Funding to Empower Home Healthcare Companies

Grow your business and serve your patients without being held back by slow-paying customers. With help from PRN Funding’s Pennsylvania home healthcare factoring program, you can have access to working capital for greater financial security. Home healthcare factoring is a business-friendly alternative to traditional factoring.

When you sell your outstanding invoices to PRN Funding, you will obtain near-immediate cash. Now you can meet your everyday expenses, make payroll and keep up with operating costs.

Have confidence to take on new patients and agencies with financial security from factoring. The home healthcare factoring process is easy, and you can factor as often as needed to maintain a steady flow of working capital.

What is Home Healthcare Factoring?

Home healthcare factoring, also known as home healthcare funding, is a financial solution to assist home healthcare companies with managing cash flow and working capital needs. When a home healthcare business works with a factoring partner, it sells its outstanding invoices or accounts receivables. The factoring company then advances a significant portion of the invoice value to the home healthcare provider

Instead of being strapped for working capital while waiting on payments, home healthcare companies receive immediate payment for services. By leveraging home healthcare factoring, providers can maintain a steady cash flow to ensure the necessary funds are available to cover operational expenses and invest in growth opportunities.

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Resolve Cash Flow Challenges

What’s one of the top home health care challenges? Cash flow. The slow payment cycles of home healthcare customers can lead to cash flow challenges for providers. Many home healthcare companies face challenges such as:

Slow payments: Customers can often take 30 days or longer to issue payment to home healthcare providers.
Extended payment terms: It may be necessary at times for home healthcare providers to extend payment terms, which leaves the provider in a cash flow deficit.
High administrative costs: Home healthcare providers can incur high administrative costs associated with billing and collections.

These challenges can put a strain on the financial security of home healthcare businesses, which can make covering operational expenses difficult and hinder business growth. Give your Pennsylvania home healthcare agency a financial boost with factoring.

Cash Flow Solutions

Factoring is a viable solution for home healthcare industry cash flow issues. The immediate cash that is accessible after selling outstanding invoices can help with:

Improving cash flow and working capital
Reducing administrative costs associated with billing and collections
Increasing revenue and profitability
Enhancing business stability and growth

PRN Funding can help Pennsylvania home healthcare agencies overcome working capital gaps to provide the funds needed to maintain and grow operations.

How the Invoice Factoring Process Works

The home healthcare factoring process is easy and straightforward. With just a few simple steps, you can have immediate access to cash that can be used for a variety of necessary expenses.

Serve Your Clients

Provide goods and/or services to your customers like usual.

Submit Invoices to PRN Funding

After services are completed and/or products delivered, submit the invoices to factor to PRN Funding.

Verification

PRN Funding verifies that the work has been performed and/or products have been delivered.

Receive Cash Within 24 Hours

PRN Funding advances cash to your company within 24 hours.

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Why Choose Home Healthcare Factoring for Your Pennsylvania Home Care Agency?

Factoring can help Pennsylvania home healthcare agencies continue to provide exceptional care for patients without the stress of decreased working capital. Factoring services are specifically designed to finance transactions related to healthcare receivables, focusing on net claims and the differences between net payments and gross invoice amounts for home healthcare providers.

At PRN Funding, we understand the intricacies of securing payment from various sources. We assume the task of collecting payment from customers so you can focus on growing your business.

Qualifying for home healthcare factoring is easy. Unlike traditional bank loans, we can approve companies with little or no credit history, as long as the company is working with established debtors and guarantees the accuracy of the invoices.
You can get started in as little as three to five business days with our expedited due diligence process. Since you are not taking out a loan, there is nothing to repay with home healthcare factoring. You can use the cash you receive to invest in any area of your business. There are no minimum or maximum amounts to factor. As your business grows, so does the amount you can factor, so you can take control of your company’s cash flow needs.

PRN Funding has years of experience providing factoring services to home healthcare companies in Pennsylvania and beyond. If you choose to partner with us, you will benefit from our expertise and total commitment to client support. With PRN Funding, you can rest easy knowing that your home healthcare receivables are in good hands.

Don’t Allow Slow-Paying Customers to Get in Your Way!

Get the funding for your home health agency needs, by calling us today at 216-504-1000

Pennsylvania Home Healthcare Factoring