Because of the risky nature of the Health industry, service providers get mixed up when the time comes to acquire extra funding. So far, Healthcare Factoring and Third Party Medical Receivables Factoring are the two common forms of account receivable commercial funding available for the medical industry.
But what are the differences between these two products
Medical factoring works just like Trucking Factoring or Staffing Factoring; it involves an Invoice Factoring firm buying a health facility’s Invoices. Some of these Invoice Factors are explicitly meant for one or two industries— like you will find many “trucking only” factors, which cannot assist you if you offer medical supplies, transaction services, nurse staffing or medical supplies, to the healthcare industry. Only a Healthcare only Factor can be of assistance in this case. Though you’ll find that most factoring firms take all these problems in general; they specialize in credit will … Read more