Factoring for Home Care Agencies

The factoring experts at PRN Funding, LLC announced this week that it is now accepting factoring applications from home care agencies. For the convenience of the factoring blog‘s readers, we have included the text from the official press release below:

PRN Funding Expands Funding to Home Care Agencies

Cleveland, OH-Keeping up with the ever-changing medical staffing marketplace, PRN Funding, LLC made a formal announcement this week that it is now accepting home care factoring applications.

Previously, the focused accounts receivable factoring firm has worked exclusively with healthcare vendors that sell goods or deliver services directly to medical facilities. By adding home care agencies to their repertoire, the invoice funding firm is now able to collect payments directly from multiple state governments and their agencies.

“It has come to our attention that home care agencies and private duty firms could benefit greatly by PRN Funding’s factoring services,” said PRN Funding’s president, Philip Cohen. “It’s a growing market that we are excited to help.”

Home care, private duty and in-home care are all phrases that refer to a specialized care or life assistance care given to a person within the confines of his/her home rather than in a medical facility.

With years of experience in healthcare services financing, PRN Funding has a precise understanding of the unique challenges within the demanding business of serving vendors to healthcare institutions. 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.

For more information, please visit PRN Funding’s Home Care Factoring page.

One Reply to “Factoring for Home Care Agencies”

  1. What many forget about with factoring – as all focus is on obtaining needed working capital – is that your factoring company can save you both time and money. Busy entrepreneurs – struggling with growth – usually don’t have the time to spare in collecting on accounts. Additionally, in these trying times, the business’s customers may also be struggling with cash flow issues and are finding it harder to pay on time. Thus, requiring businesses to spend even more time in collecting accounts. But, what is usually forgotten is that your factor will help you collect – sometimes working all of your accounts if you so choose. They want to get paid also. This will free your time allow you to focus on your business venture – especially since you are now flush with cash and ready to grow.

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