Accounts Receivable Factoring: Funding Solution for Medical Coding Companies Video

Accounts Receivable Factoring: Funding Solution for Medical Coding Companies Video


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.

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