Home healthcare agencies
can use factoring to finance their businesses.
Managing your agency’s cash flow is vital to the success of the business, second only in importance to providing quality care to patients. Oftentimes though, because cash flow can be tough to predict and control, it causes agencies numerous financial difficulties.
Improve your business cash flow
by using invoice factoring.
Home healthcare factoring is a type of financing that allows home healthcare providers to receive funding for their invoices. This type of funding can be beneficial for home healthcare providers as it can provide them with much-needed cash flow to help run their businesses.
Ready to start invoice factoring?
Complete the form or contact us for more information. We’re happy to help!
Home Care Financing
Invoice factoring is a great way for home care agencies to get the financing they need to keep their business running smoothly. There are many benefits to using a factoring company, including the ability to get funding quickly and easily, and the fact that you can use the money for any purpose you need.
Home care agencies can get funds within 24 hours by factoring in their invoices. This is a great way to solve the common problem of slow-paying customers. Home care agencies can use the money to pay their employees, buy supplies, and keep the business running smoothly. instead of waiting months to be paid from the following:
- Third-party insurance companies
- Medicaid
- Medicare
How does healthcare home receivables factoring work?
Factoring is an alternative to loans that allows you to get cash for your outstanding accounts receivable. If you sell your home care invoices, a factor will give you cash right away. It’s your money, not like a loan.
- Government fees taxes
- Operating Expenses
- Caregiver Payroll
Some of the benefits of home health care factoring include lessening your spending on administrative tasks like billing and collections, as well as freeing up more time for you to focus on running your agency.
With home healthcare factoring, you can put your focus on patient care rather than funding. With consistent funding and the ability to cover all expenses and manage expansion, your home care agency will be in good shape moving forward in this rapidly growing industry.
Funding
for Home
Healthcare Businesses
Home healthcare providers usually experience slow payments from third-party payers and government agencies, like Medicare or Medicaid, which can then make issues access to vital cash flow. Home healthcare accounts receivable factoring immediately improves cash flow.
If you provide at-home services to those who require help with activities of daily living, then receivables factoring would be ideal for your business, including:
- Adults aged 60+
- Disabled people
- Those who are recuperating from an illness or surgery
- People with long-term health conditions
If you have outstanding receivables, you can start factoring. Accounts receivable financing is easier than other lending options, there’s nothing to repay – so no added debt!
Can Your Home Care Agency Benefit from Accounts Receivable Factoring?
Turn to factoring when your home health care agency is in need of cash flow support for any of the following reasons:
- Your agency is small and new or has bad credit.
- You need money quickly.
- You want to hire additional caregivers
- Your agency is looking for ways to improve its working capital
- Your bank loan application was denied.
- If you need funding quickly to cover payroll, taxes, and other agency expenses.
- You need funding soon to meet payroll, taxes, and agency operating expenses
