Medical factoring through Seascape Capital provides cash flow to health care businesses that are growing rapidly or going through seasonal cycles. It is the factoring of payments owed to you as a health care provider or health-related manufacturing company by insurance companies or government entities. Medical factoring (also called medical receivable financing or medical receivable factoring) allows you, the payee, to receive immediate cash for billings to 3rd-party payers. These 3rd-party payers include insurance companies such as Blue Cross/Blue Shield and PPO’s, as well as government agencies like Medicare and Medicaid.
Medical factoring helps you to maintain proper cash flow to keep up your high level of care, meet payroll, make mortgage or rent payments, expand your business, etc. This stable cash flow helps you to deal with the uncertainty and delays that are frequently associated with receiving payments from insurance companies and government agencies. Seascape Capital will always facilitate your medical factoring in a professional and courteous manner.
Basically, medical factoring involves us paying you within 48 hours of you sending out a batch of invoices. You would receive a certain amount of that invoice up front (typically 75-80%) and the remainder when the invoice is paid, less the fee that has been previously agreed upon. Medical factoring is available for almost any size of company but is typically most cost effective for those companies billing out at least $100,000 per month or, if smaller, in a high growth mode.
Whether you are a leader of a hospital, small clinic, durable medical equipment (DME) supplier, or other medical-related business, medical factoring could be a great fit for you. If you are growing rapidly or need more working capital than your current cash flow provides, please contact us.
|Medical factoring benefits for you include:
How Much Does It Cost For You
The fees charged for providing you with advance funding of your receivables differ based on such items as:
While the process will vary based on individual circumstances, a “typical” scenario entails:
Complete our Factoring Application for more info.