Healthcare and medical practice financing
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Equipment, expansion and insurance reimbursement gaps, covered.
See my optionsPractices often wait weeks for insurance to pay, while rent and payroll do not wait at all. A line of credit covers that gap and costs nothing when you do not use it.
Imaging systems, dental chairs and lab equipment are classic fits for equipment financing. When you are adding a location or a provider, a term loan gives you a set amount and a set schedule.
What lenders look at in healthcare
- Steady collections and reimbursement history
- Time in practice
- Personal credit of the owners
Funding types that fit
Questions
How do practices handle slow reimbursements?
Most use a line of credit, drawing when claims are slow and repaying when they clear.
Can I finance a new piece of medical equipment?
Yes. The equipment usually backs the financing, which can make approval easier.
What about opening a second office?
A term loan is usually the cleanest option for a planned expansion.
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