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Every business, including medical practices, requires working capital. Slow-paying insurance companies, delays in Medicare and Medicaid reimbursements and cash-strapped patients can hurt cash flow significantly. Meanwhile, employees must be paid, equipment and supplies must be purchased, and malpractice insurance costs continue to mount. Biz2Credit can help provide working capital in the form of business loans, lines of credit cash advances, and other forms of financing that can ease any cash crunch.
Biz2Credit has helped all types of doctors, including cardiologists, dermatologists, gynecologists, oncologists, surgeons, and dentists, secure working capital and keep their practices running smoothly.
Like all professionals who run successful businesses, physicians rely on their staff to help their offices run smoothly. These employees include physician's assistants, nurses, receptionists, and office assistants who help with billing health insurance companies, Medicare, and others. When starting a practice, expanding services or opening a new office, doctors frequently require an infusion of cash. Insurance companies are notoriously slow in paying, dispute claims and try to negotiate rates.
These occurrences can cause cash flow issues. Biz2Credit offers a variety of financing options, including business loans, lines of credit and cash advances, which can enable medical practices to be able to hire the staff they need to operate efficiently.
Converting patients' records from paper to digital files creates great efficiencies for healthcare providers and their patients. The benefits for patient care are obvious: digitizing patient files creates an electronic record of visits, exams, blood tests, diagnoses, and prescriptions that can be shared with other physicians if necessary. Creating computer files of health histories can potentially be life-saving.
Using electronic medical records reduces the cost paper and file folders and cuts labor costs. The efficiencies created by simply researching a patient's electronic record -- rather than hunting through hundreds of file folders -- cuts space and valuable time, while at the same time save costs for medical practices and hospitals. However, digitizing medical records is a significant long-term investment for any medical office. Conversion costs frequently run in the tens of thousands of dollars. Biz2Credit can help doctors secure the funding they need to create electronic medical records.
Every medical office requires equipment purchases of everyday items, such as tissues, bandages, etc. as well as big ticket expenses. These can range from defibrillators, EKGs, CAT scans, laboratory equipment, lasers, stress test treadmills, surgical equipment, ultrasound equipment, and wheelchairs. Biz2Credit can help doctors secure financing for all types of medical equipment.
Startup costs for new offices can be significant. Any physician who has purchased or renovated a building or entered into a lease agreement knows that setting up a location is costly. Next come the purchases of computers, software and equipment, the investment of setting up phone systems and electronic medical record systems, staffing costs and marketing expenses.
Biz2Credit can help secure business loans for office purchases and leasing arrangements, as well as provide a wide variety of options to obtain the working capital needed to launch a new office.
Biz2Credit matches physicians, dentists and other healthcare professionals with banks and other financial institutions that can provide working capital, equipment loans, lines of credit and other financing.
Don't just take our word for it. Listen to the stories of physicians, such as:
Dr. Eduardo Pignanelli, who improved his financial situation and secured more than $2 million to digitize his medical record-keeping and expand his practice to a new, state-of-the-art facility in upper Manhattan. Click here for video testimonial
Dr. Michael Jackson, who secured funding to build a state-of-the-art dermatology office and spa in Brooklyn. Click here for video testimonial
Dr. Vishal Patel, a board-certified family physician who bought a practice in Northvale, NJ, six years ago and wanted to expand into an area closer to his home. Biz2Credit helped him to secure a $1.5M SBA loan.