The healthcare industry contributes approximately $1.3 trillion per year to the Gross Domestic Product according to a report by The Health Care Financing Administration, making it the largest industry in the country.
As our population continues to grow and become older, there are increased demands for services by healthcare providers. The healthcare industry is not only experiencing extensive growth, it is evolving constantly, creating a need for trained personnel, specialty supplies, expensive modern equipment, and expanding facilities. Constant changes and rapid growth have created a tremendous demand for cash flow.
Many healthcare providers struggle to set new financial goals due to rising industry costs and cutbacks causing financial stress and unpredictable cash flow. Perpetual changes in the reimbursement process for medical claims through third party payors such as government and commercial insurances also contribute to the financial strain and uncertainty in the healthcare industry.
Healthcare providers can now take comfort in knowing that the remedy for anemic cash flow blues is accessible to them. The cure is medical receivables funding. While other industries have successfully used receivables funding for many years, it is a relatively new concept in the healthcare industry. Healthcare providers can benefit from operating, expansion and acquisition financing to grow the business and increase their bottom line.
Healthcare providers including Physicians and Physicians Groups, Hospitals,MRI Facilities, DME’s, Diagnostic Labs, Nursing Homes, Staffing Agencies, Physical Therapy, Clinics, Pharmacies, Dialysis Centers, Medical Transport, Ambulance Companies, Radiology and Day Surgery Centers, just to name a few may be eligible for funding.
The largest asset of most providers is their account receivables, yet banks typically do not lend money on accounts receivable. Not only does receivables funding provide working capital and flexibility, it also strengthens the provider’s financial posture. Medical receivables funding is considered as an “off balance sheet” transaction and thus will not create any additional debt. The practice of selling your receivables will create unlimited growth potential. The more you generate, the more cash will flow in your direction.
Consider seeking assistance from Diversifed Cash Flow Specialist. Diversified Cash Flow Specialist are generally compensated directly by the funding source and they will place your business with a nationwide funding source.