According to a study, from the Milken Institute School of Public Health at the George Washington University and The Commonwealth Fund, the effects of repealing the tax credits and Medicaid expansions could include: About 2.6 million jobs lost across all 50 states and the District of Columbia in 2019. And one-third (912,000) of the total 2.6 million job losses would be concentrated in health care; nurses, health technicians, and other medical personnel would likely be laid off in 2019. Recent analyses also show canceling the ACA’s tax credits and Medicaid expansion would double the number of uninsured Americans. As millions lose their insurance, hospitals and other providers would see their uncompensated medical care costs soar by $1.1 trillion from 2019 to 2028, and they would experience major revenue losses as well.
For many medical providers, the prospect of maintaining a positive cash flow will be daunting. Aside from the recent governmental insurance challenges, there are other financial issues to consider: Getting paid, rising operational costs, staff retention and keeping pace with technology to name a few.
Providing assistance in this area is Factoring firm MedFi, LLC, headquartered in Bloomfield Hills, MI, has launched a new medical funding service called MedFi 360. The MedFi 360 service is designed to address the range of financial issues faced by medical providers. In the area of medical funding, the firm offers assistance with such services as Factoring Medical A/R’s, Cash Advance Loans, Workers Compensation A/R Funding, and the buying of Personal Injury Liens /LOPs.
A unique aspect of MedFi’s new MedFi 360 service is the breadth of alternative funding services the firm offers. MedFi works with medical providers and facilities in all 50 states. The firm offers a wide array of qualified investors and funding entities to compete for the provider’s offers to ensure that medical providers will get qualified bids at the highest rates very fast.
Managing Partner, Leon Vickers and his associates have a combined 30 years of factoring and financial experience.