Factoring companies engaged in the business of purchasing accounts receivable are called “factors.” Healthcare providers selling their accounts receivables in the factoring transaction are referred to as “sellers.” The seller’s customers, who are in some instances the patients receiving healthcare services from the provider, and in others insurance carriers or government payers, are generally referred to as “account debtors.” The cash which a factor disburses to the seller as payment for the accounts receivable for services rendered to the debtor are typically called an “advance.” Why is medical receivables factoring advantageous?įactoring receivables is an attractive option for healthcare providers in that it involves the transfer of an asset rather than a loan of money. The term “factoring” refers to the outright purchase and sale of accounts receivable (“A/R”) invoices at a discount from a provider’s full billed charges. You know the status of every invoice at the click of a mouse.Healthcare factoring, sometimes called “medical factoring” or “medical receivables factoring,” provides instant capital to medical providers, including, physicians, medical practices, diagnostic and imaging facilities, nursing homes, hospitals, home health care companies, and surgery centers to fund ongoing business operations. Your company gets online access to lookup your customer's payments. We also provide you with free back-office support and manage your collections on invoices that you factored for your Fullerton company. We’ll send your invoice to your customer as well as collect the payment from your customer. Upon verification your invoice proceeds are sent to you, typically within 24 hours for returning customers. Next, you send us your invoice and supporting paperwork. First, you deliver your order/service to your customer. Once you are setup for factoring you get funded in 3 easy steps. The factoring process is online and designed to be as easy as possible so that your business can thrive. We charge a small fee for our invoice factoring service, but there’s no debt and no interest. Of your customer's credit and their ability to pay their bills, not yours. So how does our invoice factoring company program work? Unlike a bank we focus on the strength Our purpose is to build a strong relationship with you and protect your company against risky customers, keeping your Fullerton business profitable. You could end up buying back invoices from customers who could have been avoided in the first place. Other invoice factoring companies may not be in it for the long haul and every step of your company's journey.įor example, some invoice factoring companies will continue to purchase your invoices because they don’t have the ability to see trouble ahead. We have your company's best interests and success in mind. Also we have no factoring minimums and transparent factoring fees. We have a long list of happy invoice factoring clients, our average client has been with us over 4 years, which is unique in the invoice factoring industry.Ĭompared with the other invoice factoring companies, we have the highest factoring advance rates. More than half of our new invoice factoring business comes from current customer referrals. Rest assured we will be here for you when times get tough. We have survived many of the economy's roller coaster rides and in having done so, can lend you a helping hand in hard times. We have been in the invoice factoring business for over 40 years, are independently held, and have a proven track record of being FINANCIALLY SOLID. ![]() Over 40 Years in the Invoice Factoring Business Is the Right Choice for Your Fullerton Companyīefore you decide if we are the right invoice factoring company for you, let us tell you a little about us and how we stand above the other invoice factoring companies.
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