Money factoring is a short-term solution to help you maintain a steady cash flow in your medical practice.
While factoring is not a traditional loan, it’s still important to shop around and a find a factor that isright for you.
There are 3 effective ways to find a money factoring company:
First, check trade publications like Modern Healthcare and Physicians Practice. Many factors advertise in healthcare-related magazines like these.
Second, talk to your financial advisor or banker. If you don’t qualify for a traditional loan, your banker may be able to refer you to a recommended money factor instead.
Remember that your eligibility to receive funds through factoring is based on your customer’s credit, which makes it a great option for startups and businesses with little credit, no credit, or bad credit.
Third, you can find a money factoring company by allowing factors to compete for your business.
We offers a free price-compare service to help you find factors based on your business size and needs. Simply fill out the form and factors will contact you with their most competitive rates.
To learn more about doctor credentialing, insurance, coding, outsourcing, and everything you need to establish a successful healthcare practice, follow all of Sherlock Doc’s adventures on the DoctorsBusinessNetwork.com or Doctors Business Channel on YouTube!.