Managing cash flow is one of the biggest challenges healthcare providers face. Dealing with delayed insurance reimbursements, inconsistent patient payments, and rising costs? These challenges can make it tough for practices to stay on track or get ahead.
Many healthcare practices have traditionally turned to receivables factoring to address these issues. However, this process, which involves selling outstanding invoices to a third party for immediate cash, comes with drawbacks that often outweigh its benefits.
Chello offers a better solution: business credit lines for medical practice tailored to meet the unique financial needs of private practice doctors. Here’s why providers are choosing Chello over receivables factoring for their medical practice funding.
Receivables factoring involves selling unpaid invoices to a third party (a factoring company) at a discount in exchange for immediate cash. While this may seem like a quick fix, it comes with several limitations:
While factoring may provide short-term cash flow, its long-term costs can limit the growth and stability of your medical practice. For healthcare professionals looking for a more reliable option, there’s a better way forward—medical practice funding from Chello.
How is Chello different from factoring? Here’s a breakdown of how our medical business credit lines for doctors work and why it’s better for your practice:
Factor | Explanation | Benefits To Your Practice |
Transparent, Predictable Costs | Chello’s credit line offer transparent pricing with no hidden fees and predictable weekly payments. | Easily plan expenses and avoid surprises with consistent costs. |
Retain Control Over Revenue | Chello keeps collections within your practice, avoiding the need for third-party involvement that can disrupt patient relationships. | Maintain patient trust and protect your reputation. |
Flexible Access to Funding | Credit lines aren’t tied to invoices; funds can be approved in as little as 24 hours. | Quickly address payroll, equipment upgrades, or emergencies. |
Support for Practice Growth | Funding can be used for improvements, marketing, or other growth initiatives with no lost revenue. | Identify cash flow issues early, invest in growth, and improve financial health. |
Healthcare practitioners choose Chello because it combines financial reliability with tools tailored to their needs. Professionals in specialties like primary care, dental practices, and physical therapy trust our platform for these reasons:
If considering receivables factoring, why not explore a smarter, more sustainable alternative? Chello’s medical business credit lines provide the transparency, flexibility, and support you need to thrive in today’s competitive healthcare environment.
With Chello, you’ll gain access to quick, reliable funding without compromising control over your revenue or patient relationships. From real-time financial analytics to flexible funding options, Chello helps you take care of the business side of the practice so you can focus more on delivering exceptional patient care.
If you are ready to improve your cash flow and support your practice’s growth, apply for medical practice funding today.