A look at why factoring services for private duty care and home healthcare are dramatically different in this article from PRN Funding. Home care recipients enjoy the many benefits of care in the comfort of their own homes. It’s easier for family members to be involved in the patient’s treatment and care, and being at home allows patients to minimize the stress of a sudden dramatic change in environment. A practical and financially savvy solution to shifting … [Read more...]
What are the Differences Between Payroll Funding Companies and Invoice Factoring Firms?
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When a bank loan is an unobtainable financing option for a small business owner, he/she starts investigating alternative funding solutions. Two of the more frequently used alternative financing options are payroll funding and/or invoice factoring. At first glance, the two options may appear to be the same thing. Truth be told, there are many similarities between the two, but there are some core differences as well. … [Read more...]
Medical Staffing Invoice Funding – Tips For Managing Customer Fears
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Many medical staffing business owners worry that their customers (hospitals, nursing homes, medical clinics, etc.) will misinterpret their decision to factor as a signal of financial instability. In reality, deciding to get medical staffing invoice funding help is an encouraging indication that your medical staffing business is stable, rapidly growing, and in high demand. To help alleviate your concerns and to educate your customers about medical staffing invoice funding, consider the following: … [Read more...]
How Medical Supplies Companies Benefit From Factoring
Now more than ever, medical supplies companies are looking for alternative financing sources. Banks are not approving loans like they used to and recurring cash flow challenges for medical supplies companies are not going away. Medical supplies factoring has been evaluated in the past, but this alternative financing option is becoming a popular and convenient solution to cash flow problems. … [Read more...]
Factoring Medical Billing Companies – Frequently Asked Questions
A lot of questions can come up when a business owner starts researching medical billing funding solutions - the idea of selling their invoices to a factor or medical billing funding agency. This article addresses some of the more frequently asked questions … [Read more...]
Allied Health Staffing Factoring – A Financing Solution For Expanding Companies
The growing nurse shortage has been in the headlines for years, but there is another very real shortage that's also affecting our nation...the allied health personnel shortage. Defined as clinical healthcare professionals that assist physicians and nurses, allied health personnel are an important part of the healthcare system. Hospitals, nursing homes and clinics are beginning to feel the stress of the aging … [Read more...]
Healthcare Staffing Funding – Bank Loan or Accounts Receivable Factoring?
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When prospective healthcare staffing businesses compare factoring fees to bank lending rates, factoring almost always seems more expensive. Oftentimes, factoring prospects annualize the percentage charged by factors, extrapolating three percent per month to an interest rate of 36 percent per year. In the world of healthcare staffing financing, this scenario is like comparing apples to oranges. … [Read more...]
Factoring – How Medical Billing Companies Can Avoid the Double Credit Crunch
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In this economy, many service-oriented small businesses are struggling to obtain cash on two fronts - (1) Acquiring or extending a line of credit and (2) Getting their customers to pay in a timely manner. Outsourced medical billing providers are just one type of business that is being affected by the "double credit crunch." On the one hand, banks have … [Read more...]
Credit Squeeze Keeps Factoring Companies Busy
A small business owner who is trying to grow his/her business during a booming economy will hit some speed bumps when applying for traditional financing if he/she cannot show an extensive profitable operating history. Throw in the current economic climate, and the chance of an entrepreneur obtaining a conventional bank loan is slim to none. When loans are no longer an option, business owners have to find … [Read more...]
What is Accounts Receivable Factoring?
Cash flow problems often occur at the early stages of business development or during periods of rapid growth. Cash flow especially becomes a problem in industries where it's typical for completed work to go unpaid for 30, 60, or even 90 days after issuing the invoice. Thus, when growing companies start experiencing growth pains, they first try to … [Read more...]