Congregate Care

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From $100,000 to $3,000,000 (below $100,000 - click)

Congregate care factoring and financing. Due to unpaid invoices, negative cash flow is often an issue for congregate-care facilities. Waiting for payments from insurance companies, Medicaid, Medicare, and other third parties can certainly cause cash flow to stall, affecting business operations in a significant way.

However, factoring your unpaid commercial invoices or funding your Medicaid, Medicare and insurance claims, can solve cash flow problems quickly, helping the business to move forward with confidence. 

GET FUNDING ON YOUR MEDICAL BILLINGS:

• Medicaid and Medicare
• Blue Cross and Blue Shield
• PPOs and HMOs
• Worker's Compensation Carriers
• insurance Companies
• Commercial Customers

WE CAN FUND:

• Congregate Care
• Assisted Living Facilities
• Nursing Homes
• Seniors Housing
• Other Healthcare Providers

SIMPLE PROCESS

Typically we begin with a phone call to understand your specific situation and funding requirements and to answer any questions you may have.

The list of documents required to prepare a receivables funding contract includes:

• Our application is signed by the owner(s)
• Current Accounts Receivable and Payables reports
• List of insurance companies, government payors
• Most recent profit and loss statement and balance sheet

ADVANTAGES

• Clients will be dealing with a direct source of private and institutional funds
• Competitive rates
• Advances on receivables as high as 80% on eligible ARs
• Simple - uncomplicated qualifying process
• Flexible terms. Financing can be structured to fit the business funding requirements
• Lockbox Account

ACCOMMODATING

• We can even assist facilities with certain financial challenges or reorganize in bankruptcy
• Services and solutions can easily be tailored to your specific needs
• Funding is designed to be flexible and grow with the business
• We can help bridge the financial gaps in operating business plans

SUBMISSION PACKAGE

• Signed Application
• Accounts Receivables Report
• 6 Months' Bank Statements

UNDERWRITING DOCUMENTS

• 2 Years of Business Financials
• Profit & Loss and Balance Sheet
• 2 Years of Business Tax Returns
• Copy of Most Recent 941 Filing
• Full Aged AR Reports with Detailed Payer Information by Insurance Provider
• Accounts Payable Aging Summary
• Owner(s) Personal Financial Statement
• Proof of Ownership

HealthcareFactoring is part of a network of strategic partners specializing in funding solutions for medical professionals nationwide with financial services that are tailored specifically for the healthcare industry.

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