Invoice Factoring for Medical Transcription Services
Are you tired of waiting 15, 30, or even 60 days to be paid for your medical transcription services? Does waiting weeks to be paid affect your ability to meet payroll and buy new transcription equipment? Does lack of cash flow prevent you from expanding your medical transcription company and adding new clients?
If you answered YES to any of these questions, then PRN Funding’s medical transcription factoring program is the solution to your cash flow needs. Through the purchase of your accounts receivable-a process known as factoring, your medical transcription service can continue to grow, without compromising your present obligations to payroll and vendor invoices.
PRN Funding has spent the better part of a decade in the medical services industry, so we are acutely aware of the unique challenges faced by those who provide outsourced medical transcription services to hospitals, physicians’ offices and medical clinics.
We understand that well-managed, profitable small and mid-sized medical transcription services often experience cash flow difficulties as they grow rapidly or as their clients continue to extend the payment of invoices, and we have tailored a specific medical transcription funding program to meet the specific needs of your medical transcription service.
PRN Funding’s medical transcription accounts receivable factoring program includes:
- Funding within 24 hours: once your invoices are verified, cash will be deposited into your account within hours
- Customized programs: As a medical transcription service owner (MTSO), you have the freedom to factor when you want, how you want, whom you want and for however long you want. Programs are flexible to your needs and goals.
- Industry expertise and knowledge: We understand common procedures and terminology that are unique to the medical transcription industry.
- Specialized account managers: once you’re set up with PRN Funding, you’ll be assigned a specific account manager to guide you and answer any questions about the process or your account.