Alleon Healthcare Capital (“Alleon”), 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., recently closed a $500,000 medical accounts receivable factoring facility with a management service organization in California (“Company”).
The Company provides enhanced care management and community support under CalAIM’s new program for Medi-Cal recipients. The goal of this program is to transition qualified patients from hospitals, nursing facilities and long-term care centers, to either an assisted living community or the patient’s home, thus lowering insurance costs drastically.
The Company approached Alleon with a request to leverage its medical accounts receivable to accommodate its growth. Alleon was able to structure the transaction as a factoring facility made up of medical receivables that are billed to commercial and government insurance carriers with an advance rate of 80% on eligible receivables.
"We are thrilled to partner with the Company, an organization that exemplifies excellence in providing high-quality and personalized products to the senior company," stated Ben Rutkevitz, Vice President of Business Development at Alleon. "This factoring facility represents a significant milestone in our commitment to supporting healthcare providers by offering tailored financial solutions within the sector."
About Alleon: Alleon Healthcare Capital, a division of Alleon Capital Partners LLC, is a specialty finance company focused on providing cash flow solutions for healthcare providers in the U.S. that are unable to secure financing through conventional sources. Since 2009, Alleon has worked with providers nationwide, as long as they receive payments from Medicare, Medicaid, Commercial Insurances, Private Insurances, HMO/PPOs, Managed Care, No-Fault/PIP carriers, Worker’s Compensation carriers, and Letter of Protection (Personal Injury) cases.
