What is the cost of factoring and are there any “hidden fees”?
Looking at factoring pragmatically, we like to say that factoring actually costs you nothing — you are just going to be receiving less for something that you own. The reality of the situation is that the costs can vary due to different variables such as the size of the invoices, the size of the practice and the resulting number of invoices submitted and of course the most important factor being the average turnaround time (the length of time that it takes for the insurance company to pay) off the invoice. There are no hidden fees along the way and once you are approved you do not have to re-apply at some future point. There are also no monthly user fees of any type. This is a very flexible type of financing program and you will find it to be a great benefit to insuring the smooth financial operation of your medical practice or facility.
