I started with my first pharmacy in May of 2017. Being a pharmacy owner was harder than I originally thought. It takes a lot and I mean a lot of capital out of your own pocket to get going. My initial investment ended up doubling because I was not aware of the time it takes to receive reimbursements from the insurance companies. After about 6 months of just “getting by” I was wanting to be out of the pharmacy arena.
It was just a vicious cycle of putting more money out and waiting to be reimbursed. I needed to find another way! I did a phone introduction with Ed from Pharma Funding in December of 2017. It sounded great, but I was skeptical of the whole concept. After a month of the same routine I decided to give it a shot. My first tranche payment was on 2/23/18 for $346,630.35 covering a few weeks of prior claims. This was a game changer for me. Not only was I able to pay bills off in a timely manner but now I had extra capital to start growing. After another month of receiving these tranche payments I was able to breakout of the “getting by” feeling. Being able to access the receivables so quickly has allowed me to grow beyond what I thought was possible.
The process could not get any easier. Every Monday morning, I send my previous weeks report to Elizabeth or Linh. They then send the Purchase Addendum over. You sign and send back. The money is deposited into your account within 48 hours and you are off to the races! Ed, Elizabeth, Linh, and Celeste have all been wonderful to work with. I cannot thank them enough for what they and Pharma Funding has done for me.