance	HMO/PPO
Managed Care	Medicaid
Medicare	Private Insurance

Or other commercial payors (i.e. some DME companies will be paid by assisted living facilities or other medical companies. Medical receivables factoring can be used by many types of health care providers, including

Ambulance and Medical transport companies	Independent physician associations
Associated medical groups	Laboratories
Clinics, Drug counselors, Drug & Alcohol treatment centers and behavioral health clinics	Medical centers
Day surgery centers	Medical staffing
Dialysis facilities	MRI centers and other diagnostic centers
Durable medical equipment suppliers	Nursing homes and Assisted living facilities
ER management companies	Pharmacies and Pharmaceutical companies
General practitioners and Group Practice Physicians	Physical therapy groups
Home healthcare companies	Radiology centers
Hospitals and Outpatient Facilities	Rehabilitation-physical therapy companies
Internists and Surgeons	Walk-in centers

Medical Factoring is simple to set up and implement. The most important consideration to consider is that the factoring financing line is based on your net collectibles rather than your gross collectibles. Net collectibles is the amount that the insurance company actually pays for the claims.

Medical receivables factoring works as follows:

1. You submit your claims to insurance companies, HMOs and Medicare/Medicaid. Whether you have In-House Billing or Outsource to a billing company, we work with both.

2. You submit copies of the claims to us (the medical factoring company)

3. We advance you up to 85% of your net collectibles (a reserve of 15% is not advanced to offset discrepancies)

4. You get immediate funds while we wait for the claims to get paid

5. Once the claims are paid, the transaction is settled and we rebate any remaining reserves. Funds can be paid either via check or direct deposit/EFT

Medical receivables factoring cost:

The cost of factoring your medical receivables is based on the volume of claims that you decide to finance and on how well your business is run. Generally, if you finance a high medical claim volume you will qualify for lower rates. Medical receivable factoring rates range from 1.5% to 3.5% per month.

Request a Medical receivable factoring quote today