Off Balance Sheet Funding for the Healthcare Industry
Healthcare is a fast paced, complicated environment. Not only must you be concerned about Federal legislation, regulatory issues and ever-changing care trends, today providers face a tremendous financial stress as well... delayed payment from third party payors. Impaired cash flow strains your entire operation, from payroll and inventory to marketing and growth efforts, and most importantly, your personal income and lifestyle. Many healthcare professionals cite managing receivables as one of the greatest challenges they face. Hyland Financial's goal is to assist you with a solid, yet simple program that allows you to use your capital - income you have already earned - in the time frame that best suits your needs. Our program provides a quick turnaround for when you are in need of immediate cash. If you are in need of capital for expansion or restructuring of debt than we can help. We provide an alternative to the restrictive nature of traditional financing including:
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Fast, responsive quotes |
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Competitive Rates |
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Tomorrow's cash (insurance payments) today! |
Generally, receivables are by far the largest asset shown on your balance sheet, yet those dollars are often unavailable for frighteningly long periods of time. You may not be aware that receivables are an asset that can be used today.
Hyland Financial Group has an Accounts Receivable Program that allows you to use those currently unavailable funds. In our financing program we purchase your receivables for a fee, then provide the cash that these receivables represent within days of creating an invoice. As a result you receive payment for your claims immediately.
Selling your receivables or "off balance sheet funding" has been a very desirable method to obtain working capital for numerous industries over the past 100 years. Within the last ten years, the need for accounts receivable financing in the medical industry has significantly increased. Due to the tedious process associated with reimbursement from third party payors, the entire spectrum of healthcare providers have been subjected to an enormous financial burden. Unthinkable yesterday, turn around times and DSO's approaching 90 to 120 days are not uncommon today.
Our program is not a loan; and unlike a loan, the sale of receivables creates no additional debt to your balance sheet. It allows you to obtain a large portion of your receivables' value in a timely manner. Traditionally, loans are often for a fixed amount and long-term in nature. We, on the other hand, increase your financing as your business grows and offer both short-term and long-term relationships.
Finally, our program allows you to maintain control of your business, reduces the energy necessary to juggle your finances and enables you to attend to more pressing matters... your patients.
We purchase receivables from many provider specialties: office-based practitioners, group practices, hospitals, clinics, home healthcare entities and numerous others all fit within our purchase profile.
Receivables can be purchased from rated heath insurance companies and governmental agencies all across the United States. In certain states, we may be restricted from purchasing certain types of claims such as workers' compensation or personal injury claims.
There is no minimum or maximum size requirements. We meet the financial needs of a variety of providers, although the majority of our providers bill between $50,000 and $750,000 per month.
At this time we do not purchase receivables from dentists and chiropractors.
The need for receivable financing is clear. Hyland Financial Group is committed to meet that need and help you move forward. Forward to a future where you can focus on care.
If you are interested in ascertaining whether or not your receivables are eligible for purchase, the amount that will be advanced on the purchase and the fee that will be charged, please Click Here and fill out and submit our online application. Thank you and we look forward to working with you in the future.
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