Whether you have a single healthcare practice or tens of facilities and hundreds of millions in yearly receivables, we would love to hear from you.
Dont be shy, Just tell us a bit more about your practice and we’ll work to partner with you on your needs. Don’t like Filling up forms? Then e-mail us at info@godistra.com.
1309 Coffeen Avenue Suite 1200
Sheridan, Wyoming, 82801
invoice@gomyfactoring.com
Following are some of the questions we run into more often so we thought we’d run through some of them here.
This solution can be used by any business that bills private or government insurance programs. Some examples include:
The most important advantage of medical receivables factoring is that it can fix cash flow problems created by slow-paying insurance companies. This common problem affects many healthcare businesses that are growing quickly.
In addition, medical factoring is a very flexible type of financing. The funding can adapt to your business needs simply based on the receivables you would like to sell. This flexibility allows you to control your cash flow and your financial costs.
Medical factoring provides you with quick payments for your medical claims. Transactions are simple. You sell and assign your claims to us, the funder. We advance funds for the claims and hold the actual claims until maturity. The transaction settles when the insurance carrier pays the claims.
Generally, transactions work as follows:
The amounts advanced (in step 2 and step 4) will vary based on the size of your business and the size of the claims.
One of the greatest challenges for companies in the healthcare industry is the length of time it takes to get a claim paid. Unfortunately, very few medical claims are paid quickly. Instead, most medical insurance claims take months to pay. This delay can create cash flow problems for providers because few can afford to wait that long for payment.
This problem can affect healthcare businesses of all sizes. However, it predominantly affects new companies and those that are growing quickly.
Determining whether medical receivables factoring is right for you ultimately will rest on your shoulders. The right medical factor for your business should have a close relationship with your company, have strong communication, and specialize in medical receivables. They should also be able to grow with you as your needs expand.
As one of the leading factoring companies we offer very competitive plans. For more information, get a quote or call (480) 757 2937
Amalgamated Medical, LLC
1309 Coffeen Avenue Suite 1200
Sheridan, Wyoming – 82801
