Accounts Receivable Financial Solutions • Innovative Tools to Increase Healthcare Profitability……… The “No Risk” Funding Way
Providers Face Financial Challenges Due to..... • Escalating Costs • Unpredictable Financial Markets • Accounts Receivable Delays • Internal Waste • Overhead • Treatment of the Uninsured • Inefficient Government Bureaucracy • Increased Insurance Profits from A/R Delays • Costs of Borrowed Capital • And the list Continues.....
While Government & Media Focus On The Needs of the Uninsured Providers Face Immense Fiscal Challenges, Public Apathy And Government Agendas Won’t Deliver Providers With Effective Solutions…...
Because Money Doesn't Come With Instructions..... 1st Choice Funding Provides Innovative Financial Solutions to Resolve the Fiscal Challenges Facing Healthcare Providers Today....
Patient Services vs. Provider Needs • The Facts Are Clear: • While healthcare providers ensure timely patient care, the same providers wait at best weeks until collection, and in most instances the wait is months for A/R collections. And for providers whose services are medical lien secured….A/R delays may be years with still yet collection risks. • Even worse is the ever growing uninsured U.S. population. For these patients providers are forced to assume costly and unpredictable A/R collection expense. Healthcare providers face guaranteed expense and charge off's to bad debt as an ever present reality. Chasing bad money with good. • The financial health of healthcare is painfully obvious, A/R delays and bad debt affect providers across every sector of the industry. The facts remain; providers carry immense financial burdens from pending, uncollected and bad debt A/R. Thus the financial integrity of healthcare profitability is significantly compromised under the current system. • As a healthcare provider wouldn’t you agree it's time for a change?....
What 1st Choice Funding Provides • 1st Choice Funding also agrees…. • In order to tackle the ominous challenges facing healthcare providers, innovative financial solutions which guarantee effective results are what must be provided in order to resolve the economic challenges healthcare providers face. • Innovative financial solutions are exactly what 1st Choice Funding provides as we now present long past due financial options to achieve increased healthcare profitability today…..& tomorrow. • Only 1st Choice Funding delivers twelve methods to achieve increased cash flow through no debt means.
“No Risk” Solutions Provide the Answer • Understanding the challenges facing healthcare providers, 1st Choice Funding offers a unique “solutions oriented” financial portfolio which delivers.... • “Risk Free - Debt Free” Healthcare Capital • Providers who utilize our targeted financial strategies resolve the “long past due need” to meet such challenges, doing such head on and ensuring greater profitability through increased capital, cash flow and reduced overhead expense. • Simply Put; • Our services deliver real results...fast. • Please review the following information as we present Healthcare's Innovative Financial Solutions… the “No Risk” way...
12 Effective Tools To Increase Healthcare ProfitabilityThe “No Risk” Way
Cash Infusions The 1st Choice Funding Way • Without incurring debt, healthcare providers can utilize cash flow from untapped, often unused and sometimes unknown assets to create “Cash Infusions of Risk Free, Debt Free Capital”. 1st Choice Funding's portfolio of financial tools to achieve such include: • Group 1 - Typical A/R • 1. Accounts Receivable Lines of Credit – Up to 72% A/R Net Worth Now- No More Delays 2. Accounts Receivable Factoring – Up To 97% Over Time or No Interest 3. Accounts Receivable Portfolio Funding – The “Cash Out/No Payment” Solution • Group 2 - Medical Lien A/R4. Medical Lien Accounts Receivable Funding – Guaranteed Capital w/o Provider Risk 5. Medical Lien Procedures Funding – For Ongoing Services Lien Capital w/o Risk 6. Medical Lien Prescription Funding – Another Option for ongoing Lien Capital w/o Risk • Group 3 - Bad Debt A/R 7. Accounts Receivable Bad Debt Portfolio Purchasing – Something for Nothing • Group 4 - Self Pay A/R8. Co-Pay/Deductible Software – The Web Based Guaranteed Solution 9. Co-Pay/Deductible Account Servicing – Risk Free Low Cost Expense Control 10. Uninsured Patient Servicing – Stop Chasing Bad Money With Good 11. Uninsured Patient Financing – The “Patient Friendly” Credit Solution 12. Uninsured Patient A/R Purchases – The “Mother Lode” for Self Pay
Group 1 Typical A/R “No Risk” Accounts Receivable Lines of Credit “No Risk”Accounts Receivable Factoring “No Risk”Accounts Receivable Funding
“No Risk” A/R Portfolio Funding Delivers • Providers Obtain Cash Infusions For A/R From • Insurance Receivables • WC/Government Receivables • 3rd Party Receivables “No Risk” A/R Capital Provides............. • Access to Unlimited Investor Resources • Provides a “No-Debt” Source for Capital • Boosts Liquidity by Better Utilization of Assets • Provides Seamless Implementation • Eliminates Fiscal Delays in A/R • Eliminates Financial Risk • Reduces Overhead Expense • Provides Significant Increases in Profit Margins
“No Risk” A/R Funding Options Include • Option 1. “No Risk” A/R Lines of Credit • Secured by a UCC-1 lien, a Line of Credit provides a cash infusion of up to 72% of the net worth of a portfolio. Without delay providers obtain cash now and pay 2% in monthly interest deducted direct from incoming A/R. The 98% remaining A/R is applied to the balance of the Line of Credit. With a Line of Credit new A/R is added monthly to continue the cash revenue cycle indefinitely. Application is free underwriting fee's vary. Monthly Portfolio Minimum is $250,000.00. • Option 2 a. “No Risk” A/R Portfolio Factoring • “No Risk” Portfolio Factoring infuses providers whose portfolios have a minimum monthly volume of $25,000.00 with a “No Interest” option and the discount rate serves as the interest. The maximum amount available is 90% short term and longer A/R collections mean lesser the %. Application is free, underwriting fee's vary. A/R collections up to 150 days interest free for this option. • Option 2 b. 100% “No Risk” A/R Portfolio Factoring • Released in 2 phases of funding with the first 77% issued at contract implementation. When ½ of the balance is paid from the A/R, the remaining 20% is released in a 2nd phase of funding. Application is free, underwriting fee's vary. Portfolio minimum is $250,000.00 per mo. For A/R up to 150 days • Option 3. “No Risk” A/R Portfolio Funding • “No Risk” Portfolio Funding deliver for providers seeking to liquidate a portfolio in a lump sum without re-payment commitment. Portfolios are purchased at a discount depending on the portfolio's net worth. Providers capitalize on the value of money TODAY vs. TOMORROW! Minimum portfolio size is $50,000.00 monthly. Application is free, underwriting fee's vary.
Group 2Medical Lien A/R “No Risk”Medical Lien A/R Portfolio Funding “No Risk”Medical Lien Procedures Funding “No Risk”Medical Lien Prescription Funding
“No Risk” Medical Lien Funding Offers… • Providers Obtain Medical Lien Cash Infusions From • Liability Insurance • WC/Government • 3rd Party Payers “No Risk” Medical Lien Funding Provides........... • Access to Unlimited Investor Resources • Provides a “No-Debt” Source for Capital • Boosts Liquidity by Better Utilization of Assets • Provides Seamless Implementation • Eliminates A/R Delays • Eliminates Fiscal Risks • Reduces Overhead Expense • Provides Significant Increases in Profit Margins
“No Risk” Medical Lien A/R Portfolio Funding • Option 4. “No Risk” Medical Lien Funding • Healthcare providers whose services are LLOP secured find “No Risk” Medical Lien Funding a welcome “financial bridge” for providers seeking guaranteed payment without risk of lawsuit settlement & collection. • In fact “No Risk” Lien Funding provides capital regardless of litigation success. For providers “No Risk” Funding ensures providers receive guaranteed cash infusions risk free to the provider. • This program converts personal injury patients into a PI cash generating resource as ageing receivables convert into cash without waiting. • 1st Choice Funding’s Medical Lien program delivers to providers either a “most return” or a “most cash in hand now” option. Each best serves providers differently depending on the financial goals and agenda of the provider. The bottom line is; providers obtain a what best suits the financial goals and agenda’s of the provider. • With “No Risk” Lien Funding providers can exponentially grow a revenue stream from lien patients because Lien Funding delivers revenue on all patients in a portfolio. (Minimum portfolio size is $250,000.00) Instead of “cherry picking” through patient files, 1st Choice Funding delivers guaranteed revenue for all patients in a portfolio. • Application is free, underwriting fee's vary depending on portfolio size. • 1st Choice Funding Medical Lien program provides even more because …..
“No Risk” Medical Lien New Patient Funding • Option 4b “No Risk” Medical Lien New Patient Funding • “No Risk” Medical Lien Funding does more than lien portfolio purchases. We purchase new medical lien patients providing an effective long term financial solution. • “No Risk” Funding on new lien patients differs from portfolio purchases as each lien case must be pre-approved before treatment. Why? To protect providers from lien secured cases who lack; • 1. Legitimate Legal Merit 2. Provable Liability 3. Sufficient Insurance to Cover Medical Expenses • While attorneys refer medical lien patients to providers, the same attorneys can some times loose objectivity and refer cases lacking merit, liability or sufficient coverage. While legal expenses and attorney time are wasted attempting to collect such cases, medical costs far out weigh legal costs as medical costs dwarf actual legal expenses. • Therefore because medical providers have more financially at stake, 1st Choice Funding works to protect providers from problematic cases. • Additionally, because pre-approved lien case have more value per case than a portfolio where no pre-screening process was performed, pre-approval reduces the “law of losses” a portfolio contains which impacts healthcare providers bottom line. • Application is free, underwriting fee's per patient are $150.00 each. Such is you’ll undoubtedly agree a wise investment in protecting your financial resources.
Medical Lien Procedures & Prescription Funding • Option 5. “No Risk” Medical Lien Procedures Funding Option 6. “No Risk” Medical Lien Prescription Funding • Providers who receive “No Risk” Medical Lien Portfolio Funding, or who seek to add lien services to a practice, find yet another profitable opportunity as patients need on-going lien secured procedures and prescriptions. • “No Risk” Medical Lien Procedures and Prescription Funding adds to the arsenal of lien solutions. These programs too offer a “financial bridge” of guaranteed capital without case settlement for lien secured ongoing care. • “No Risk” Medical Lien Funding offers 3 unique solutions for providers to benefit from, regardless of patients litigation outcome. Cash flow without risk is what providers are guaranteed as this program keeps providers in the business of medicine, and out of the risks associated with law. • This unique program turns personal injury patients on-going and prescription needs into revenue without provider risk. • “No Risk” Lien Procedures & Prescription Funding deliver cash infusions to providers who enroll in our program. Plus protection from patients is also provided by our legal teams who work to protect providers. How so? • Our experts know the law, the courts and case settlement values. With such knowledge healthcare providers are protected from problematic patient cases, the ones where there’s no legitimate legal merit, no provable liability, or insufficient insurance to collect from. • Thus Medical Lien Portfolio, New Patient, Procedures & Prescription Funding provide a sound financial mechanism to exponentially grow and prosper from lien patients…. risk free. • Application is free, implementation and underwriting fees vary. • .
“No Risk” Bad Debt Funding Offers… • Providers Obtain Cash Infusions on A/R From • Self Pay • Uncollected Insured • Uncollected Co-Pay/Deductible • All Bad Debt “No Risk” Medical Capital Provides............. • Access to Unlimited Investor Resources • Provides a “No-Debt” Source of Capital • Boosts Liquidity by Better Utilization of Assets • Provides Seamless Implementation • Creates an Asset from a Liability • Provides Increased Profitability • Eliminates Complete Loss From Charged Off Accounts
“No Risk” Bad Debt A/R Portfolio Purchasing • Option 7. “No Risk” Bad Debt A/R Portfolio Purchases • With this amazing option “No Risk” Bad Debt Funding creates an asset from liabilities previously written off as bad debt. • Uninsured “self-pay” accounts receivable are the number one contributor to healthcare bad debt as tough patient collections are often deemed “uncollectable”. • “No Risk” Bad Debt Funding provides value by monetizing all bad debt receivables without recourse to the provider. • By purchasing all bad debt receivables from 1 month to Out-of-Statute debts years old, bad debt account receivables funding improves the bottom line with an untapped, unrealized, and uncollected asset. • “No Risk” Bad Debt Funding generates cash flow where only balance sheet liability and proof of wasted assets once were. • Application is free underwriting fees vary depending on the size of the portfolio.
Group 4 Self Pay“No Risk” Co-Pay/Deductible Software “No Risk” Co-Pay/Deductible Servicing
“No Risk” Co-Pay/Deductible Solutions Offer • Providers Obtain Cash Infusions of Accounts Receivable From • Patient Co-Pay Accounts Receivable • Patient Deductible Accounts Receivable “No Risk” Capital Provides............. • A “No-Debt” Source for Cash Infusions • Boosts Liquidity by Better Utilization of Assets • Provides Seamless Implementation • Eliminates A/R Delays • Eliminates Financial Risks on Collections • Reduces Overhead Expense in Collections • Provides Significant Increases in Profits • Delivers Guaranteed Returns on Collection
Co-Pay/Patient Deductible Software Solution • Option 8. “No Risk” Co-Pay/Deductible Software • “No Risk” Co-Pay/Deductible Software is a web based solution that contains all insurance provider's and their up-to-date policies across the U.S. With this system a patients information is available with just the swipe of a patients insurance card. This system then delivers instant patient responsibility information which ensures providers know what to collect before services are performed. • With a second swipe of the patients credit/debit card payment is reserved in the amount estimated on the EOB until confirmation affirms the patients co/pay portion. Upon receipt of the EOB confirmation (usually in days), the system then finishes the transaction by processing the CC and depositing the reserved monies into the providers account seamlessly, automatically. • Much like a hotel who reserves funds on a CC upon check-in and then completes the transaction at check-out, this solution eliminates co-pay/deductible billing, accounting, and bad debt losses, while delivering nearly 100% guaranteed collections. • Implementation and subscription fees for 1-3 providers on a 3 year lease are only $600.00 a mo. • Application is free, implementation fees vary and can be included in the mo. lease
Co-Pay/Deductible Account Servicing • Option 9. “No Risk”Co-Pay/Deductible Servicing Solution • Our “No Risk” Co-Pay/Deductible Servicing is for providers who elect an alternative to a monthly lease. This program begins with guaranteed 91% return from all collected patient receivables. • But it does more. This option also increases the guaranteed returns with savings achieved through reduced accounting and collection expense for patients enrolled in the program. • What's more patient servicing generates interest on A/R balances for providers who utilize our patient responsibility forms. • The bottom line; with this option providers earn over a 100% return on A/R collections when combining the 91% return with earned interest and reduced internal costs. • Patient Servicing can be used for existing patients who execute our agreement and new patient enrollment is simply implemented at patient admission. Providers who utilize this system have 100% patient servicing acceptance. • The enrollment fee is only 5% of the A/R balance with a cap of $125.00 per account. For accounts enrolled who are uncollected there's also another feature provided at no cost and that’s the transition of any enrolled files into our bad debt purchasing which delivers the ability to recover all or a portion of the enrollment fees.
Group 4“No Risk” Self Pay Patient A/R Servicing, Financing & Provider Funding
“No Risk” Uninsured Patient A/R Servicing • Option 10 – “No Risk”Servicing Self for Pay A/R“No Risk” Self Pay A/R Servicing is much like Co-Pay Servicing as it delivers an amazing guaranteed 91% of A/R collection return. • As incredible as guaranteed 91% returns are, this program delivers earned interest on patient balances when providers utilize our patient responsibility forms to legally establish a providers right to earn interest on patient A/R balances. • Added also is the significant savings obtained from internal collection expense reductions providers are relieved of as this program handles all billing and collection expense on enrolled patients. • With “No Risk” Self Pay Servicing providers enjoy 100% patient enrollment acceptance and for patient accounts enrolled who are uncollectable, there's another benefit at no cost. All bad debt patient files enrolled are transitioned into our bad debt purchasing program which delivers to providers the ability to recover all or a portion of the patient enrollment fees. • Plus Self Pay A/R Servicing delivers on patient collected A/R an over 100% return. All these benefits are available for a low per patient enrollment fee of just 5% of the A/R balance with a $125.00 cap per account. • This fee delivers all the above but there's even more it delivers......
“No Risk” Uninsured Patient A/R Financing • Option 11a Patient Financing With Acceptable Credit • With our amazing A/R Self Pay enrollment patients whose credit is as low as 630 are financed through our “No Risk” Patient Pay Financing. Patients obtain financing while providers obtain cash infusions from financed patients. • This “patient friendly” program builds credit by reporting payment history to all credit bureaus. Amazingly this program offers financing determinations not by an arbitrary computer scoring system but instead by real people who know the financial crisis of the last year and who can look past such for the real picture of a patient's credit. For patients to qualify for financing patient’s criteria includes; • 1. Patient must have income and a down payment (to be determined upon approval) • 2. Financing for 36 months • 3. A/R balance max $6500.00 after down payment is applied • 4. Patient must have a checking account & working phone • 5. Patient must execute financing contract • 6. Patient must have credit with more than one account on record • Patient's enrolled in Co/Pay Servicing are automatically enrolled in this program. For patients whose credit disqualifies them 1st Choice Funding provides another option that benefits both providers and patients.......
“No Risk” Self Pay A/R Financing • Option 11b Self Pay Patient Financing Without Credit • It’s impossible in today's financial market to offer financing to credit damaged patients right? Well “No Risk” Patient Financing delivers a “found no where else” solution as it offers after just 12 on time payments, and minimum qualifying criteria, a patient financing, provider infusion tool no matter the patients credit score! • Through “No Risk” Patient Servicing, with just 12 consecutive payments and patients have established credit being reported to all credit bureaus. This “patient friendly” program builds and re-build credit. When compared to traditional medical collections which lower a patients credit score, our financing reinforces positive patient relations as timely payments build a patients credit. What great incentive for patients to pay their account wouldn’t you agree? • Patient Financing Criteria Includes; • 1. Income from any source • 2. Financing up to 36 months • 3. A/R balance less than $8,000.00 • 4. Patient has a checking account & working phone • 5. Patient executes financing agreement • 6. Patient has no open bankruptcy • 7. Patient has no significant credit changes and has 12 months timely payment history • Patients no qualified for financing receive the credit building tool and 100% patient acceptance. Once the criteria is met the option to obtain financing becomes available.
“No Risk” Self Pay A/R Provider Funding • Option 12 Provider Cash Infusions From Self Pay Financing Patient Financing, Servicing and Provider “Cash Infusion” Funding - A “Win-Win” For All! • A. Patients who meets the credit criteria are financed with: • 1. Income from any source 2. Financing up to 36 months 3. Balances up to $6,500.00 4. Patient must have a checking account & working phone 5. Patient must execute financing contract 6. Down payment is required 7. Minimum fico score 630 • For each patients whose A/R is financed, providers obtain a guaranteed 77% of the A/R in a cash infusionupon patients execution of the financing agreement. (paid in a 30 day cycle) • B. Patients who don’t qualify for financing and who establish 12 on-time payments receive financing under these terms: • 1. Patient has income from any source 2. Financing up to 36 months 3. A/R balance less than $8,000.00 4. Patient has a checking account & working phone 5. Patient executes financing agreement 6. Patient has no open bankruptcy 7. Patient has no significant credit changes & establishes 12 mo. payment history • For each “no credit” patient whose A/R balance is financed, providers are guaranteed a 67% cash infusion of the contract amount when patients execute the financing agreement! (paid in a 30 day cycle) • Patients who don't qualify for financing still deliver a 91% return on collections, plus interest, and internal collection expense savings!
“No Risk” Self Pay A/R - Provider Funding Benefits • Option 12 Provider Benefits Patient Financing & Servicing - Provider “Cash Infusions” a “Win-Win” For All! • “No Risk” Provider Funding enables healthcare providers to; • Stop Writing Off As Bad Debt Untapped Assets • Stop Absorbing Collection Expense For Self Pay A/R • Stop Financing Self Pay A/R Patients In House Interest Free • Stop The Financial Drain Unpaid Patient Accounts Create • Stop Absorbing Losses For Patients Who Default in Bankruptcy • With “No Risk” Self Pay Funding, providers generate incredible sums of “cash infusions” from patient A/R financing. • In addition, regardless of what happens to a patient’s account after purchase, providers are protected by our “No Risk” guarantee which means if a patient for any reason defaults on the purchased account, there is no recourse to the provider as providers are 100% protected from account default! • That's right, providers whose patients default after an account is purchased are protected from defaulted accounts as providers have no future liability for Self Pay A/R purchased!* • (*The exception is contracts where patients cancel future services. The provider being paid the full balance simply replaces with equal value the patient A/R, or refunds the balance. This applies only to future services where contracts are paid in full. i.e. chiro, elective services, etc.) • The Bottom Line;....Only “No Risk” Provider Funding delivers this kind of an asset from self pay A/R! And Only 1st Choice Funding can convert problematic A/R into cash infusion A/R!
“No Risk” Self Pay Solutions Offer… • Self Pay A/R Funding Delivers to Providers Cash Infusions From; • Credit Worthy Patients Financed • Non Credit Worthy Patients Who Establish Credit • Savings From Collection Expense • Access to Unlimited Investor Capital • A “No-Debt” Source for Capital • Boosts Liquidity by Better Utilization of Assets • Provides Seamless Implementation • Delivers Guaranteed Returns on Self-Pay Collections • Reduces Self-Pay Fiscal Risks • Reduces Overhead • Provides Protection From Delinquent Self Pay A/R • Provides Significant Increases in Profit Margins
Are You Ready To Utilize Our Service? The 1st Step is to Download OurExclusive Representation Agreement;By Clicking Here: http://1stchoicefunding.com/Healthcare-Provider-Representation-Agreement.pdf Execute the Agreement and Return by Fax to 949.272.2382 or by email to; information.services@ Upon Receipt We'll Contact You Promptly to Begin Your A/R Funding Request
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