Archive for September, 2009

Results of New Health Care Reform Poll Are In

Wednesday, September 30th, 2009

A results of a telephone poll of 3003 U.S. adults that began on September 8 and concluded on September 17 are in, and the overall takeaway from the poll is that most Americans are willing to pay higher taxes to receive the best quality healthcare.

Conducted by Thomson Reuters, the survey also revealed the following:

    1. 35% believe that President Barack Obama’s reform agenda will lead to better health care
    2. 41% think the President’s agenda will lower costs
    3. 76% believe Americans deserve the best in health care
    4. 43% believe that they are receiving the best in health care right now
    5. 77% of those polled are currently satisfied with their doctors
    6. 68% are currently satisfied with their health insurance coverage
    7. 53% are currently satisfied with their out-of-pocket expenses

      Click here to read more of the survey’s results: Americans willing to fund health care reform-poll.

      Banks Review Business Owners’ Personal Credit Before Lending

      Wednesday, September 30th, 2009

      Smart Answers Columnists, Karen E. Klein, recently addressed an important question: Do business loans show up on personal credit reports? in a BusinessWeek article. Her response will come as a surprise to most business owners…Yes.

      Banks are starting to report small business loan payment histories to some of the top credit reporting bureaus, however, there’s no uniform policy in place yet. Plainly put, banks are starting to rely more heavily on consumer credit scores because personal repayment history has proven to be predictive of how likely a business is to pay back its loans.

      “It will depend on what bank you’ve got a loan with and what kind of reporting they do,” Jordan Peterson, senior vice-president for business banking at PNC Financial Services Group  said in the article. He suggests that small business owners ask their bank loan officer or bank manager about your bank’s policy on sharing business loan data with credit bureaus.

      Click here to read the entire response: Personal Credit Reports Reflect Business Loans.

      CA Facing Allied Health Shortage

      Thursday, September 24th, 2009

      According to a report issued by The California Wellness Foundation, by 2030, the state of California will need 988,000 allied health professionals.

      Similar to the nurse faculty shortage, the allied health workforce is experiencing problems with retaining educators because instructors get paid more money to work than to teach the profession. In addition, California’s state budget crisis is reducing the systems’ ability to offer classes due to high equipment and material costs.

      There is one positive note…About half of the allied health professional jobs that will be required in the state by 2030 are entry-level positions, meaning a high school education is all that’s needed.

      For all those allied health staffing agencies out there, it sounds as though CA is a good place to start marketing your services.

      Click here to read the entire article: Dire Shortage Seen in Allied Health Professionals.

      MTIA Member Reception Set for AHIMA Meeting

      Wednesday, September 23rd, 2009

      The Medical Transcription Industry Association will be holding a MTIA Member Reception at the upcoming AHIMA Conference. MTIA plans to share their plans to revamp the medical transcription association’s membership experience.

      The meeting with be held at the Gaylord Texan Hotel on Sunday, October 4 in Pecos 3 room on the Lobby Level from 6:30pm-7:30pm.

      PRN Funding Invited to Exhibit at Private Duty Expo

      Wednesday, September 23rd, 2009

      Las Vegas, NV–PRN Funding, LLC will be exhibiting for the first time at the Annual Private Duty National Conference and Expo from November 16-18.  The conference will be held at Caesars Palace in Las Vegas, NV.

      President, Phil Cohen, and Marketing Manager, Nikki Flores, will be on hand in booth #211 during exhibit hall hours. Private duty home care agency owners are encouraged to stop by the booth to learn how home care factoring can help them maximize their cash flow.

      With years of experience in healthcare industry, PRN Funding has a precise understanding of the unique challenges within the private duty home care industry. 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.

      Pinpointing Slow Hospital Job Growth

      Tuesday, September 22nd, 2009

      Is the recession responsible for the flat job growth in the hospital sector? Or, is something larger at play? Are we seeing a fundamental shift in the way healthcare is being delivered in this country? Is the idea of the single, monolithic brick-and-mortar hospital giving way to a more fluid contract where hospitals play a less-centralized role?

      Reporter, John Commins, attempted to answer these questions and more in his recent HealthLeaders Media article: What’s Behind Slow Hospital Job Growth?

      According to the Bureau of Labor Statistics preliminary August 2009 data, the overall health sector reported 27,900 payroll additions in August, while hospitals lost 700 jobs.

      One explanation for the trend is that the recessions has accelerated a long-term trend away from hospitals and toward the outpatient setting, senior healthcare analyst, David Bachman, said.

      Still, Kurt Mosley (VP of business development for Merritt Hawkins & Associates) blames hospitals’ slow job growth on the economy. However, he thinks the Obama administration and health care reform will really benefit hospitals. He said that  most of the $20 billion that will be set aside for electronic medical records will be funneled through hospitals.

      Business Owners Find Ways to Finance in Tough Times

      Tuesday, September 22nd, 2009

      A report for Business First recently wrote an article about entrepreneurs in Columbus, Ohio who are finding unique ways to obtain financing in a down economy. We’ve summarized some of the key points below:

      One business owner applied for a Wheeler Entrepreneurship Enterprise Program grant from The Ohio State University’s Fisher College of Business, which cover the costs of interns. In addition, the interns brought a lot of their own equipment (i.e.) laptops, so the business owner didn’t have to pay for computers.

      The same business saved on office space by setting up shop in German Village’s Qwirkm which is a collaborative for independent professionals can work together for a low monthly membership.

      Another business owner saves on office space by having it’s employees work from home and communicate virtually. In addition, the owner often barters for services with other companies.

      Some small companies can also take advantage of an incubator, which is a way for people to advance their ideas and get a funding stream, according to the VP of Park National Bank.

      What’s more, small business owners can take advantage of accounts receivable factoring to help even out their cash flow during this tough economic times.

      Click here to read the entire article: Small-business owners find ways to buck financing trends.

      Transcend Acquires Medical Dictation Services, Inc.

      Thursday, September 17th, 2009

      From time to time, PRN Funding’s medical transcription factoring specialists are asked the following question: What is going on in the medical transcription industry as far as mergers and acquisitions are concerned?

      That’s why we took the time to report on Transcend Services’ recent acquisition of Medical Dictation Services, Inc. (MDI).

      At the end of August, Transcend Services, the third largest provider of medical transcription services to the U.S. healthcare market, announced that it would acquire Medical Dictation Services, Inc. for $16.2 million.

      In a press release issued August 26, MDI Chief Executive Officer, Dorothy Fitzgerald, said: “I recognized that we needed a larger partner to achieve our long-term growth objectives. A critical concern for me was to find a partner that recognized MDI’s potential and was committed to providing excellent customer service.  I am convinced that Transcend is the best partner for MDI, it’s employees and customers.”

      KPMG Corporate Finance LLC and Suender M&A Advisors initiated the transaction and co-advised MDI.

      Click here to read the entire press release: Transcend Announces Acquisition of Medical Dictation Services, Inc.

      2009 National Staffing Employee Week

      Tuesday, September 15th, 2009

      The American Staffing Association (ASA) has estimated there are 2.7 million temporary and contract employees who work for staffing firms in the U.S. every day.  To honor these workers, from September 14-20, is a week devoted to them.  There will be planned luncheons, banquets, and office parties throughout the week.

      The ASA has given some tips on how to improve your event this week.

      • Place thank-you stuffers inside check envelopes
      • Give out award certificates to all of your employees
      • Send thank-you postcards to clients to thank them for their business
      • Spread the word about your event by sending a press release to your local media

      Materials for the tips listed above can be found at americanstaffing.net.

      Staffing Industry Growing as U.S. Comes Out of Recession

      Monday, September 14th, 2009

      According to the American Staffing Association (ASA), the demand for temporary and contract workers increased significantly from July to August.  After 35 years of the ASA collecting data at, analysis shows that temporary help employment growth and gross domestic product is strongest when the economy is coming out of a recession.

      Since the end of June, the index has grown in seven consecutive weeks (the longest consecutive growth in 21 months).  It is at its highest level this year despite being down overall from June 2006.

      The index is evidence that the recession is close to being over.

      To get more information about the ASA Staffing Index, go to americanstaffing.net.