Don’t let the term medical receivable fool you. The rapid growth in home health care is creating opportunity in the factoring industry similar to traditional staffing. According to a (not surprising) 2010 AARP survey, 9 out of 10 older Americans said they’d rather be cared for in their homes than in a nursing home. As the baby boomer generation ages, Medicaid had to evolve to meet the needs of this large demographic. The Affordable Care Act (ACA) introduced a number of new incentives that made it possible for seniors and the developmentally disabled to receive care in the comfort of their homes, rather than moving into nursing home facilities. The ACA created new options and incentives to encourage states to provide home and … [Read more...]
New Medicaid Incentive Creates Opportunity for Home Care Factoring Growth
An Affordable Care Act program designed to incentivize home and community care over nursing homes will create a huge growth opportunity for home care staffing agencies in participating states. The Balancing Incentive Payments Program is a $3 billion dollar program that will match state spending for alternative care at higher levels through September 2015. To qualify, participating states must have lower than 50 percent current Medicaid spending on home and community care. They must also demonstrate that they are making it easier for patients to access treatment alternatives to nursing home facilities. Seventeen states are currently participating in the Balancing Incentive Payments Program: Arkansas, Connecticut, Georgia, Illinois, … [Read more...]
How Factoring Benefits Private Duty Care Agencies
Now more than ever, private duty care agencies and home healthcare companies need cash flow to sustain their operating expenses, such as … [Read more...]
Investor Spotlight: Healthcare Factoring with PRN Funding!
Factoring account receivables is helping health care companies through these tough economic conditions opening the door to earning opportunities for cash flow consultants. FactoringInvestor (FI) caught up with Phil Cohen, Founder and President of PRN Funding, LLC, to fill us in on the specialized niche of healthcare funding. … [Read more...]