There are two different kinds of healthcare companies that can benefit from what's commonly referred to as healthcare factoring and/or medical factoring. Both types of healthcare companies make ideal invoice factoring candidates because both routinely bill creditworthy slow-paying customers.
The first variation of the medical factoring model involves entrepreneurs who own a service-oriented business within the healthcare industry. Specifically, medical transcription services, medical supply companies, medical staffing agencies, temporary nurse registries, outsourced medical coding companies, medical billing services, etc. can all benefit greatly by factoring their invoices.
MEDICAL RECEIVABLE FACTORING
On the other hand, medical receivables factoring includes a third party payer (i.e. Medicaid, Medicare or private insurance company) within the medical invoicing process. Worldmine works with experienced Factors that specialize in funding medical deals. By factoring medical receivables, the medical provider is the one who benefits. Moreover, the medical factoring process is as follows:
Real Estate Financing