In our rather fast paced world it is unfortunate that some of us will either have an accident which will cause us some damage, or we fall foul of some illness which will stop us carrying on with work the way we should. When this happens, we sometimes find that we do not have the correct insurance, or not enough, to cover all the expenses which leave us in a bit of a quandary. Where accidents occur we may have to sue the other party for compensation to cover all the costs but this can take some time. In the meantime there are solutions in the form of healthcare accounts receivable and medical receivable factoring which takes away the worry and the stress of paying the outstanding bills.

What this means is that a third-party company will buy up these kinds of debts from hospitals and clinics and pay the facility within thirty days. Because the clinic can be guaranteed that they will receive their payment, they can take on patients who may otherwise have had to be turned away. This is particularly true in accident cases where going to court to settle the claim can take an inordinate amount of time. The third-party company will naturally take a part of the payment for itself, but for this it is willing to wait for several years if needs be to be paid in the end.

This then means that doctors and surgeons are far more likely to work with a hospital or clinic because they know that their fees will be paid after just thirty days so they also will not be left waiting for too long to get paid for their very necessary services.

Because of this, the hospital will be able to widen its client base to take in those people who may have missed out otherwise. Indeed, many people have had their injuries worsen because either they could not get someone to guarantee payment of their bills, or they have no assets to sell to pay themselves and then claim it back from the insurance company or person that they have to sue. This just makes problems worse for them of course, and some people have had to resort to selling their homes just to get by.

Since the third-party company can make a decision on whether to take up the case within the first twenty-four hours of the accident happening, the patient can rest assured that they will not have to pay for the damage themselves. Once the company approves the claim, they guarantee to pay for the medical expenses right there and then leaving the hospital to get on with what it does best without worrying about payment or chasing bad debts. The patient often heals faster without all the stress too so both sides are winning here.

The patient himself does not see or hear from this third-party company since it is the medical facility which deals with them direct. The patient is then offered all the normal facilities that one would expect from a hospital when an accident occurs.