Long-term Funding Solutions for Long-term Care
Long-term care facilities offer an important service, yet often face challenges that hamstring their operations. The majority of skilled nursing facilities deal with cash flow problems that can be crippling if not dealt with properly. Problems associated with Medicaid payments are oftentimes at the heart of the cash flow issues that nursing homes face. If many long term care residents take part in Medicaid, the payment model that is used by the program is often not enough to cover day-to-day business costs. Long-term care institutions often have to turn to outside financing to cover expenses, but securing a bank loan is not easy.
One way for skilled nursing institutions to regulate cash flow is to factor their unpaid healthcare invoices. PRN Funding has partnerships and account managers with the best factoring companies that will work with Medicaid invoices. Advantages include:
- Easy approval
- Immediate cash disbursements
- No debt added
- Access to funds increase with revenue
Our parents and grandparents deserve the best care possible, and that means keeping nursing homes up and running. Long-term care factoring is one way to keep these institutions going so they can provide for those who are in need. The top medical factors in the business are in our network, and we know many factors that have spent years working with nursing homes.