Healthcare Factoring Case Study: A Temporary Nurse Staffing Agency Recovers from a Bankrupted VMS
When the owner of this Arizona-based staffing agency found out that Symbio Solutions was bankrupt, she was concerned about cash flow. She had been staffing LPNs and CNAs in facilities that worked exclusively with the vendor management system for over a year, and Symbio owed her thousands of dollars in unpaid invoices. Needless to say, this nurse staffing business owner needed cash fast.
As luck would have it, this temporary nurse staffing agency owner received a postcard from PRN Funding two weeks after the Symbio Solutions’ bankruptcy announcement. She dialed the number on the postcard and was immediately connected with a nurse staffing factoring expert, who was able to walk her through the process of turning her current invoices into cash.
Within five business days, the nurse agency owner had sold the bulk of her current invoices to PRN Funding, giving her plenty of cash to pay her nurses while she waited for Symbio’s bankruptcy to be resolved.
Click here to learn more about the nurse staffing factoring process.