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...]
Archives for 2016
10 Questions to Ask Before Signing a Factoring Contract
If you are considering factoring your receivables, you are probably already aware of its benefits. But other things are essential to know before you sign on the bottom line with a factoring firm. The most important is this: not every factoring firm is the same! Not only does every company have its own procedures and requirements, but some also have more experience in certain industries and factoring methods than others. Here is a list of questions you should ask before signing a factoring contract. 1. How many years has the company been in business? Over the years the factoring industry has grown considerably as more and more people realize factoring is an excellent method for increasing cash flow. However, with the increase in … [Read more...]
How to Get More Leads in the Factoring Industry
Looking to get more leads this year? We get it. The factoring industry is not always easy to promote. There are so many avenues a factoring company can take in order to appeal to potential clients. It is important to take into account all possible industries when you are promoting your factoring business. Every customer that comes to your site wants to feel included and have their voice heard. Just think if you were a small business owner looking for funding, what would speak to you the most? It might not always be easy to do, but it’s crucial to getting the leads that your factoring company wants. Don’t worry, you won’t have to think too hard. We have complied a list of best practices for increasing leads as clients come in … [Read more...]
Look Inside To Be Successful In Your Factoring Business
Whenever you watch a sporting event whether it’s baseball, football, hockey, basketball or some other sport, the objective is to score as many points as possible to beat your opponent. I usually score really high at my favorite sport--unfortunately it involves golf clubs and a little white ball. The same is true for the factoring business. Whether your company is a startup or a seasoned veteran your goal is to score points in the form of revenues while keeping expenses low and eventually turning a profit. There are tons of marketing strategies, that can range anywhere from hiring a salesforce to execute your game plan, internet marketing, social media, and a myriad of others that will best suit your company. Experience has taught us that … [Read more...]
Earth Day Tips For An Ecofriendly Factoring Business
April 22nd will mark the 46th annual Earth Day, an internationally recognized holiday that promotes environmental conservation and energy efficiency—does your factoring company/brokerage have a plan to contribute to the cause? If not, no worries—there is still time to come up with something. From making your factoring firm more ecofriendly to choosing an ongoing project with which to get involved, there are numerous ways that your factoring business can join the movement and do its share. In the office... Reusable Pens - The Secret Savior Some of the most wasteful products are those that you would never expect—disposable pens, for example. Each day, the Americans throw away more than four million disposable pens, all of which are … [Read more...]
Protecting Your Factoring Company From Cyber Fraud – Proxy Servers
As technology gets more advanced, so do cyber crimes; so how do you protect your factoring company from becoming the next victim? In today’s world, doing business with customers Nationwide has become much easier, thanks to the Internet. With the advancement of technology, comes new threats. As more business is done online, the less face to face encounters you will have with prospective customers. If you are a factoring company, operating in one office on the East Coast, it’s not very likely that you will be flying to the West Coast to meet a new potential customer. It’s more likely that most/all communications will be through, emails, web forms, text messages, chats, phone calls and a host of other online methods of contact. With that … [Read more...]