Alleon Healthcare Capital, a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., closed a $3.2 million medical accounts receivable factoring facility with a Texas county hospital.
The company is a full-service public hospital which has been servicing its community for over 80 years. It approached Alleon to help it qualify for reimbursements from a federal health insurance program. The federal program requires that hospitals contribute funds into a pooled account in order to receive payments for uncompensated care.
Alleon structured the transaction within three days as a factoring facility made up of medical receivables due from federal health insurance payors with an advance rate up to 80% on eligible receivables.
“We were proud to be able to pull this together for the company within an expedited time frame. This hospital has been providing invaluable services to its community for many years and Alleon is excited to be a part of its cash flow solution going forward.” said Ben Rutkevitz, vice president of business development at Alleon. “Especially today, with so many struggling hospitals across the country, it is important for us to be able to help hospitals maximize their reimbursements for funds they are entitled to.”
