Our Medical Receivables Funding Network has clear, concise underwriting criteria. Our qualification time is minimal and our rates our competitive. Remember ... we charge NO junk fees!
- What is receivable financing?
- How does the purchase of my receivables resolve my cash flow problems?
- What will it cost me?
- Would you become a partner in my practice?
- How is having Cash Flow Network and its Affiliate Medical Capital Network purchase my receivables better than taking out a loan at my bank?
- Is the purchase of receivables considered a short or long term solution?
- If I were to sign on as a client, how long until my cash flow problems disappear?
- Is there a downside to purchasing receivables?
- Why is Cash Flow Network and its Affiliate Medical Capital Network the preferred choice when considering the purchase of my receivables?
- What size practices do you typically fund?
- Are there any hidden fees?
- What is your turnaround time?
- Do you purchase receivables in other industries, or strictly medical?
- How long of a commitment does this represent?
- How quickly can you provide a preliminary indication regarding our working together?
- Which claims are eligible for payment?
- What are the major phases within the process of our working together?
- Do you take over the billing function within my practice?
- What's the quickest way to learn how my practice might benefit from the services of Cash Flow Network and its Affiliate Medical Capital Network?
What is receivable financing?
A.
Receivable financing is when a
primary funding source like Cash
Flow Network and its Affiliate
Medical Capital Network,
purchases your accounts
receivable. You get paid
immediately for the amount of
the receivables purchased, no
longer having to wait the 60-90
days for insurance carriers to
make payments. A fee, or
discount, is generally included
in the transaction.
How does the purchase of my receivables resolve my cash flow problems?
A.
You receive payment immediately
and therefore are able to
utilize the cash in ways that
will strengthen your business;
e.g. advertising, purchasing new
equipment, bringing in
additional personnel, etc.
What will it cost me?
A.
As one might expect, the costs
can vary depending on a variety
of factors including the average
size of the receivable, average
turnaround time, size of the
practice, etc. The only reliable
approach to learning your
specific costs is to provide us
specifics of your practice and
have us determine your cost
based on those figures; in other
words, complete our application.
Click
here for an Application.
Would you become a partner in my practice?
A.
No, but it might seem like it.
The relationship our Medical
Capital Network would establish with
your practice typically lasts
for one year and is renewable by
both parties. Following the
initial purchase of your current
receivables, our Medical Capital
Network
will continue to purchase your
receivables generated for each
successive week. Our role in the
practice would be directed by
you; if you want us to be
invisible, we can be. If you
wish us to be more active with
billing/collections, we can. You
decide.
How is having my receivables purchased better than taking out a loan at my bank?
A. A
significant difference is that a
loan at your bank is reflected
on your balance sheet as debt;
whereas, having your accounts
receivables purchased is a
prudent use of your assets.
Thus, the term asset-based
lending. In addition, while
incurring debt at your bank
requires repayment of the debt
with cash, receivables financing
requires no repayment and no
cash drain. Each successive week
generates new receivables which
we continue purchasing, thereby
providing you with a reliable
stream of cash.
Is the purchase of receivables considered a short or long term solution?
A.
It could be both depending on
how it is utilized. It provides
an immediate infusion of cash,
which solves the immediate
crisis of poor cash flow and
provides for regular cash flow
throughout the course of the
year.
If I were to sign on as a client, how long until my cash flow problems disappear?
A.
Once approved, we can wire
transfer the funds into your
business account within hours of
our decision. This amount would
be the initial funding and
provide you with an immediate
infusion of cash. The subsequent
funding would then occur on a
weekly basis, thereby providing
you with a regular stream of
cash.
Is there a downside to purchasing receivables?
A.
More of a tradeoff than a
downside. What occurs is that
you gain the quick influx of
cash and pay for it with a
slight loss in the total
receivables collected over the
long term. The ability to
utilize the funds while
otherwise waiting for payment
from insurance carriers, places
you in position to better pursue
improvements to your practice-
be they additional personnel,
increased advertising, taking
advantage of cash discounts,
improving your credit rating,
etc. All of these steps would be
impossible without the cash
realized from this process.
Why is your Network the preferred choice when considering the purchase of my receivables?
A.
Unlike other companies, Cash
Flow Network and its Medical
Capital Network does not charge any
upfront fees for processing
your application, performing
on-site due diligence, and/or
other processing fees. Further,
we can fund within as little as
three weeks of our receipt of
your completed application.
What size practices do you typically fund?
A.
Our preferred size practice
bills from $30,000 to $2,000,000
per month with larger practices
being managed on occasion.
Are there any hidden fees?
A.
Of course not. As stated
earlier, we do not charge a due
diligence fee. Each arrangement
is formulated according to
individual factors which taken
together contribute to the
discount for your particular
case. A 2% origination fee is
deducted from the first funding.
What is your turnaround time?
A.
As little as three weeks
following our receipt of the
completed application. We are
committed to getting an answer
back to you as quickly as
possible. If an arrangement is
delayed, often it is due to
additional time for you to get
information to us. The sooner we
receive the required
information, the sooner we can
act upon it. An on-site due
diligence visit is required
prior to the final decision
being reached. This is to
confirm the information
submitted in the application as
well as to perform other due
diligence activities.
Do you purchase receivables in other industries or strictly medical?
A.
Strictly medical, meaning
physician private practices,
group practices, clinics, DME
providers and other providers
within the medical arena. At
this time, we do
not purchase receivables for
dentistry, chiropractic, and/or
optometry.
How long of a commitment does this represent?
A.
One year typically. Frequently,
our clients volunteer to stay
with our Network two to five
years.
How quickly can you provide a preliminary indication regarding our working together?
A.
How does 48 hours sound? We are
committed to responding within
48 hours to those who complete
and submit a
Provider
Application back to us
with the required materials.
Which claims are eligible for payment?
A.
Most third party medical claims
of qualified insurance carriers
with the exception of Workers’
Comp, dental, optometry, and
personal injury.
What are the major phases within the process of our working together?
A.
The first phase is gathering all
the information via the
application packet. Once
evaluated, if accepted, we issue
a Letter of Intent which
outlines the framework for how
we could provide funding to you.
Following our receipt of the
signed Letter of Intent, we
schedule the on-site due
diligence visit and following
that, if accepted, the initial
funding occurs. Subsequent
fundings occur on a weekly basis
as we continue to purchase the
receivables you generate.
Do you take over the billing function within my practice?
A.
Your billing and collections
functions remain under your
control. We can help you with
these functions since our Medical
Network's employees are
experienced in medical billing
and collections.
What's the quickest way to learn how my practice might benefit from your services?
A.
Simply complete the
Provider
Application and fax it
back to us. We will respond
to you within two business days
with a preliminary indication of
how we may be able to work
together.
