This program is designed to protect a medical practice's largest asset: insurance based patient accounts receivable. It also provides a practice with access to much needed cash flow. The technique involves the sale of medical account receivables to an unrelated 3rd party. A practice may sell both backlog and ongoing receivables, or it could decide to sell one or the other. For wealth preservation we recommend the commencement of an ongoing business practice of selling future receivables on a regular basis. This could be done on a daily, weekly or monthly basis depending on the volume of business.
Since insurance carriers often use delay tactics in paying claims in a timely manner, accumulated monies owed can be significant. By selling past accounts you obtain:
Similarly by selling future receivables you maximize wealth preservation benefits and you can also eliminate the headache of dealing with insurance carriers. Our team of professionals who assist you with this program are specialists using the latest electronic billing and verification technology. Therefore, they often achieve higher realization rates than achieved by your practice. This results in increased profitability for your business.
With this program you can choose to retain only limited medical billing functions. This is to
perform the data input of super bill information, verify insurance coverage provisions or restrictions such as
deductibles, pre-existing conditions, and limits for certain procedures. In order to avoid or minimize disruption
to your practice our program includes an option where you can keep your billing staff. Otherwise you could use
your billing personnel to perform other duties or you could terminate their employment. It is your choice.
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BACKLOG |
ONGOING |
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| X | X | Convert Accounts Receivables into immediate cash | |
| X | Stabilize Cash Flow through the sale of the Backlog and then the purchase of Ongoing (new) accounts receivables | ||
| X | Identify opportunities to maximize Payor reimbursement | ||
| X | Keep up-to-date with the rapidly changing reimbursement and coding trends | ||
| X | X | Releases staff from the duties of claims processing and/or follow-up and allows them to focus on other priorities | |
| X | X |
REDUCE ADMINISTRATIVE HEADACHES SUCH AS: --Updating billing system--we update your system --Payor problems—we interact with Payor |
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| X | X | Allows you to spend more time doing what you are trained to do..... providing quality health care to your patients | |
| X | X | Your credit standing is unaffected since the funds received under this Program are not loans | |
| X | X | Bank-to-Bank wire transfer of funds | |
| X | X | Infinity's funding source assumes the risk for payment by the Third Party Payor | |
| X | X | No fees charged to the Health care Provider | |
| X | X | No reserves or contingencies | |
| X | X | No personal guarantees required | |
| X | X | Professional claims management and billing assistance | |
| X | Specialized data processing software and hardware with professional training | ||
| X | X | Fast, courteous, and professional service | |
Dedicated to purchasing qualified accounts receivables of eligible Health care Providers.
Purchased receivables can include:
Commercial Insurance
Blue Cross/Blue Shield
Managed Care
Union Programs
Self Insured Programs of Major Employers
Government Insurance, e.g., Medicare, Medicaid, Champus
Certain Portions of Worker's Compensation
A Purchasing Program NOT a Loan Program:
The Accounts Receivables are purchased. Loans are not made which means the Health care Provider's credit standing is not affected and no personal guarantees are required.
Three Programs to Purchase Accounts Receivables:
"Backlog" - Accounts Receivables that are aged less than one year from the date of service. In certain instances, receivables aged beyond one year are purchased.
"Ongoing" - Current Accounts Receivables that are within one year of service.
"Both" - Purchase of both Backlog and Ongoing Accounts Receivables.
Immediate Payment for Claims purchased:
The Health care Provider receives a lump sum payment up-front for the Backlog purchase. For Ongoing purchases, payments at predetermined intervals, e.g. weekly, semimonthly, or monthly, can be arranged.
Infinity Capital Management Purchases the Receivables at Pre-Negotiated Discounts:
The accounts receivables are purchased at pre-negotiated discounts.
Purchase Price Discount:
"Backlog" - Up to 65% to 70% of Edited Face Value (*EFV).
"Ongoing" - 70% to 90% of EFV depending on the type of Receivable.
"Both" - Separate discounts will be negotiated for the Backlog and the Ongoing Accounts Receivables.
*EFV is the estimated cash payment from the Payor.
Reduces Overhead and Increases Cash Flow:
Should you prefer, existing staff in the billing area can be utilized in other areas of the practice.
Payments to the Health care Provider are made by wire transfer to the Provider's bank account within 3-5 business days after receiving the "batch" of Accounts Receivables.
Upon purchasing the Accounts Receivables from the Health care Provider, Infinity Capital Management owns the Receivables and takes the risk of obtaining payment from the Payor. In the event a claim is rejected by a Payor due to a problem originating with the Provider,
1) The claim can either be replaced by the provider or,
2) The amount can be deducted from the future purchase or,
3) The Provider can repurchase the claim.
Term:
The Term of the Purchase Agreement is negotiable, but a one to three year period is usually required.
Lock box Required:
The Purchase Agreement requires a Lock box system for the payment stream from the Payors. This relieves the Health care Provider from fiduciary responsibilities.
Infinity Capital Management
1050 E. Flamingo Rd. Suite E227
Las Vegas, Nevada 89119, USA
Email: info@infinitycapital.com
Phone: USA-702-228-3499
Fax: USA-702-383-5079