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One of my companies sold to hospitals. They are the WORST with payables. Unbelievably bad. It was terrible. We eventually were coached by a very friendly client
by vessenes 12y ago
One of my companies sold to hospitals. They are the WORST with payables. Unbelievably bad. It was terrible. We eventually were coached by a very friendly client who had pity on us.
We ended up raising prices something like 30% and offering discount terms like 15 day 30% discount.
They never once paid on time for the discount, although we would sometimes get paid in 30 days at the higher rate. (Typical pay rates at the time were Net-180 to Net-270).
So, price it up, and show it as a discount. A good customer inside an enterprise should be sympathetic; if you're good, you can turn it into you and your customer against the customer's payables department. You can say "tell me the real story on payables", and "I have to get paid faster than that or I need more cash than we talked about" to many of them.