Lending and Finance Options for Companies in Medical Receivables
Businesses that provide medical services, as well as healthcare workers who operate independently, often must wait weeks or even months to get paid. When you’re running tis type of business, you’re basically depending on your clients to pay you on time. This can result in cash flow problems. An effective solution to this situation is medical receivables factoring.
Invoice factoring allows you to sell your accounts receivable for immediate cash. You no longer need to wait 30 – 60, or sometimes 90 days for your customers to pay.
With medical receivables factoring, your business sells unpaid invoices to a third-party factoring company such as Riviera Finance. There are several key benefits to factoring.
Factoring works for many types of businesses in the medical sector, such as:
Maintaining healthy cash flow is one of the biggest challenges of any business. Let’s look at how you can boost your cash flow with telecom factoring.
There are many ways to fund your business. However, factoring has some key advantages over other common financing options. For example, it’s common to apply for a line of credit from a bank. To qualify for credit, you’ll need to show the bank your assets, which include cash as well as equipment. Smaller and newer businesses often have trouble getting enough credit to meet their needs.
ACH and MCA loans are another option you might consider. Automated clearing house (ACH) and merchant cash advance (MCA) loans are usually easy to qualify for. The downside is that interest rates and lender fees are very high. This can lead to a downward spiral of debt that makes it hard to run a profitable business.
There are a few steps involved if you want to factor your medical invoices.
Riviera Finance works with a variety of companies in the US and Canada to help them maintain cash flow and meet weekly financial demands.
Our process is built around immediate response to client needs, and the best cash turn around in the industry.
Receive Credit Checks on Your Customers
Competitive Rates and No Hidden Fees
No Debt is Created
Riviera takes on all the credit risk!
Complete the form for a Free Consultation.
The main requirements to qualify for medical factoring are as follows.
Any business that provides a service in the medical sector should consider medical receivables factoring to improve cash flow and achieve greater financial security.
Riviera Finance is a leader in invoice factoring with more than 50 years of experience working with companies like yours. Our professional, experienced team combined with our online tools makes managing your cash flow and accounts receivable simple. Here are some of the services we offer to help you grow your business while enhancing your cash flow.
Factoring for medical receivable providers can make a big difference in helping your business improve cash flow, meet expenses, and continue growing. To learn more about how you can benefit from medical receivable factoring, contact Riviera Finance today.
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