Factoring Services in Healthcare Industry Market Scope
Healthcare factoring is a financing plan dedicated for companies in the healthcare industry that are struggling with cash flow issues due to outstanding invoices with net terms between 30 to 120 days. With healthcare factoring, medical companies can continue to save lives without having to worry about limited cash flow. Healthcare factoring is ideal for both vendors and providers because these types of businesses have the reputation of working with creditworthy, but slow-paying clients.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | PRN Funding, Inc. (United States), Viva Capital (United States), Charter Capital Holdings (United States), US MED Capital (United States), Xynergy Healthcare Capital (United States), Porter Capital (United States), Factor Funding Co (United States), LightStar Financial Services (United States) and New Century Financial (United States) |
CAGR | % |
Global Factoring Services in Healthcare Industry is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Factoring Services in Healthcare Industry market throughout the predicted period.
PRN Funding, Inc. (United States), Viva Capital (United States), Charter Capital Holdings (United States), US MED Capital (United States), Xynergy Healthcare Capital (United States), Porter Capital (United States), Factor Funding Co (United States), LightStar Financial Services (United States) and New Century Financial (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Riviera Finance (United States) and AGR Financial (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Factoring Services in Healthcare Industry market by Type , by Application (Medical Staffing Agencies, Nurse Staffing Companies, Home Health Care, Medical-billing-Factoring, Medical Coding, Medical Supply Companies and Others) and Region with country level break-up.
On the basis of geography, the market of Factoring Services in Healthcare Industry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2023, OrbVest launched a new platform offering integrated factoring solutions tailored for healthcare providers. This solution aims to streamline the receivables management process and improve cash flow.
In October 2023, Faktory introduced an AI-powered platform specifically designed for small and medium-sized businesses (SMBs) including healthcare practices. The platform utilizes AI to automate tasks and expedite loan approvals.
Influencing Trend:
The Complications of Insurance and Complex Layers of Bureaucracies that Delay the Payment of Medical Bills of Medical Companies or Professionals
Market Growth Drivers:
High Demand to Rising Ability to Collect the Account Receivable Being Purchased and Increasing Usage to Provide Relief through the Handling of all Invoicing, and Transfers the Responsibility of Collecting Payment from No-Pay and Slow-Pay Clients from the Provider to the Factor
Challenges:
Factor Collecting the Money On Behalf Of the Company Can Lead to Stress in the Company and the Client Relationships
Restraints:
High Cost Associated with the Factoring Services
Opportunities:
Increasing Demand For Factoring Services From Developing Nations and Rapid Growth of Economies Vis-À-Vis Infrastructural and Health Care Industry Growth
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Factoring Services in Healthcare Industry Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others