Healthcare Financing Options for Atlanta, GA Medical Practices
For medical practices in Atlanta, GA finding adequate financing can be a bit of a challenge. With an aging and growing patient population and demand for qualified providers, the healthcare industry in Atlanta is slated to outpace other local industries into the next decade. Unfortunately, starting and sustaining medical practices in Atlanta, GA requires a lot of capital. With bank interest rates on the rise, providers are looking for more budget-friendly healthcare financing options for Atlanta, GA practices.
Healthcare Financing for Equipment
The success of any medical practice in Atlanta, GA is due partly to having access to the right equipment. Some practices are using old equipment simply because the cash outlay to purchase newer models is often cost prohibitive. Depleting capital reserves or taking on debt through loans is not an ideal solution. Equipment leasing agreements, on the other hand, offer Atlanta, GA medical practices an affordable alternative, without putting debt on the books. Healthcare providers can get the equipment they need with the added bonus of trading up to the latest models as they become available. Also, leasing equipment offers tax advantages without having to handle depreciation values.
Debt Consolidation for Atlanta-based Practices
Part of running a successful medical practice in Atlanta, GA is maintaining the delicate balance between revenue and liabilities. Many healthcare providers are currently paying off at least two loans, each with different terms and interest rates. As interest rates are slated to increase at least one more time before the end of 2018, debt consolidation offers a bit of a reprieve. With debt consolidation, multiple loans can be concatenated into one manageable payment with one low interest rate. No longer will you have to handle those “friendly reminders” from multiple creditors each month.
Getting a Handle on Revenue
Accounts receivable is very different in the healthcare industry. Waiting on insurance claims, staggered payment schedules, and patients who sometimes prioritize their invoices differently than other expenses. Factoring offers healthcare financing options for Atlanta, GA medical practices. Invoices are submitted as they are generated and turned into cash within one or two business days. Factoring boosts cash flow and ensures no gaps in revenue due to staggered payment schedules.
Corporate Funding offers a wide array of healthcare financing options for Atlanta, GA medical practices. Contact our offices today and put our expertise to work for you.