Working capital is the lifeblood of the healthcare industry. However, finding a reliable source of working capital in Denver, CO without taking on massive amounts of debt can be a huge challenge. Fortunately, Denver AR financing solutions provide the remedy the local healthcare industry has been seeking.
So Many Invoices, So Many Delays in Payments
The major cause of the lack of working capital in among practices of all sizes in Denver, CO can be traced to unpaid invoices. Staggered payment schedules have the healthcare industry waiting 30 days or longer before seeing payments of any kind. Add onto this patients who cannot afford medical care and the delayed reimbursements from insurance providers, and accumulating sizable amounts of working capital is an uphill struggle for everyone from small private practices to large hospitals. Denver AR financing cleans up tracking payments and performing collections by streamlining accounts receivable.
How Denver AR Financing Works
Denver AR financing is a two-step process, designed to provide local healthcare practices with working capital, without having to rely on loans. Medical practices submit unpaid invoices for AR financing, and the invoices are converted to working capital within 24 hours. This eliminates the waiting period on staggered payment schedules, insurance payments, or anything else that puts off getting access to revenue. Denver AR financing also eliminates the need for collections. AR financing handles invoices as they are generated, along with patient accounts which have aged beyond their due dates. Why delay payment by up to 45 days by going through the process of performing collections when Denver AR financing services can provide working capital for invoices within the course of a day?
An Alternative To Short-Term Loans
For the longest time, Denver area medical practices relied on short term loans as a band-aid solution for cash flow issues. Unfortunately, loans exacerbate those issues by offering a finite amount of working capital, while placing debt on the balance sheets. When the money from the bank loans runs out, and there are still delays in payments, medical practices have to put themselves further in the red by taking on more debt. It’s an unhealthy financial cycle. Denver AR financing services provide working capital without the burden of debt.
If you own a medical practice, and want to correct or prevent problems with payments and cash flow, contact WN Financial Solutions. We provide a wide range of services to provide working capital and improve cash flow for medical practices in the Denver area.