Medical Receivables Financing
Running a business involved in providing medical and healthcare services is challenging enough as it is. But with complicated billing procedures now being forwarded by third-party healthcare payers, collecting money that’s actually owed to your business has become even more painfully slow.
Of course, there’s always the option to seek monetary assistance from traditional banking institutions. But most of these lending institutions have very strict criteria. This makes it difficult for many professional health care operations across the country to qualify to receive financing, working capital, or medical equipment loans.
Medical Receivables Financing vs. Loans from Medical Financing Companies
Medical receivables financing, otherwise known as medical factoring, differ from typical monetary assistance provided by lending institutions. Unlike a loan, Medical receivable financing places more importance on a the value of an enterprise’s aged receivables and potential for earning, rather than its past business performance. With medical receivable financing you are selling your medical invoices for immediate cash you are not taking out a loan.
A Faster Way to Get Working Capital
Healthcare practices and medical institutions typically wait anywhere from 30 days to 90 days to get paid. They are often forced to resort to taking out business loans from medical financing companies to generate the resources that can ensure continued operations. These loans can take anywhere between 30 and 60 days for approval and funding. But with our medical receivables financing, you have an immediate source of capital and you no longer have to wait to get paid. By using our medical receivable financing service you can receive funds in as little as 24 hours if you are an existing client.
No Availability Limit
Medical financing companies base their loan amounts on an enterprise’s past financial performance, repayment history and tax returns. You will need stellar performance and great profitability to be able to be approved for these loans and to qualify for significant funding. This won’t be the case with our medical receivables financing services. As long as your business is generating invoices, you have access to the capital you need and we won’t put a cap on how much you qualify for.
With Aurelian you will be working with highly experienced medical lending and financing advisors who are experienced in all areas of healthcare operations. Most of our business development officers have owned and operated multi-million dollar companies across all market sectors. With virtually unlimited lending capital, you can be certain all your enterprise’s financial needs, no matter how big, can be readily attended to by Aurelian Commercial Lending.