Top Five Reasons For Medical Supply Companies to factor their accounts

However, Factoring is a great alternative financing option for any business, it is especially good financing option for companies that sell medical supplies to medical facilities and doctors offices. Selling invoices to a factor allows medical supply companies to get paid faster without going into further debt. Moreover, the company as part of their claims will not have to turn down orders anymore because medical supplies factoring enables them to have enough cash on hand to pay for the large orders. Still not convinced? Check Top Five Reasons for Medical Supply Companies to factor their accounts

Reason # 1: Get Paid Quicker

instead of waiting. 30-60 days to receive payment after delivering medical supplies to healthcare or doctor’s office, medical supply companies can sell their invoices to factor and get cash within 24 hours of issuance account. All aspects of a company must take place funds copy of the invoice and proof that the product was delivered and accepted. This is easily accomplished with tracking numbers and digital signatures

Reason # 2: .. Take Credit customers

medical Factoring is a great option for companies that are either just start or have less-than-perfect credit. Rather than make a credit decision based off of the credit business, factoring companies determine the credit limits after reviewing customer payment trends Medical Supply Company. This is usually achieved by using a third party credit bureau, it is done in a non-intrusive way, give Medical Supply companies the option to secure financing based off of credit of its customers rather than their own.

Reason # 3 :. Stop worrying about Gallery

monitoring collections can turn into a full-time job, it can become burdensome for growing medical supply company to keep up with reference -sending released accounts and keep track of payments. Many companies offer factors accounting services as well as medical funding. Rather than chase after payments, supply companies can focus on more important things-like growing business

Reason # 4: .. Avoid debt

Unlike traditional lending models, Receivables factoring is not a business loan. Supply Company has no loans from factoring companies; but factor buys legally bills Medical Supply company at a discount price. The supply company simply give their account, sell it to a factoring company and receives cash up front, and the factor collects the invoice. No debt is created, so the balance sheet stays clean

Reason # 5: .. Never refuse Sort Again

Perhaps the most attractive reason why the company can benefit from elements is that they will no longer have to turn down a new order. Cash flow gaps surface when a medical supply company has to more products without paying for previous orders. Medical Supplies factors helps close the cash flow gaps because medical supply company gets money within hours of verification instead of waiting weeks to be paid.