help desk software

FAQs

What type of medical provider does Xynergy fund?

We specialize in providing funding to growing, successful healthcare providers, as well as pre/post bankruptcy clients nationwide who are looking for alternative financing solutions for their medical business. Healthcare providers and suppliers have benefited from medical accounts receivable finance by upgrading technology, expanding services and renovating facilities. They include nursing homes, home healthcare companies, rehab clinics, pharmacies, home medical equipment (HME) providers, MRI and imaging centers, clinical laboratories, dialysis centers and others with medical receivables and claims payable by Medicare, Medicaid, HMOs, and private insurance.

Do I need Medical Accounts Receivable Finance?

Yes. For growth or survival. This program can be used for purchasing new medical technology, expanding an existing medical practice, hiring additional staff, purchasing inventory or renovating facilities. It can also be used for cutting costs by taking advantage of pricing terms from suppliers.

Is Medical Accounts Receivable (MAR) Funding a loan?


No. Medical accounts receivable finance is the sale and purchase of an asset at a discount. Unlike other methods for financing a medical business, you incur no debt on your balance sheet, and the net result of each transaction will be the conversion of your medical receivables or claims into cash.

What will it cost me to sell my medical receivables?

A small percentage of your net revenue (from claims submitted) to accelerate your cash flow.

How soon will I get the funds once I sell my claim?

You will usually receive your funding advance within 24-48 hours of submission of claim.

Do I have to sell all of my claims?

The XYNERGY Program is very flexible you can choose which claims you select for funding, how often you want to fund, and which payor’s claims you want to fund.

Is Xynergy’s medical accounts receivable finance program the same as commercial factoring?

They are similar but not the same. Both involve the purchase and sale of an organization’s accounts receivable, and neither incurs any debt. While, the process for commercial factoring and medical accounts receivable finance is similar, there are distinct differences:

In our program, since the payor of the claim is Medicare, Medicaid or an insurance company, funding is based on the net collectible amount of the claim taking into account the contractual arrangements between the healthcare provider and each payor. Determining the valuation of the claim requires extensive knowledge of the healthcare industry because payments vary for each payor and for each treatment, product or service provided.

In commercial factoring, funding eligibility is primarily based on the credit and track record of the factored company’s customers.

What is claim-by-claim funding? (What we do)

Claim-by-claim funding is a process that funds each claim individually. The net collectible amount is determined for each claim depending upon the payor. The result is more funding and flexibility for your medical business than is available from other financing solutions.

What is batch funding?

Batching is a process in which a group of medical claims or A/R are funded as a single unit. The discount rate applies to the entire batch and fees continue to accrue until the entire batch is collected. XYN does not batch because it results in less funding and flexibility for the healthcare provider.

Can I fund Medicare/Medicaid claims?

Yes.

What if I have bad credit?

Your approval for this program is dependent upon the creditworthiness of your payors, not your credit.

Do you fund self-pay receivables?

No.

Do you have a minimum volume per month?

We review each transaction on a case-by-case basis.

How are your discount fees determined?

The discount fees charged depend on: a) number of days outstanding and b) monthly volume (dollars billed)

What is the initial advance?

The amount of funds you initially receive when we purchase your claim. The balance (the reserve) is returned to you less the discount fee when we collect.

What are the advantages of working with Xynergy?

Our commitment to client satisfaction that makes us an industry leader with the resources and experience to help you successfully fund your healthcare business without the hassles that normally go with debt financing.

With Xynergy you have:

  • A streamlined application and approval process
  • A qualifying audit that offers you value-added benefits
  • Customized claim-by-claim funding that puts you in control
  • Cash infusion within 24-48 hours of submission of claim to Xynergy

How do I get started?

Call us at (855) 358-8258 or request more information or an application  apply filling the form below or send us an email to info@xynergyhealth.com. We will be happy to answer your questions and send you an application. There is no fee to have us review your application and receive a proposal.