Posts Tagged ‘Flow’

KIUC ballot to decide fate of Free Flow contract

KIUC ballot to decide fate of Free Flow contract
LIHU‘E — Free Flow or likely no go for hydroelectric power is the message Kaua‘i Island Utility Cooperative is promoting as it mailed out member ballots this week.

Read more on The Garden Island

Patient Flow Solutions Authority Central Logic Presents Second Annual Transfer Center Summit, Aug. 19-20, in Salt Lake …

Patient Flow Solutions Authority Central Logic Presents Second Annual Transfer Center Summit, Aug. 19-20, in Salt Lake …
SALT LAKE CITY—-Central Logic, the healthcare industry’s leading provider of innovative patient flow software and consultative expertise, today announced it will host its highly-anticipated second annual Transfer Center Summit, an exclusive gathering of medical sector specialists exploring the nuances of patient transfer center management, Aug. 19-20, 2010, at the Salt Lake City Marriott …

Read more on Business Wire via Yahoo! Finance

LeBron means big bucks flow to Miami

LeBron means big bucks flow to Miami
Like a shot of espresso to a recessionary hangover, news that the NBA’s most sought-after free agent is “bringing my talents to South Beach” created instant excitement Friday for tourism promoters, hotels and others who stand to win when stars swarm into Miami.

Read more on Miami Herald

Can Medical Factoring Fix your Business’s Cash Flow?

Most healthcare businesses have to wait between 15 to 150 days to get claims paid by private insurance, Medicare/Medicaid and HMOs. Although most payments are made in 15 to 45 days, a simple change in billing codes or a request for additional documentation can add weeks or months to the expected payment date of a medical claim.

However, if you own a healthcare practice, DME, hospital or testing center you have expenses that must be paid like clockwork. Payroll needs to be met. Rent needs to be paid. Equipment must be bought. Not surprisingly, all these expenses have one common element – you either pay them or you go out of business.

This leaves you with two possible options. Either you must have a cash reserve sitting at the bank or you need to get financing to cover the wait.

Many healthcare businesses try to get a loan or a line of credit. Although they can work reasonably well, they have one serious drawback. They have limits. And once you reach them, you are usually out of luck if you need additional financing.

The best alternative is to factor your medical receivables with medical factoring. Medical factoring provides you with financing based on your insurance claims, eliminating the wait and providing you with funds to operate your business. And opposed to traditional financing, you have no set limits. You can factor as many insurance claims as you can generate. It’s really a tool for growth.

Factoring is easy to implement and incorporate into your business. Here is how it works.

You send your claims to the insurance company and to the factor
The factor advances you up to 85% of your expected net collections
15% is not advanced and is used as a reserve to handle charge backs
You get immediate use of the funds while the factoring company waits
When the claim is paid, the transaction is settled

Since factoring relies on the insurance company’s payment habits and financial strength, it can be a great tool for new and growing businesses that may not qualify for – or have exhausted – their bank options.