Whether you are a new business or a developed business, your growth can be compromised by limited funds. In the healthcare industry cash flow takes longer because most invoices stay open for 30-120 days until a third party provider remits payment. But healthcare factoring can help your medical company grow by offering a strategic funding resource.
Medical factoring can accelerate your business’ cash flow by:
- Building (or rebuilding) your business’ line of credit. When you apply for factoring your company is approved based on the customers’ credit history, this means your credit report is never impacted. Factoring also allows for same-day funding which can be used to pay off old debt and stay current on monthly expenses.
- Allowing full authority over operating costs. Healthcare factoring does not require a minimum or a maximum for factoring, this gives you the ability to choose which invoices you want to factor and which ones you do not. The flexibility allows you to decide where you need the cash, how much, and when.
- Helping your company reach its potential. The old saying “it takes money to make money” is true. By partnering with a medical factoring company you can allow your business to take on larger projects, purchase more supplies, and test incentives and marketing efforts that you previously could not afford. By improving your business’ cash flow you can drive more sales. Factoring can be the first step in solving your cash flow problems and be the final leap in growth that your business has been waiting for.
Healthcare factoring can turn your medical accounts receivables into working capital. Xynergy Healthcare Capital is a nationwide financial services company that provides factoring programs exclusively for the medical industry. Learn how our medical factoring programs can help you grow today, call 855-358-8258 to speak with a factoring specialist.
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