The term “medical factoring” can be interpreted several different ways but essentially it is factoring that deals exclusively with invoices that are “medical” in nature.
For example, medical providers (such as doctors or those that sell medical supplies) may have to wait up to 90 days to get paid by an insurance company, HMO, or Medicare/Medicaid. These cash flow issues present the same challenges as traditional, non-medically related, companies.
When medical providers utilize factoring they often receive their “advance” from the factor in as little as 24-48 hours. This allows them to better manage their cash flow, increase their business, and not take on additional debt.
If you are in need of medical factoring, you will want to seek out a factor that specializes in that area.
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