Have you ever known of a situation in which the Federal Government intervened in an industry through regulation or in any other way, and as a result of such intervention, the industry became more efficient?
If you can’t think of any off hand it’s because it hasn’t happened. The most recent example of such inefficiency has been the “cash for clunkers” program.
This program started almost two years ago (July 2009) and many car dealerships are still awaiting payments! The government stepped into the healthcare industry some 45 years ago and things have regressed to what we have today; and inefficient, overregulated, underfunded, bureaucratic nightmare soon to be encumbered with more regulations and less financial infusion….results…medical professionals can’t get paid efficiently or sufficiently.
Borrowing and/or Factoring are the only solutions to get cash flow moving.
On a grandiose scale, factors and other finance organizations seek to bring on clients with a monthly funding facility requirement well over one million dollars. Wells Fargo, CIT, Textron GE, and other huge commercial lenders have their “pick of the litter” when it comes to these higher volume potential clients (borrowers). In many occasions medical providers generating over one million dollars per month in receivables have credit profiles sufficiently strong for a bank, and if not, certainly strong enough for a non-bank asset based lender. Therefore the question can be posed; as a financial intermediary, factoring broker, referral agent..etc…how can I find the best way to participate in the ever-growing healthcare finance market?
Flying way below the radar of the massive lenders cited above, are the modest sized medical providers such as durable/home medical equipment providers, home health providers, single or multiple physician practices, imaging centers, dialysis centers, labs, ambulatory surgery centers, drug dependency and rehabilitation centers, physical rehabilitation centers, urgent care clinics…and a plethora of others. These modest healthcare providers ARE the opportunity to develop a good business as a factoring broker referral source. Who among the finance community would entertain a factoring transaction as small as $25,000 per month in volume, up to $400,000 (or higher)? In the highly specialized field of healthcare finance, Factors with sweet-spots of $100K-$300K are very few.
We at Xynergy Healthcare Capital LLC (XHC) have been in the healthcare factoring industry for over a decade and our team members have been some of the first pioneers in healthcare factoring. XHC is a new name, but, with highly experienced professionals.
Focusing on the modest sized providers as listed above, XHC wants to be your first call when you’ve found a prospect. You find the interested provider, set up the conference call and XHC takes it from there. You can participate as little or as much in the process as you want….but the industry pro’s at XHC will do that first conference call to correctly and positively explain the process and qualify the prospect.
No up-front fees, all underwriting costs taken from first funding. Factoring Broker kits are always available. Stepping into a new market may be uncomfortable; however XHC will hold your hand through it all. This industry is ready for explosion, join in with us.
For more information contact Fred Leder of Xynergy Healthcare Capital at (954) 489-6460 or by email at fleder@xynergyhealth.com.
About the Author: Fred Leder, a name well recognized in the healthcare finance industry, has been actively involved in this highly specialized niche for over a decade. Following fifteen years as a fixed income securities trader with a regional securities dealer firm. Leder joined and helped build Sun Capital HealthCare Inc. in Boca Raton Florida, and remained there over ten years until starting Xynergy Healthcare Capital LLC in early January of 2011. He has been guest speaker at numerous medical industry conferences, to include, The Florida Medical Association, Wealth Management Group of the Florida Bar Association, Hospital Finance Management Association, MedTrade, Florida Association of Certified Public Accountants, many ACFA Conventions, and regional training and educational seminars.