What is Medical Factoring and How can it Benefit Your Company?

Most business owners are familiar with the differences between loans and other lines of credit, but most are unaware of ‘factoring’.

Factoring is a type of financing for different business industries that have cash flow problems because of slow payments. One specific industry that is well-known for factoring is the medical industry.

Medical factoring can assist healthcare companies that bill third parties, such as: private insurance companies, Medicare, or Medicaid. Medical factoring helps lend a hand due to the slow nature of the billing cycle; which can easily cause gaps in cash flow because of the payment process.

Medical factoring is commonly used in the healthcare industry because of the length of time that it takes for claims to be paid. Therefore, medical factoring is beneficial for healthcare providers and medical professionals in order to accelerate their cash flow.

If your company is in the healthcare industry and is struggling with growth and profitability because of the payment process, Xynergy Healthcare Capital can help! Xynergy Healthcare Capital is a nationwide financial company that provides factoring services exclusively for the healthcare industry. Call Xynergy Healthcare Capital today and speak with our healthcare factoring specialists about our Medical Accounts Receivable financing programs.