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The Purchasing Program
The Funding Process
The Results
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What is the Purchasing Program?
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MRI's customized purchasing program allows for the direct purchase of eligible third-party receivables generated by a healthcare provider, allowing the provider to find new growth from monies tied up in receivables.
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Providers receive initial cash funding equal to a percentage of the amount expected to be ultimately collected (ie, the expected revenue) as determined by MRI.
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The value of the accounts receivable is based on each client's historical data including payor mix.
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Funding is generally based on the provider's historical experience in collecting similar types of accounts receivable in each financial class.
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Eligible third-party healthcare receivables include those payable from Workers Compensation (except Personal Injury), Self Pay (less thatn 20% of entire portfolio), Champus, BCBS, HMOs, self-funded health plans, and other private insurers.
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The credit enhancement option may provide additional credit support via "patient responsibility" and "self-pay" claims, based on a percentage of anticipated collections as determined by MRI.
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"Automatic Trigger" options for funding of ongoing backlog receivables are available upon request.
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