Archive for February, 2010

Looking for an Article on Factoring?

Tuesday, February 23rd, 2010

Have a question about invoice funding that hasn’t already been addressed on The Factoring Blog? Mosey on over to PRN Funding’s Web site, where healthcare business owners and cash flow factoring professionals can find a wealth of information.

PRN Funding’s president, Phil Cohen, has been busy writing various articles about factoring over the last few months. Have you been keeping up? Check out the Factoring Industry News section of our web site for his most recent contributions.

Choose from article topics like…

  1. Comparing Bank Loans to AR Factoring
  2. Top Five Reasons to Factor
  3. Factoring Fees Defined
  4. Ways to Secure Funding in a Bad Economy
  5. Benefits of Home Care Factoring

Happy browsing!

PRN Funding Introduces Real-Time Web Communication

Wednesday, February 17th, 2010

By integrating new technology into its Web site, PRN Funding, LLC has made it even easier for healthcare factoring prospects to communicate with the firm over the web.Specifically, users now have the option to Chat Live via Meebo and have their questions about invoice funding answered in real-time by one of PRN Funding’s factoring specialists.

For those who feel more comfortable asking questions over the phone, a new short form was added to the web site, in which users can fill in their name and number, and a factoring specialist will call within 15 minutes. These two new web communication outlets are available on every page of PRN Funding’s Web site during business hours. In addition, the invoice funding firm also added quick-link buttons to various Social Media outlets where the company is active. Social media icons are now conveniently located on the bottom of every page for those users who are interested in communicating with PRN Funding via The Factoring Blog, YouTube, LinkedIn, and Twitter.

Click here to read the official press release: PRN Funding Introduces Real-Time Web Communication.

BusinessWeek – Disposable Worker

Tuesday, February 16th, 2010

Did anyone happen to catch the article: The Disposable Worker in BusinessWeek last month? If not, don’t fret, the invoice factoring specialists from PRN Funding took the time to summarize some of the interesting article’s main points below:

These brutal economic times has prompted more companies to use temporary workforces. Utilizing temporary employees gives these companies the ability to add and let go employees quickly and easily, relieving them of any kind of fixed costs. Their approach has created an era of disposable workers that will cause lasting damage.

“Older people who lose their jobs are often forced into premature retirement, while the careers of younger people are stunted by their early detachment from the working world.” Through their actions, many employers are laying the groundwork for employees to become alienated and dispirited.

Moreover, there’s a new trend in upper management, in which bosses are no longer rewarded fpr the number of people they supervise. Rather, they are rewarded for short-term profit performance obtained with less staff.

In addition, the article explained how offshoring has increased during the recession. Economists believe that most jobs shipped overseas will remain offshore even when things start improving in order to help companies continue to keep costs down.

The article referred to the European temporary market model as a way to improve conditions in the U.S. At least in Europe, part-timers and temporary workers receive government health insurance and are required to receive wages and benefits comparable to permanent employees.

AMN’s 2010 Survey Reports RNs Switching Jobs Soon

Thursday, February 11th, 2010

AMN Healthcare recently reached out to over 1000 Registered Nurses and asked them to complete a survey related to job-satisfaction, and the results are in:

    1. 44% are ready to make a career change within 3 years
    2. More than 1/3 are unhappy with their current job situation
    3. Nearly 60% currently hold full-time permanent positions at a hospital
    4. 15% plan to switch jobs if the economy improves within the next year
    5. 28% said they agreed with this statement: “I will not be working in this job a year from now.”
    6. 46% of nurses agree with the statement “I worry this job is affecting my health.”
    7. 29% plan to leave the nursing profession completely within the next 1-3 years
    8. 55% believe that the quality of care that nurses provide today has declined compared to when they started in nursing
    9. 36% said they either would not recommend nursing as a career to young people or were not sure that they would

      Click here to read the more results from the AMN Healthcare 2010 Survey.

      Health Care Hiring Continues

      Tuesday, February 9th, 2010

      James A. White recently blogged about the latest unemployment ratings last week for the Wall Street Journal. January’s rate was 9.7%, which came down from 10% in the previous two months. What PRN Funding found to be the most interesting was that health care sector added 14,500 jobs.

      Moreover, it’s also important to note the continuing surge in temporary hiring. “Perhaps once the health care debate is settled some of these jobs will swap into permanent employment, but in the meantime firms are willing to take on workers but not at the expense of benefits on the way in or severance on the way out,” said Steven Blitz of Majestic Research.

      Spheris to be Acquired by MedQuist and CBay

      Friday, February 5th, 2010

      In an press release issued this week, Spheris announced that it has agreed for MedQuist and CBay, Inc. to purchase Spheris’ assets under Section 363 of the U.S. Bankruptcy code. According to the official Spheris press release, “The company expects its operations to continue as usual during the restructuring process. Spheris India, a subsidiary of the Company, will be part of the prospective transaction but will not file for bankruptcy.”

      This news generated some questions from the medical transcription factoring specialists at PRN Funding–Namely, if this agreement goes through from a national perspective, is it beginning of a monopoly in the transcription industry?

      Asset-Based Lending and Invoice Factoring Increases

      Wednesday, February 3rd, 2010

      There was an interesting article that appeared in yesterday’s Wall Street Journal entitled: Asset-Based Lending Grows in Popularity. The reporter shared statistics that demonstrated how much more small businesses have been leaning on asset-based lending and invoice factoring in the down economy.

      The reporter wrote: “Many small businesses that seek asset-based loans are distressed companies, or have spotty of short track records. Lenders tend to specialize in specific industries or lines of business, with an understanding of the particular collateral at stake.”

      This is especially true of PRN Funding’s factoring services, as we only factor healthcare vendors who sell goods or provide services to healthcare facilities. PRN prides itself in understanding the various industries we serve: medical staffing, medical transcription, medical coding, private duty home care, etc.