1st Commercial Credit Introduces Combined Medical Billing with Financial Solutions

1st Commercial Credit, LLC. Over the past several years, more and more medical practices have begun to outsource their billings to third party medical billing services. For many medical practices, however, finding financial institutions that are familiar with healthcare receivable financing has been difficult.

According to Raul Esqueda (President and founder of 1st Commercial Credit): “With healthcare receivable financing, the main problem that financial institutions face is monitoring the value of the collateral (receivables) on a real-time basis. Regulatory intervention and restrictive banking policies have created additional obstacles to meet this challenge. At 1st Commercial Credit, we have capitalized on this opportunity by offering InterMedBill (SM) Billing and Financial Solutions – a medical receivable finance program combined with a billing and collection service. The result is a cost of funds package similar to a bank at a prime plus based schedule. Also, the billing and collections option will be cost effective due to our innovative infrastructure.”

Medical practices in the U.S. can now choose one of three offerings from 1st Commercial Credit:

InterMedBill (SM) Financial Solutions – A program that offers working capital using healthcare receivables as the borrowing base. The monitoring fee structure is calculated on a per transaction basis and the financing on the advanced funds is prime plus based. Billing and collection services are not included in this program.

InterMedBill (SM) Billing and Collections – A program that includes billing, collections and accounts receivables management.

InterMedBill (SM) Billing and Financial Solutions – A combined program of receivable-based financing, billing, collections, monitoring and receivables management.

1st Commercial Credit, LLC, is a leading financial service provider of asset-based financing for the healthcare industry (available for medical providers who bill third-party receivables that may include Medicare, Medicaid and HMO’s).