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Medical Accounts Receivable Funding Keeps Doors Open, the Lights On, and Growth Strategies on Track

From Independent Rural Hospitals to Sprawling Urban Healthcare Networks

During unforeseen financial downturns, or when unanticipated revenue-generating opportunities present themselves, speed and a strong financial relationship is the difference between success and failure. When CMS demands new information technologies, Joint Commission requires urgent equipment replacement, a boiler bursts, or bankruptcy is looming, an immediate "cash" infusion is the only switch that keeps the doors open, the lights on, and growth (or exit) strategies on track. "While lines of credit and bank loans are good sources for financing a medical business, nothing is more expedient than medical accounts receivable [MAR] funding," notes E. Paul Hettich, Chief Financial Officer of BryLin Hospitals in Buffalo, New York. He credits the hospital's survival to this often overlooked financial tool. BryLin, the only private treatment facility in the Buffalo/Niagara region providing inpatient psychiatric services and outpatient substance abuse treatment services, was immersed in debtor-in-possession crisis when Hettich learned of the benefits of MAR Funding when a fellow healthcare provider advised him about this alternative financing solution and introduced him to Sun Capital HealthCare, Inc.

"When things looked the darkest, medical accounts receivable funding became the most effectual financial oxygen for saving and reviving our 55-year old institution," he shared. "Over time, the continued immediate cash infusion turned the tide on our balance sheet and was instrumental in our reorganization efforts. It provided working capital which allowed us to add back staff and management cut in previous downsizings, enabled us to add new services and purchase related equipment that quickly increased physician affiliations and referrals, thus generating new revenue streams."

Hettich reported that what truly made the difference was BryLin's relationship with Sun Capital HealthCare, Inc., a national financial services company that specializes in medical accounts receivable funding solely for the healthcare industry. "Anyone can finance you money, but the relationship we had with direct 24/7 access to Sun's principals, their staff's working knowledge of the healthcare industry, and their unwavering trust in our operation and management was both financially and mentally emancipating during that critical time. By effectively utilizing A/R funding as part of our financial strategy for our medical business, we added new services, restored the confidence of our staff and our suppliers, increased referrals from associated physicians and enhanced our financial leverage with banks and other lending institutions."

"We have returned our business to profitability, recapitalized and reformulated our capital structure and repositioned our organization for growth," added Hettich. "Even as we become more bankable, we will utilize the immediacy and flexibility of MAR funding to invest in opportunities that can increase revenues and proactively address capital equipment needs in a timely manner."

An indispensable tool for financial turnaround and a dependable ally in growth

A key factor in a provider's fiscal downfall, or lack of growth, is the lack of working capital. A solution to prevent this lies in the providers' accounts receivable, an asset often wasting away accumulating dust on the balance sheet. With the specialized MAR funding program of Sun Capital HealthCare, there are no ceiling caps and the transaction is debt-free. Simply put, Sun Capital purchases a provider's accounts receivable and advances it cash within 24 to 48 hours of submission of claims.

"With this tool, companies can take charge to regain or significantly amplify their financial leverage with the immediate infusion of cash," stated Certified Turnaround Professional Thomas M. Vivaldelli, a principal and managing director of Distressed Real Estate Solutions with more than 25 years in turnaround, crisis management, restructuring and renewal of troubled businesses. "By using some of the cash to reduce debt, a company increases its value for a potential sale or strengthens its ability to be bankable with a bigger line of credit and lower interest rates." Vivaldelli added that A/R funding works as an indispensable tool to help turnaround the capital structure of a company in eminent danger, or as a dependable ally for companies poised for great growth.

The challenges for healthcare providers include growing revenues to keep ahead of rising overhead, remaining a leader in the healthcare industry, and delivering projected returns to shareholders or the anticipated revenue levels directed by nonprofit boards of directors. Sun Capital HealthCare's MAR funding program is an effective financial tool in this environment.

About the Author

Sun Capital HealthCare Inc (SCH) specializes in medical accounts receivable funding for healthcare providers. Types of providers that have and continue to benefit from SCH's innovative programs include hospitals, physicians (individual and group practices), ambulatory centers, in-home health service providers, DME/HME Companies, diagnostic services and pharmacies. SCH is unique as they are experienced in how the healthcare business works and are dedicated solely to healthcare funding, also known as medical accounts receivable (MAR) funding. Sun Capital HealthCare understands working capital needs and cost pressures and is focused on keeping funding costs as low as possible.

Can I download an iphone app to my Droid?

My of my friends has a great app on his iphone called Med Infusion. I searched all the drip calc apps along with medical apps and couldnt find one with all the medications integrated within the drip calculation format. Is it possible to somehow download the iphone app onto my droid?
Ty

No. Apple apps can be downloaded only to iPhones and iTouches.

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