Author Archives: Rick Ament

About Rick Ament

Health care executive Rick Ament presently serves as the President and Chief Executive Officer of Superior Healthcare System. Ament brings a history of progressive management, hands-on leadership, and team development to his work as he guides the strategic direction of the company. His many responsibilities include recruiting providers, increasing patient satisfaction, and developing the company’s organizational plans. An active leader and visionary, Rick Ament participates in the Legislative Policy Panel and the Business Advisory Council for the Michigan Health & Hospital Association. He also acts as an Officer of the Lake Superior Community Partnership and the Upper Peninsula Health Care Network. He is a Fellow of the American College of Healthcare Executives and previously served as a Board Member of the Wisconsin Hospital Association. Prior to joining Superior Healthcare System, Rick Ament served as the President of Beacon Leadership Group in Mattawan, Michigan. In this hands-on role, Ament supported the executive management teams, CEOs, and physicians at health care facilities. He led strategic partnerships, facilitated the startup of a new hospital, and assisted a client with achieving Critical Access Hospital status. In addition to his many professional achievements, Rick Ament earned the Young Healthcare Executive of the Year award in 1996 and went on to earn the Great Comeback award from the Hospitals & Health Networks. The Bell Foundation and Bell Hospital received the LSCP Distinguished Service Award in 2007 and 2009, as a result of Ament's efforts. Before beginning his professional endeavors, Rick Ament attended Virginia Tech University in Blacksburg, Virginia, where he earned his Bachelor of Arts in Political Science. He went on to study Health Services Administration at Central Michigan University and earn a Certificate of Advanced Studies at The Ohio State University.

Rick Ament Receives Healthcare Award

Rick Ament was awarded the Hospital and Health Networks Magazine’s Great Comebacks of the Year award. Read the write-up here. Great Comebacks.

Medical Receivables Factoring

The opportunity cost of Accounts Receivable sitting on a healthcare organization’s books rather than working for the organization in the form of cash can be high. Turning your organization’s non-liquid assets into cash allows it focus on service while maintaining financial prudence. As discussed in previous blogs (Accounts Receivable Financing or Asset-Based Lending) there are many ways to turn accounts receivable into cash. Medical Receivables Factoring is one of the ways.

Definitionally, Medical Receivables Factoring is “the selling of a medical company’s accounts receivable, at a discount, to a factor, who then assumes the risk of the account debtors and receives cash as the debtors settle their accounts.” In a factoring arrangement, the lender becomes the main point of contact for collections. What this means for your organization is that the burden of collection is no longer yours, yet the cash from the services offered are available immediately for use.

How Medical Receivables Factoring Works

1) The factor company purchases trade accounts receivable (invoices) for up to 85% cash immediately. The title to the accounts receivable then pass to the factor company who then begins collection of the invoice.

Medical Receivables Factoring

2) Upon collection of the invoice, the remaining value of the invoice less a fee is delivered to the client. The fee is usually 3%-5% for invoices collected within 30 days, and 1.5%-2.5% for each 15 days thereafter.

Medical Receivables Factoring2

While the fee and advance amounts are subject to the individual agreement, the way medical receivables factoring works allows a healthcare organization to essentially outsource its collection department and turn receivables into cash immediately.

Differences between Factoring and Traditional Asset-Based Lending

Other forms of asset-based lending include using assets such as equipment, inventory, and purchase orders to secure loans. While these are effective ways to leverage your assets for cash, it is helpful to look at the differences between traditional forms of asset-based lending and factoring.

Asset-Based Lending Accounts Receivable Factoring
Good Financial Statements Required No Financial Statements Required
Two Years TIB Minumum No Minimum TIB
Good FICO Score Required FICO Not considered
Personal Guarantees Required No Personal Guarantees
Prime Plus 2-6% 3% for 30 days, 1% each 10 days after
60-90 day closing time 3-7 day closing time


Medical Receivables Factoring provides Credit Protection

Since Medical Receivables Factoring is non-recourse, client healthcare organizations do not need to worry about bad debt; once receivables are sold, the credit risk is transferred to the lending factor. Using sophisticated credit tools, the lending agent determines the credit capacity for each debtor, thus allowing a client to better manage its relationship with each debtor. Factor companies essentially act like an outsourced accounts receivable, credit, and collections management agency.


Regardless of your specific cash needs, factoring can be a valuable option in your financing repertoire. The ability to immediately access the cash value of your receivables while essentially outsourcing your collection and credit departments can be very helpful for your prudent healthcare organization.

For more information on factoring or to speak with one of our professionals about how we can tailor a medical receivables factoring program for your organization’s needs, contact us here or call us at 906-361-0394

About Rick Ament

A hospital executive for more than two decades, Rick Ament builds a culture of sustainability in these organizations through his firm, SOS Partners. The Wisconsin-based company merges green business practices with process improvements. By marrying the two, Rick Ament aims to deliver a greater return on investment for hospitals while promoting environmentally conscientous solutions while engaging staff..

Rick Ament started the business after identifying a need in the health care industry. Earlier, the award-winning executive spent years as a CEO, President, and consultant to nearly three dozen health care institutions. 

Mr. Ament’s experience has spanned nonprofit, governmental, and investor-owned organizations. He has turned around faltering hospitals, including the Bay Area Medical Center, which was named Turnaround Hospital of the Year during his time as CEO. While he was there, he and his team instituted reforms that improved its profitability by 300 percent and admissions by 12 percent. 

A fellow of the American College of Healthcare Executives, Mr. Ament holds a Master of Hospital Administration from Central Michigan University.

Rick Ament’s Resume

Health care executive Rick Ament specializes in leading hospitals to greater efficiency and profitability. Stationed in Green Bay, Wisconsin, and working in the upper Midwest, Rick Ament commands over 25 years of experience in hospital management. Ament, the recipient of numerous awards, currently heads SOS (Strategic Organizational Sustainability) Partners, a firm that provides strategic consultation with sustainable practices for hospitals. SOS’ philosophy encompasses the triple bottom line: people, planet, profit. Under Rick Ament’s direction, these three goals interact with each other to ensure that obtaining present resources does not prevent the meeting of future needs. The organization holds that environmentally friendly operations constitute the first step toward sustainability. Ament started SOS in November, 2011, and signed clients the next month. Ament’s skills in creating change extend also to hospitals that need financial overhauls. For example, Hospital and Health Networks magazine selected Ament and his associates for its Great Comebacks Award. At Bay Area Medical Center in Marinette, Wisconsin, his team initiated a nationally nranked customer service program. Other changes included downsizing of management, recruitment of physicians, and growth in admissions. As a result of his interventions, the hospital achieved a revenue increase of 43% and a profit jump of 300%.

Rick Ament on Zerply

Senior Health Care Executive

Rick Ament – Quora

Health Care Executive. For over two decades, Rick Ament held executive positions within hospitals operated by for-profit ventures, government agencies, and nonprofit organizations. Mr. Ament cultivated a record of accomplishment in reversing the downward turn in financial performance by numerous …

Rick Ament – President / CEO – Health & Fitness | XING

President / CEO – Superior Healthcare System