Growing and expanding a private medical practice in today’s current economy can be quite a challenge. The coronavirus pandemic has changed everything about the way we live our lives and handle the operations of our businesses, including the qualifications for small business financing. After paying staff, overhead, and expenses, it can be difficult to find the capital necessary to do what is needed to help the practice grow. This is why more and more healthcare businesses are looking for financial options to fund their growth.
The current healthcare environment is increasingly focused on efficiency, making it difficult for small practices to find the time or resources to foster innovation or out-of-the-box thinking, especially in a clinical practice setting. However, healthcare consumerism – the tendency for patients to act more like customers, with the same price sensitivities and willingness to “shop around” – has, to a degree, started to force the hand of many healthcare-centered businesses in this regard.
Technological advances keep coming, and as they are more commonly adopted, the expectation from patient-consumers that they will be available to them wherever they go will only increase. Also, innovation is strictly necessary in order to provide the best care, but that doesn’t make it any less of a financial investment.
Now, more than ever, it can be difficult for healthcare providers to find outside financing, especially funding that is customized and at the appropriate scale for their needs.
Introducing Lines of Capital from Aquina
Praxis™ by Aquina offers fast and flexible Lines of Capital (LOC) for healthcare practices. LOC are great for capital projects, hiring staff, expanding real estate, and purchasing equipment. LOC provide the working cash you need to grow your business and achieve your goals with repayment terms unlike anything in the industry. How it works:
- Apply online: It’s fast and easy to apply with no impact to your credit score.
- Draw funds: Access to a revolving line and draw funds as you need them. Funding as fast as the next business day.
- Make repayment: Aquina offers AdvancedMD clients and your healthcare practice an exclusive healthcare repayment model: fixed monthly or weekly payments.
Interested in finding out more about how Praxis™ Lines of Capital can help your practice? Contact Aquina today.