MedicaFund
 


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 MedicaFund Clients.

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.