Medical Factoring Concepts, Inc. has a long track record of purchasing Health Care accounts receivable and specializes in the purchase of Personal Injury accounts.
Why sell (factor) your accounts receivable?
If you don’t like waiting for insurance company payments or personal injury settlements, Medical Factoring Concepts, Inc. will pay you now for your unpaid accounts.
Benefits of factoring:
- Increase Your Cash Flow Now.
- No Waiting For Insurance Company Payments.
- No More Waiting For Personal Injury Settlements.
- Use Your Money For Equipment, Expansion or Supplies.
- Use Your Money To Reduce Your Debt.
- Reduce or Eliminate Your Collection Efforts
Sell All Your Accounts Receivable
You Don’t have to Wait for Your Insurance Money
We will buy (factor) all of your insurance accounts receivables.
What that means for you, the provider, is you can get paid in advance by selling your accounts receivable to us.
Benefits:
Get up to 90% of your average insurance collections at the start of each month.
What you need:
A web based billing software. (If you do not have one, we can give you some recommendations)
A competent billing company/person. (If you do not have one, we can give you some recommendations)
Fill out a change of address for insurance company payments.
What we provide:
Monthly payments for your accounts receivable.
We scan the documents we receive via mail/fax and E mail/fax them to your billing company/person for processing, there is a small charge for this required service. (An other option is you can pay for a Lockbox service).
Cost:
A factoring charge between 2% and 4% on the amount advanced each month. There is a $200.00 minimum factoring charge each month.
Additional $20.00 per hour for scanning of all documents mailed to us for your office, you will be billed in 15 minute increments.
Example:
The first week of April we advance you $10,000.00 and at the end of the April you would owe us $10,200.00 plus scanning/coping charges, lets say $100.00 for the month. The total amount owed us would be $10,300.00.
Refund: This is the amount owed to a client in the event we receive more money than is owed us.
In the month of April If we collected more than $10,300, then we would refund back to you any money over the amount owed us.
Example:
If we collected $10,500.00 during the month of April and we were owed only $10,300.00, then we refund to you the $200.00 overpayment which would be paid to you the following month in this case May.
In the month of May we would still advance you $10,000.00 plus pay you a $200.00 refund for a grand total of $10,200.00.
Underpayment: This is the amount owed us in the event we receive less money than is owed us by a client.
If we collected $10,000.00 during the month of April and we were owed $10,300.00 for the month of April, then we would be owed a $300.00.
In May we would still advance you $10,000.00 but the factoring charge would be on $10,300.00 instead of the $10,000.00 we are advancing you since we are carrying over the overall outstanding balance.
Contact us:
Voice (602) 293-6203
Sell Your Personal Injury Accounts
Raise Cash On A Per Needed Basis:
This program provides funding using your personal injury account receivable(s) as the payment source. Medical Factoring Concepts, Inc. buys your individual account receivable(s) and pays you seventy percent (70%) on the amount we believe to be collectable for each account. The amount we believe to be collectable is called the Agreed Face Value. We then collect the proceeds as the accounts payoff.
An example of how the program works: If the Agreed Face Value on a $1,300 account is determined by us to be $1,000.00, then Medical Factoring Concepts, Inc. will pay you $700.00.
We have recourse (rebate) and non-recourse (non-rebate) plans available.
Note:
Your account receivable(s) must be free of all encumbrances before we can purchase them.
Contact us:
Voice (602) 293-6203
Apply Now
New Client Documentation:
Fax Your Completed Documentation To:
(877) 300-4202
Medical Factoring Concepts, Inc.
4848 E Cactus Rd Suite 505-480
Scottsdale AZ 85254
(602) 293-6203
Personal Loan Program
For other types of Funding and Services we have available call 293-6203
- Mortgages and Private Loans
- Debt Consolidation Loans
- Insurance and more
Contact us:
Voice (602) 293-6203
Contact Us
By Mail
Medical Factoring Concepts, Inc.
4848 E Cactus Rd Suite 505-480
Scottsdale AZ 85254
By Phone
(602) 293-6203 Phone
