Blogs Invoice Factoring Medical Transcription Providers and Invoice Factoring

Medical Transcription Providers and Invoice Factoring

Medical transcription providers often get their accounts receivables tied up in a waiting game. Many healthcare providers outsource their medical transcription needs to large healthcare documentation companies. Companies like GMT, Viva Transcription, and Medscribe handle large amounts of medical transcriptions and deal with many different healthcare providers. What happens when one or many of their clients take 30-60 days to pay? There are cash crunches and strains on hiring more transcribers, meeting payroll and overall growth of the company. Invoice factoring can provide relief when working capital gets tough to come by.