Keep Payroll Moving and Grow Your Texas Homecare Agency.
Grow your agency and serve your patients without being held back by slow-paying clients. With help from PRN Funding’s Texas homecare factoring program, you can access working capital for greater financial security. Homecare factoring is a business-friendly alternative to traditional factoring.
When you sell your outstanding invoices to PRN Funding, you obtain near-immediate cash. Now you can meet your everyday expenses, make payroll and keep up with operating costs.
Have the confidence to take on new patients and agencies with the financial security factoring provides. The homecare factoring process is easy, and you can factor as often as needed to maintain a steady flow of working capital.
What is Homecare Factoring?
Homecare factoring, also known as homecare funding, helps homecare agencies manage cash flow and working capital needs. When a homecare agency works with a factoring partner, it sells its outstanding invoices or accounts receivable. The factoring company then advances a significant portion of the invoice value to the agency. See our factoring terminology guide if you’re new to the process.
Instead of being strapped for working capital while waiting on payment, homecare agencies receive immediate payment for services. By leveraging homecare factoring, Texas providers can maintain a steady cash flow to ensure the necessary funds are available to cover operational expenses and invest in growth opportunities too.
See How PRN Can Help
Contact us at 216.714.8280 or request a quote below.
See How PRN Funding Can Help
Contact us at 216.677.1991 or request a quote below.
Texas Homecare Debtors PRN Funding Works With
PRN Funding understands Texas’s reimbursement system and works with agencies billing many of the state’s leading government programs and managed care organizations, including plans operating under STAR+PLUS, the state’s Medicaid managed care program for long-term services and supports.
We regularly purchase receivables from agencies billing:
- Superior HealthPlan
- Molina Healthcare of Texas
- UnitedHealthcare Community Plan
- Wellpoint (formerly Amerigroup)
- Texas Health and Human Services (STAR+PLUS)
If your agency bills another Texas homecare payer, contact our team to discuss your funding options.
25 Years of Empowering Homecare Agencies
See Our HistoryTexas Cash Flow Challenges
What’s one of the top home health care challenges? Cash flow. The slow payment cycles of homecare clients and payers can create real strain for Texas providers. Many homecare companies face challenges such as:
- Slow payments: Clients and MCOs can often take weeks or months to issue payment to homecare agencies.
- Extended payment terms: Agencies may need to extend payment terms, leaving them in a cash flow deficit.
- High administrative costs: Homecare agencies can incur significant administrative costs associated with billing and collections.
These challenges can strain the financial security of homecare agencies, making it difficult to cover operational expenses and hindering growth. Give your Texas homecare agency a financial boost with factoring.
Texas Cash Flow Solutions
Factoring is a proven solution for homecare industry cash flow issues. The immediate cash available 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 agency stability and growth
PRN Funding can help Texas homecare agencies overcome working capital gaps and provide the funds needed to maintain and grow operations. Learn more about the benefits of invoice factoring.
How the Invoice Factoring Process Works
The homecare 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.
Why Choose PRN Funding for Your Texas Homecare Agency?
Unlike general factoring companies, PRN Funding focuses exclusively on homecare receivables.
For more than 25 years, we’ve helped homecare agencies overcome slow payment cycles with fast, flexible funding solutions. Our team understands the unique billing and reimbursement processes within the homecare industry, allowing us to provide responsive service and customized funding.
When you partner with PRN Funding, you’ll receive:
- Dedicated account management
- Homecare factoring expertise
- Fast approvals
- Funding within 24 hours
- Flexible factoring options
- Friendly, knowledgeable support
PRN Funding has years of experience providing factoring services to homecare companies across Texas and beyond. If you choose to partner with us, you will benefit from our expertise and total commitment to client support.
Frequently Asked Questions
(See our full Factoring FAQs for more.)
Is factoring a loan?
No. Invoice factoring is the sale of outstanding receivables rather than borrowing money, so you aren’t taking on new debt.
How quickly can I receive funding?
Many agencies receive funding within 24 hours after invoice verification.
Can startups qualify?
Yes. Approval is based primarily on the creditworthiness of your clients rather than your agency’s credit history.
Can I choose which invoices to factor?
Yes. PRN Funding offers flexible funding options based on your agency’s needs.
Don’t Allow Slow-Paying Customers to Get in Your Way!
PRN Funding can help! Call us today @ 216-504-1000
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