Vergennes, Vermont (PRWEB) September 7, 2007
1st Trust Factoring (http://www.1sttrustfactoring.com) is proud to offer new services to businesses that need to free up cash to keep their operations running smoothly. Invoice factoring is a very common practice in which the business sells their invoices to a factoring company that will pay them for the balances of the invoices immediately. This allows for companies to continue to pay their bills, upgrade equipment, and make payroll without waiting 30, 60, or even 90 days until the invoice is paid in full. 1st Trust Factoring represents many of these institutional investment companies, matching customers up with the company that is right for their needs.
Purchasing receivables can help many different types of businesses, including small and medium sized hospitals, doctor offices, clinics, diagnostic facilities, physical therapy facilities, medical supply companies, medical laboratories, MRI facilities, substance abuse centers, nursing homes, and any other health related services that bill third parties such as Medicare, Medicaid, and private insurance companies.
Invoice factoring allows for a company to raise the cash they need quickly instead of going to the bank for a loan. In short, factoring solves short term cash need problems that often exist in the medical and health services field.
When asked to give an example of the benefits that companies can expect with factoring, 1st Trust Factoring cited this example: "St. Joseph's Clinic was growing and adding more doctors and nurses. As a result, the clinic was also seeing more patients and billing more receivables to third party payers. There became a larger need for cash sooner than third party payers normally pay their invoices."
1st Trust Factoring went on to say, "St. Joseph's Clinic decided to approach a cash flow consultant to see how factoring could improve their current situation. The factoring consultant demonstrated that factoring not only provides the needed cash, but the profit picture of the clinic improves as well. The cost of factoring is less than the gross profit minus variable cost, which creates a a win-win situation all around, with a 400% return on investment improving net profit."
Because 1st Trust Factoring works with so many different companies within many different industries, they have a broad understanding of the necessary steps and required components that contribute to successful invoice factoring.
For more information about the services offered at 1st Trust Factoring, visit http://www.1sttrustfactoring.com.
About 1st Trust Factoring
1st Trust Factoring has been in business for four years, providing medical receivables consulting to many companies. The company is staffed by certified cash flow consultants who work to provide timely service to those who need to free up their cash. The company takes pride in their philanthropic activities, donating 10% of their profits to well known charities such as Heifer International and Habitat for Humanity.
( An http://IPRWire.com Press Release )
Name: Nancy Anderson
Address: 3282 Green Street
Country: United States