Medical receivable factoring freedom to move
Medical receivable factoring is the selling of your receivables for cash now rather than waiting 30-90 days or more for insurance companies to pay you. The main advantage is simple: Available cash on a regular basis.
Receivable factoring provides the freedom to:
- Improve profitability
- Maintain a good credit standing
- Take advantage of discounts for purchases
- Avoid interest and penalties
- Fund expansion and growth plans
- Spend more time specializing
Remember your potential increase in net profits that factoring can provide. A small fee is typically charged for these types on transactions based on the face value of the invoice. The factor prefers a 30 day collection period.