One of the best ways to stretch your money when it comes to being a healthcare provider is to invest in more modern healthcare technologies. While the initial cost forces you to take a hit to your income, the benefits are both numerous and profitable. If your technology is uncommon, especially for your area, you’re guaranteed clients that need that specific technology. Even if you aren’t attempting to corner a market, anything that makes visits faster or more enjoyable for your clients means that you both secure their loyalty and their recommendations to others that may have need of your services.
The many benefits that come with healthcare investing, especially in new technology, means that the new trend in venture capitalism of investing in healthcare startups is good news for everyone in the business. While you may not have the funds to shoulder a healthcare startup, you can still reap the benefits of them being able to get their legs in what can be a very unforgiving market. The reason that more healthcare startups are able to get a fighting chance in the market is thanks to being able to trade their equity for the investment of space and resources. Most healthcare providers (mainly independent ones or small practices) don’t have plenty of resources on hand to lend them out to startups, but for medical practices large enough to take a potentially small hit in production for potentially extremely valuable equity, the benefit is twofold. Not only do they get the chance to reap the fruits of their investment, but the entire industry could likely use the advancements provided by a healthier investment market.
What it comes down to is the investment of strategic capital in addition to labor instead of the traditional capital. This is where even smaller practices can have a chance to get a cut of the pie. By providing medical data, or staff that are able to manually assist with what a startup needs, a small cost can yield large returns for you and your industry. While venture capitalists can risk more dollars and don’t have to get their hands dirty with the actual operation of these startups, you can do the opposite and save money in the long run, perhaps even earn more money than you would be able to earn from a straightforward investment of cash.
Of course, more often than not, in this industry money can be tight. Between managing payments from multiple sources and trying to predict trends in the industry as a whole to figure out your billing, many independent practices don’t have any extra resources to contribute. That’s where a healthcare capital company like Xynergy Healthcare Capital can help; we or any of our peers in the industry can turn accounts receivable into cash, so that you can get to investing in your company faster, whether it’s simply paying your bills or going so far as to invest in this burgeoning healthcare startup market.
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