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If you work in healthcare or serve the healthcare industry, you probably know how tough it is to wait for payments on your invoices. Each company has its own billing rules, and there are government rules for getting paid by Medicaid or Medicare.
It can take forever to get paid. If you’re waiting so long, it can make it hard for healthcare providers to pay their bills on time. That’s why we provide you with Lawsuit loans.
Lawsuit loans for medical bills can help you a lot by giving you quick access to money. This way, healthcare providers can handle their costs while they wait for settlements. Let’s talk about how you can get a Medical Receivables loan!
Medical receivables factoring is when healthcare providers sell their unpaid bills to a special money lender. This process gives quick money into the healthcare provider's pocket.
The lender gives most of the money upfront, usually between 70% to 95%. When the bills are paid, the provider gets the rest, minus a small fee.
Healthcare providers start by filling out an application for medical receivables factoring.
The lender carefully looks at the application and talks with the provider to decide if they qualify.
If the provider meets the lender's requirements, they finalize the deal, and the process begins.
The provider hands over the outstanding accounts receivables listed in the agreement.
The lender gives a set percentage of the value of each submitted account right away.
With the extra money, providers can cover daily costs and handle important business matters.
The lender takes over getting payments from the receivables.
After collecting all the money, the lender gives the remaining profits to the provider, deducting the agreed fee.
Providers get money quickly, easing financial pressure and keeping their business running smoothly.
Factoring companies offer you more flexible terms than banks, making it easier for providers to manage their finances.
Factoring companies know a lot about medical billing and collections, helping providers handle their money better.
Providers can get more money as they send out more invoices, supporting their business growth.
With financial help from factoring, providers can focus more on taking care of patients and making their business run better.
At Maximum Funding, we’re here to help healthcare providers. We offer specialized loans for medical bills, made to suit the needs of each provider.
Our simple application process makes it easy to get the help you need. So, you can keep serving your patients and growing your business without any financial worries. Contact us now to know more!
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