As you know, PRN Funding was invited to be a first-time exhibitor at the Private Duty Home Care Leadership Summit & Exposition in Las Vegas last week. We were grateful to have the opportunity to speak one-on-one with private duty home care agency owners about the benefits of home healthcare factoring, however, from the exhibitor’s perspective, the show was not a good one.

To start, there were a lot of last minute changes to the schedule. Hours changed, which made it difficult for exhibitors to set up their booths on time and/or catch flights on the last day. Luckily, PRN Funding didn’t have any issues with flights, so we were unaffected by the schedule changes.

In addition to the hour changes, exhibitors noticed that it was difficult for attendees to visit the exhibit hall. The show managers arranged to have a few 15-minute breaks in-between sessions, however, it seemed that most attendees used that time to go to the bathroom, run to their rooms quickly, return phone calls and emails and/or grab a quick cup of coffee before it was time for their next session. (Rightfully so–That’s how any professional attending a conference would use a 15-minute break.)

I’m sure it was frustrating for attendees who wanted to visit specific exhibitors but didn’t have the time to do so, or they had to choose between attending an educational session or skipping it to visit the exhibit hall. Rest assured that it was equally frustrating for exhibitors who stayed in the exhibit hall for long hours without the ability to conduct business.

The last big hiccup at NAHC’s Leadership Summit was that the entrance into the exhibit hall was in a different location than what was printed in the trade show materials. In essence, the exhibit hall was flipped. For all the exhibitors who strategically placed their booths in premium locations in the front of the exhibit hall ended up  being in the back.

On the plus side, John S. of Senior Home Care won the $100 Amazon gift card giveaway! Congratulations!

2011 will go down in history as the year the big banks stopped lending to small businesses. On the other hand, 2011 will also be remembered as the year alternative lenders came to the forefront of the small business financing industry. Specifically, Credit Unions, Community Development Financial Institutions (CDFIs), Micro Lenders and Accounts Receivable Factoring Firms all said YES to the majority of their small business financing applications while most larger banks repeatedly said NO.

Although a home health care agency owner could be approved for financing by any of the alternative lenders listed above, the best alternative financing option for them is to work with a home health care factor, and here’s why:

Home Health Care Factoring Creates Positive Cash Flow
Some Medicaid waiver programs can take up to a month to reimburse a home health care agency for its pre-approved non-medical in-home services. This lag in payments makes it difficult for new or growing home health care agencies to be able to meet payroll and other financial obligations. However, when home health agency owners sell their Medicaid receivables to a home health care funding firm, funds can be directly deposited into their bank account within hours. Instead of waiting weeks or months, factoring your home health care business gives business owners immediate access to cash…

Click here to continue reading more reasons why home health care agencies should use a factoring.

There are many reasons why a private duty agency would try to qualify for home care funding. However, the most common motive is that they cannot afford to wait weeks or months to be reimbursed by Medicaid or another governmental agency.

Without a constant inflow of cash, home care agencies run the risk of not having enough capital to meet payroll, pay vendors or grow their business. Fortunately, home care financing can provide the necessary capital to help struggling private duty agencies maintain a healthy cash flow.

Click here to access key questions that will help you decide if home care invoice funding is right for your private duty agency.

Las Vegas, NV-PRN Funding, LLC is excited to speak with private duty home care agency owners about factoring at the 7th Annual Private Duty Home Care Leadership Summit & Exposition at the Bellagio in Las Vegas.

Marketing Manager, Nikki Flores will be in booth #303 January 23-25 speaking with private duty home care business owners about how they can turn their receivables into cash immediately through private duty home care invoice factoring.

In addition to learning about invoice funding options, all attendees are invited to stop by booth #303 and enter our drawing to win a $100 Amazon gift card.

Click here to read the official press release: Private Duty Home Care Association Invites Factoring Firm as a First-Time Exhibitor.

Curious about PRN Funding’s healthcare factoring services?

Check out our 2012 Trade Show schedule. We’d love to see you if you’re planning on attending any of the shows below:

The Private Duty Today blog had an interesting post about social medial usage in the private duty home care sector. The private duty home care factoring specialists wanted to share some of the surveys findings with our readers, such as:

When the survey participants were asked How Important is Social Media to Your Future Success?, they responded:

46.8% - Yet to Be Determined
34.2% - Critical
12.7% - Important
6.3% - Not Important

What type of social media marketing as your company used?

88% - Company web site

63% - Facebook
48% eMail Newsletters
36% Twitter
35% Blog

Check out all of the results on Private Duty Today’s Blog Post: Social Media Marketing in Private Duty Home Care.

The National Association for Home Care & Hospice (NAHC) wrote a moving piece on their web site about Home Care and Hospice Month, and the home care factoring specialists at PRN Funding wanted to share some of the more interesting pieces of the post with our Factoring Blog readers:

Did you know that the President of NAHC met Mother Theresa 26 years ago? What’s more, she told Val J. Halamandaris that they both worked in the same business. Moreover, she specifically said, “I am essentially a home care and hospice nurse. We provide care wherever the poorest of the poor call home and offer a place of love when they are ready to meet God.”

The post goes onto read:

A day may well come when home care is the heart of health care in our country, but there are obstacles ahead. Possible cuts to Medicare home health may cause agencies to operate at a loss, and proposed Medicare co-pays might lead some seniors to say “no” to home health. If this occurs, those who cannot afford to pay for private care may wind up in a hospital after going without the care they need.

Let’s make sure this doesn’t happen because patients do much better at home, and it costs less than care in an institution. These are among the achievements of home care and hospice that we honor this special month. We must work together all year long to surmount the roadblocks that stand in our way. We owe it to our patients to win the last great civil rights battle of our time.

Click here to read the entire post: November is Home Care & Hospice Month.

Last week, PRN Funding exhibited at Decision Health’s 14th Annual Private Duty Conference at Caesar’s Palace in Las Vegas, Nevada.

Conference attendees had the opportunity to speak with the company’s President, Phil Cohen, and Marketing Manager, Nikki Flores, during exhibit hours to learn how they can turn their Medicaid receivables into cash immediately through home care invoice factoring.

The Private Duty Conference attendees were also encouraged to enter PRN Funding’s drawing to win an Amazon Kindle Fire. Dee H. of Always There In-Home Care was the lucky winner.

Congrats to the Amazon Kindle Fire winner - Dee H. of Always There In-Home Care

Las Vegas, NV-PRN Funding, LLC has been invited to exhibit at Decision Health’s 14th Annual Private Duty National Conference & Expo at the Caesars Palace Las Vegas Hotel & Casino November 2-4.

Conference attendees will have the opportunity to speak with the company’s President, Phil Cohen, and Marketing Manager, Nikki Flores, during exhibit hours. Non-medical home care agencies are invited to stop by booth #103 to learn how they can turn their Medicaid receivables into cash immediately through home care invoice factoring.

In addition to learning about invoice funding options, all attendees are invited to stop by booth #103 and enter PRN Funding’s drawing to win an Amazon Kindle Fire. The winner will be announced at the Networking Reception on Thursday, November 3^rd from 5:15 – 6:15 p.m. Winners must be present at the reception to claim their prize.

With years of experience in healthcare industry, PRN Funding has a precise understanding of the unique challenges within the private duty and home care industries. PRN Funding offers financial resources to these companies by purchasing their accounts receivable–a process known as ‘factoring’, which provides the cash needed to sustain and grow a healthcare business.

Last week, PRN Funding had the opportunity to exhibit at the National Association for Home Care and Hospice’s 2011 Conference for the first time, and we have a lot of mixed feelings and opinions about it.

From an exhibitor’s point of view, the show was slightly disappointing because out of a projected 1500 conference attendees, we only got to meet 350 of them!

However, those who stopped by had the opportunity to learn more about PRN Funding’s home care factoring services, and they were able to enter PRN’s iPad2 giveaway.

Special congrats goes to Cheryl from Apple Home Health Care who was the lucky winner!

Now we’re gearing up for Decision Health’s 14th Annual Private Duty Conference at the Bellagio Casino in Las Vegas next month!

Question: What did you think about the 2011 NAHC Conference?