Account receivables financing is something that’s available to companies across many different industries, which leads many people who visit our website to wonder why we’re so specifically focused on the healthcare field.
It’s true that The Commercial Finance Group is a trusted leader in healthcare receivables finance in the Atlanta area. We believe that this industry faces additional challenges when it comes to the maintenance of cash flow as well as financing options.
Financing Challenges Faced By The Modern Healthcare Industry
- Rising operational costs
- Time required to manage government regulations
- ICD-10 billing coding system
- HIPAA compliance
- Rising malpractice insurance premiums
- Increased patient co-pays and deductibles since ACA
The combined effect of these and other financing challenges means that cash flow problems have become more prominent for those in the healthcare industry. So what options do you, a medical provider, have when the going gets tough?
Financing Options For Medical Providers
- Conventional Bank Loans – While it’s the first place that many medical providers turn for financing, it’s often the last place that they find it. Conventional bank loans move slowly and have tight credit requirements.
- Merchant Cash Advances – Also known as ACH loans, the number of companies offering these advances is growing exponentially. While available rapidly, these loans are very expensive and require daily payments.
- Healthcare Accounts Receivable Factoring – This financing option offers many benefits for medical providers, including low credit requirements, more available capital, and lower fees.
If you’re a healthcare company looking for financing options, please don’t hesitate to contact The Commercial Finance Group about account receivables financing.
