Funding Services
Medical Receivables Funding
With Xynergy‘s medical accounts receivable funding program, our clients receive their cash within 28 to 48 hours with no funding ceiling that will limit their growth. There is a simple application process and fast approvals with processing based on the creditworthiness of their third-party payors (not the healthcare providers credit).
Banks have complicated processes and fee structures for initial loans and credit lines, that can delay needed cash infusion as a healthcare business requires more funding.
Banks generally lend only a specific amount of money and often healthcare business reach their limit more rapidly than they anticipate. In addition, a provider has to begin paying a loan back immediately (whether they use the money or not), and the debt simultaneously becomes part of their balance sheet.
Healthcare Factoring
Xynergy‘s Healthcare factoring program is a type of asset-based finance in which a healthcare provider accelerates its payments from insurance companies by selling its medical claims due from those carriers to a Xynergy Healthcare Capital. This transaction is not a loan and requires no pay back of principal, since the payment due on a purchased claim is paid directly to Xynergy. Xynergy buys this claim in two installment payments the first of which is a large percentage of the claim’s value (typically 70% – 85%) and the balance is paid once the Xynergy has been paid by the insurance carrier. When Xynergy makes the second and final payment on the purchase of the claim, the discount fee is collected from that payment and the balance is then sent to the provider. Fees for factoring are not interest rates. The factoring fee is a discount taken on the purchase of the claim.
Invoice Factoring
When a business needs cash but doesn’t want to borrow money they can turn to Invoice Factoring. Rather than a bank loan, outstanding invoices are sold to Xynergy Healthcare Capital.
When your business delivers goods or services to a client on terms an invoice or claim is created. The average customer may wait 20, 30, or even more days, before paying the invoice.
Rather than wait for payment, your business can receive an immediate advance on the face amount of the invoice from Xynergy Healthcare Capital.
Normally Xynergy issues the advance and keeps back a portion in reserve. When the invoice is paid the reserve is released, less the factoring fee. There is no interest or loan fee charged as the process involves the assignment of an invoice rather than the creation of debt.
Healthcare Providers Finance
Our experienced leadership and processing teams are involved in the healthcare business and industry in the daily basis. We know your business, we know healthcare
Because we are a funder, not a lender such a bank, our program are designed to provide growing healthcare providers with debt-free working capital by unleashing the power of your largest single asset –medical accounts receivable- and making it work for them.
Healthcare Providers clients utilize an immediate cash infusion to purchase ne equipment, increase staff and payroll, expand existing facilities, and even fund the construction or purchase of a new building.
Medical Claims Financing
Reducing the interval between treatment and reimbursement.
The Medical Claims Finance Program allows providers to have a stronger cash position in a very demanding working capital industry. Adding our program to your strategic plans your organization immediately increases its purchasing power, reduces debt, and never has to worry about funding its everyday operations., Cash availability for overhead and payroll, technology and software upgrades, rent, taxes, commissions, leases, as well as business expansion eases daily tension and helps to you’re your business.
A/R Finance for Medical Providers
Accounts Receivable Finance for Medical Providers is one of the most convenient and flexible financing options available at Xynergy‘s portfolio. , Account Receivable (A/R) Financing for Medical Providers is an ideal solution for your short-term cash flow needs.
Accounts Receivable Finance is an asset-based financing arrangement in which Medical Providers use their receivables or claims as collateral in exchange for cash.
Accounts Receivable Financing for Medical Providers is a means for clients to accelerate cash flow by financing their open claims. The provider receives cash in advance of payments due from the insurance carriers, typically within 30, 60 or 90 days, providing needed capital to meet operational overhead.
Medical Claims Factoring Loans
Xynergy Healthcare Capital specializes in offering flexible accounts receivable factoring loan solutions for fast-growing established healthcare providers. Different type of providers that need fast cash should consider applying for a Medical Claims Factoring Loan.