Scott Love of RecruitingMastery.com, wrote an excellent article in Net-Temps Recruiters e-newsletter that gave recruiters tips on how to get quick-paying clients. More specifically, he advised recruiters to use “fear of loss” as a motivator. Translated to healthcare vendors like medical staffing agencies and medical transcription services, threatening to pull your nurses or ceasing your transcription services until until a check is received is a good attention-grabber and lets the medical facility know that you mean business.
Love also highly recommends putting your terms directly on your invoices, which is something Phil Cohen (president of PRN Funding, LLC) suggested to temporary nurse staffing business owners in part two of his article series: How Nurse Staffing Agencies Can Get Paid Quicker.
Not to mention, another way for business owners to get paid quicker during a bad economy is to utilize invoice funding. Selling your invoices to a factoring company is a great way for you turn your receivables into cash immediately.