Invoice Factoring for Private Duty Care
Introducing a Flexible Cash Flow Solution
Factoring is a smart funding solution for private duty home care agencies. If you’re providing unskilled nursing services to patients, our private duty factoring services can help your agency get paid faster. We’ll help you obtain the cash flow you need to cover your payroll, taxes, insurance and other operating expenses.
PRN works with private duty nurse and caregiving agencies who are paid via Medicaid waivers or state government programs. PRN Funding purchases your private duty care accounts receivables–a process known as invoice funding–so that your business can grow, without compromising your present obligations to payroll, taxes and credit obligations.
If you’re billing individuals (private pay) for your private duty services, learn more about consumer factoring here. If you’re interested in additional factoring services for home health agencies, click here.
How Does Factoring Work for Private Duty Care?
Selling invoices is a common alternative funding option for many healthcare companies. PRN Funding purchases your private duty invoices and issues an advance within 24 hours. You bill your customers like usual. The only difference is that they send payment to our lockbox. Getting approved is easy (if you’re just starting up, no problem!). Approval is based on the credit of your customers (Medicaid, VA or state government agencies), rather than your business’ credit history.
Our Invoice Funding Programs
There are many benefits to factoring private duty care receivables. Here’s a few to start:
More readily available cash: Funds are electronically deposited directly into your bank account within hours of verification that private duty services have been performed.
Flexible funding choices: PRN Funding offers all private duty nursing clients the freedom to factor when they want, how they want, whom they want and for however long they want.
Private duty home care industry expertise:
PRN Funding has spent the better part of a decade in the healthcare services industry, and we have designed our private duty accounts receivable funding program specifically to meet the unique challenges faced by those who provide nursing and companion services in patients’ homes and bill Medicaid or other state-funded agencies for those services.