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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 New York City Early Intervention Center (“Company”).

The Company is a nonprofit founded by a pediatrician, researcher and lecturer who is among the world’s leader in diagnosing and treating children with developmental disorders for over 40 years. Based on its Integrated Model, the Company provides not only assessment and diagnoses, but also an individual plan for each child. This may combine a variety of therapies including aspects of speech and language therapy, fine and gross motor therapy, sensory integration therapy, socialization with peers, developmental play skills and Applied Behavior Analysis (ABA) therapy. The Company is on a mission to bring the founder’s exceptional method of treatment to children from low-income families in underserved communities. The Company opened up its Bronx, NY location in September of 2018 and began enrolling new patients quickly. The Company gets reimbursements through government (federal and state) health insurance carriers and the reimbursements take thirty to forty-five days to get processed. In order to continue growing and adding new patients the Company approached Alleon to help it bridge the gap between when service is rendered and when payments are received.

Alleon was able to structure the transaction within one week as a factoring facility made up of medical receivables due from government health insurance payors with an advance rate up to 80% on eligible receivables.

“We were proud to help a Company performing such a good service for children and families in this community. Due to the Company’s fast growth, the Company had to hire additional staff and it was important that Alleon be able to fund within one week so as to ensure the Company was able to meet its payroll needs” said Ben Rutkevitz, V.P. of Business Development at Alleon. He added, “Alleon is especially proud to help a Company that is focused on helping children with development delays continue to expand and offer its services to more families”.