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Even though there are signs that the economy is on the rebound, it’s still tough for
small businesses to find financing, so banks remain steadfast on lending criteria and credit
card companies continue to raise interest rates and decrease limits. So, you’re a
medical coding company, and how do you weather all this? Medical Coding Factoring.
So what is factoring? It’s also known as invoice funding. It’s basically the process
of converting company’s AR into money by selling invoices to a factor at a discount.
So factoring is useful for medical coding companies because your customers expect prompt
delivery of your coding services, all while extending their payment terms. So by you factoring
invoices, you basically bridge the gap, which increases your cash flow, all while not increasing
any debt.
So as a medical coding company you provide your coding services on a daily basis, yet
you typically don’t get paid for weeks from your facility. Waiting for money can make
it difficult to meet financial obligations on a timely manner, so selling your invoices
to a factor is a speedy solution to help you fill this cash flow gap.
The factoring application process is quick and easy. Basically all we need to do at first
is review an invoice aging, and review an executed application. Once everything’s
approved, you can receive money for your invoices in just a couple of hours. Go to prnfunding.com
for more information.