Drive Medical Launches Credit Company

Drive Medical has launched Drive Credit Company, which the manufacturer describes as its "new financing division designed to provide cashflow options to providers through its new C.F.O. (Cash Flow Options) Programs."

A news announcement about the new division noted, "These programs are being introduced at a time when the changing industry dynamics are heightening the challenges facing durable medical equipment providers, who need more help with managing their cashflow. As a leader in the industry, Drive's leadership recognizes the need to offer new and innovative solutions to its customers, to help their businesses thrive. It is this orientation that led to the formation of this new division and the launch of the C.F.O. Programs."

Drive's chairman/CEO, Harvey Diamond, said, "We recognize that it is critical for us to be at the forefront of change and support our customers through the dynamics of our industry and its reimbursement environment."

The C.F.O. Programs are designed to offer flexibility and customization to enable suppliers to tailor programs to their specific needs, said Drive Medical President Richard Kolodny. He added that program offerings include establishing specific lines of credit for financing, seven months' "same-as-cash" arrangements with five equal payments, and 24-hour turnaround time for approvals.

To contact the Drive Medical (drivemedical.com) financing division, e-mail finance@drivemedical.com, or call (877) 224-0946, extension 4267.

About the Author

Laurie Watanabe is the editor of Mobility Management. She can be reached at lwatanabe@1105media.com.

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