Often, those new to our company and this area of business in general question why they should even bother with contacting Xynergy Healthcare Capital over a traditional loan. What many people fail to understand is that healthcare factoring is not a loan at all, and in fact superior in many ways to a loan of any kind.
Healthcare Factoring Pays You First
The primary advantage of healthcare factoring is getting capital to keep your business running when you need it, not when the insurance companies get around to paying it. As opposed to lending you money to be repaid with interest, Xynergy simply buys your accounts receivable, minus a discount, and holds them until they reach maturity. Once we collect on the invoices that we’ve purchased for you, you are rebated the remaining amount of the account minus our fee. The important parts of this process to you are two points: first, you have a stable income that is paid much faster to you, ensuring that you can pay operating costs and have more opportunities for growth; second, you avoid impacting your credit with a loan on your statements and can maintain a much healthier looking budget.
Healthcare Factoring Preserves Your Credit
In business, credit can be everything. It’s essentially your business’s reputation, and any dings to your credit rating can take ages to be resolve or work past. Better instead to avoid possible negative effects to your business’s credit rating in the first place. If you choose to work with Xynergy Healthcare Capital for your healthcare factoring needs, then you won’t have a loan on your records; you’ll have a sale. We take on the burden of waiting for payment so that you don’t have to, and you don’t have to worry about the twofold problem of a loan payment breathing down your neck coupled with your credit score riding on the line. When we look at accepting a client for healthcare factoring, we look at the payors’ credit instead of yours – because it’s not you who should have to worry about ensuring payment for services rendered.
Healthcare Factoring is Flexible
Another advantage of working with Xynergy Healthcare Capital is that we offer healthcare factoring on a claim by claim basis. You decide which of your claims you’d like to offer us to purchase, and based on the credit of the payors involved, we make approvals on an individual basis to offer the best deal for both parties involved. We take on claims we view as good investments but don’t tether you to chasing after others to satisfy our business arrangement, as opposed to batch processing claims.
Often, many of our clients are new businesses or businesses that are looking to expand their operations – both of whom cannot afford to be waiting long on payments from insurance providers. If you’re having trouble maintaining a steady cash flow to run and expand your business, don’t settle for the fast cash infusion of a loan and ding your credit; contact Xynergy Healthcare Capital today and get the money you need now.
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