Factoring Services in HealthCare Market Size & Growth Outlook 2018-2029
Factoring services in the healthcare market refer to the process of selling accounts receivable, or unpaid invoices, to a third-party financial company known as a factor. Healthcare providers such as hospitals, clinics, and physician practices may use factoring services to improve cash flow by receiving immediate payment for their outstanding invoices rather than waiting for the payment from insurance companies or patients. The factor then assumes responsibility for collecting payment from the insurance companies or patients, often at a discounted rate. Factoring services can help healthcare providers maintain stable cash flow, reduce bad debt, and avoid the risks associated with delayed payments.
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