MedicaFund, LLC is a Medical Claims Financing
Company which commenced operations in 2000 and has
been successfully financing medical receivables to
Medical based Practitioners since that time.
The company maintains an exclusive financing
arrangement with its Practitioner’s enabling its
Practitioner to improve their cash flows through the
collateralization of their medical services.
MedicaFund requires its Practitioner's to submit their bills
directly to MedicaFund so that the bill can be
processed through the proprietary claims payment
system iHCFA.com. This system collateralizes each
bill following standard HCFA guidelines and the
Company requires that all bills will be processed
through MedicaFund until the Practitioner has paid
back amounts advanced.
An advance funding Agreement is executed with all
Upon the Practitioner submitting a claim that meets
pre determined parameters, the Practitioner is
advanced funded based upon a contractual fee
schedule. Each advance funded claim is uploaded into
the MedicaFund system to allow for the continued
maintenance of a detailed file, by account, of all
claims, this represents MedicaFund’s collateral.
MedicaFund requires its Practitioner to deposit all
of their receipts through MedicaFund. On a daily
basis, MedicaFund processes each payment and its
systems match individual payments against the
MedicaFund database. If an account has been advance
funded, MedicaFund applies the money received and
related interest toward its repayment. The remaining
monies are applied to any accounts that have been
advance funded and which have come due in accordance
with the lending arrangement between MedicaFund and
its Practitioner. The balance is remitted to the
Practitioner on a weekly basis.
All advanced funds are collateralized by the
Practitioner bill protecting MedicaFund from
unnecessary financial exposure.
The ability to advance fund its Practitioner is the
result of technology that utilizes a unique system
of controls that monitor the funding, payments and
reconciliations. The entire process is electronic,
and it can be completely audited at the least level
of detail. MedicaFund has not experienced any losses
from funding its Practitioner largely as a result of
this technology and the arrangements of its
Practitioner with their insurance Carriers.