Boca Raton, FL (PRWEB) July 15, 2008
Sun Capital HealthCare, Inc. (SCH) has been selected to join HME Providers' vendor alliance program as a preferred provider of a customized, innovative healthcare industry-specific Medical Account Receivables (MAR) funding program as a working capital source for HME Provider's business members.
HME Providers offers its members selected tools to help them grow and be profitable. The organization searches the home medical equipment industry for services that will benefit its membership in all areas of the industry such as SCH's medical account receivables funding program, which serves as a viable working capital source for healthcare businesses. Currently, HME Providers offers more than a dozen vendor business-to-business alliances and passes all special program savings onto their members, with zero financial gain for itself.
"SCH's Medical Account Receivables (MAR) funding program has been a proven successful tool for generating debt-free working capital for healthcare businesses in growth mode or fiscal stress," noted HME Providers' Jennifer Sowards, Chief Operating Officer. "We are proud of our new vendor alliance relationship, as we know that Sun Capital's services will be of tremendous support to our members"
According to Senior Vice President of Business Development Jim Beutel, Business Development Jim Beutel, healthcare organizations, including home medical equipment and durable medical equipment providers, hospitals and healthcare networks, skilled nursing facilities, rehab centers, imaging centers and other specialty providers can all benefit from SCH's service.
Healthcare executives have found SCH's MAR funding program successfully utilizes a currently available and non-performing asset - medical account receivables - to provide immediate working capital for a healthcare business, which is needed to create a monthly cash flow plan, meet payroll and overhead, reduce debt, and cut costs by using cash discounts.
Because SCH does not impose restrictions - as banks often do - on how the funds must be used, SCH- funded healthcare businesses are free to use the funds for a variety of working capital or cash flow needs, including the purchase of additional inventory or expanding into new revenue streams, upgrading of equipment as well as systems and software, enhanced employee development and training or the expansion of existing facilities.
Beutel noted that not only is medical account receivables funding debt-free, it grows as patient volume and claims increase, boosting liquidity while maintaining debt capacity. The SCH program's flexibility and immediate cash infusion reduces dependency on debt-incurring bank loans and lines of credit as a healthcare business's sole form of acquiring working capital. It provides a predictable and steady cash stream and the amount of medical account receivables funding is not limited by a bank's often under-valued assessment of the provider's assets.
Sun Capital HealthCare, Inc. is headquartered at 999 Yamato Road, Third Floor, Boca Raton, FL 33431. For more information on SCH's medical account receivables funding program as a working capital source for healthcare businesses, or SCH vendor alliances, call Jim Beutel at 800-880-1709 or via e-mail at jim(at)suncapital.com.