(PRLEAP.COM) Miami, Florida – Medical supply companies and Durable Medical Equipment (DME) suppliers can now breathe a sigh of financial relief, as medical factoring eliminates the painful 60-day wait to get claims paid by Medicare, Medicaid, and private insurance plans.
Waiting 60 or more days to get claims paid is common in the medical supply industry and can wreak havoc on a company’s cash flow. Medical receivables factoring accelerates the payment cycle, eliminating the 60-day wait – providing the medical supply company with the cash flow necessary to pay suppliers, rent, and payroll. More importantly, medical factoring provides the company with the financing it needs to grow.
“Although the medical supply industry is growing at a nice clip, slow payment cycles are really dragging many companies down,” said Marco Terry, president of Commercial Capital LLC. “Medical factoring provides them with a solution to eliminate slow payments and grow the company to its true potential,” added Terry.
Unlike a business loan, factoring is really easy to obtain. Most factoring companies base their financing decisions on the strength of the client’s receivables and payers. And since medical supply companies and DMEs usually have very strong receivables, factoring is an ideal product for them. Invoice factoring is a great solution for companies whose main challenge is that they cannot afford to wait 60 (or more) days to get paid.
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