With an average yearly customer retention rate of 15%, banks are always looking for ways to generate and close new leads. But when the cost of finding and attaining new borrowers is so high, this activity can be a serious drain on your resources.
Medical lending comes in many forms. From practice loans to medical school debt financing, banks recognize the value of partnering with the healthcare industry. And they’re responding to your biggest problems with a robust portfolio of loan services.
According to a recent report by Bain, M&A activity has been ramping up in the healthcare industry. Last year, total deal valuation reached an all-time high of $435 billion, an amount that is only expected to increase in 2019 and beyond.
In 2018, a prominent Illinois hospital reported a $92 million accounting error after discovering they had heavily overestimated their accounts receivable (AR).
