Home Healthcare Companies | Home Healthcare Agencies turn 60 day slow-pay Medicare, Medicaid and Insurance invoices into accessible capital to grow your business faster!

Home healthcare companies and agencies, if you’re currently billing insurance to collect outstanding Medicare, Medicaid or Third-Party Insurance payments for services rendered -you’re a good candidate for factoring.

Factoring increases your cash flow by giving you immediate access to a portion of your total outstanding receivables. Covering payroll for home healthcare nursing that’s being billed ’24 hours a day 7 days a week’ can get expensive. Especially if you’re not getting paid for 30-60 days. That’s a lot of money going out with little or no money coming in every week!

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If you’re wondering why you’re still a single location home healthcare agency and only grossing between $1m-$2m ‘million’ dollars a year; it’s most likely because you don’t have the upfront capital you need to hire and train more staff in order to service more new customers.

Access to predictable cash flow every month by factoring your home healthcare services invoices will help you increase market share, open additional locations and even increase your gross revenue earnings to 10 times what you’re currently generating today.

The answer is right at your fingertips. Let’s take a closer look at financing those accounts receivable invoices that keep piling up due to slow-paying insurance companies.

The right factor finance company is going to become one of  your greatest assets. Handle your accounts receivable and accounts payable like a true pro. With years of experience under their belt a factor is going to understand your pain points right away and integrate a system to help solve them and keep you on track to more profitability.

Years of experience and dealing with over 400 different types of billing software, state government regulation fee schedules, Medicare percentage coverage, Medicaid percentage coverage, Commercial Insurance coverage rules and regulations as well as determining the ‘true value’ of any accounts receivable invoice will help ensure your company doesn’t get into any future bad debt scenarios; by over estimating billing receivables, miscalculating monies owed or mishandling of company bookkeeping.

This may be just what you need. A fresh start and a fresh look from an outsiders point of view with years of experience and knowledge on hoe to keep your business running efficiently and more profitable.

If you’re business is looking to grow, factoring can help utilize business capital that’s tied up in your home healthcare accounts receivable invoices. If you’re open to seeing what your options are then do yourself a factor and visit Factor Bid to find out how you can find the best factoring company and get the best deal when financing your home healthcare invoices.

BENEFITS OF HOME HEALTHCARE SERVICES FACTORING 

  • Increased Access to Business Capital
  • Flexible Financing term
  • Quicker Payment for Services Rendered
  • Faster Growth Potential
  • Increase in Market Share
  • Finance Partner with Years of Experience and Knowledge in Your Industry

It’s important to know that factor finance companies make money when you make money. It’s in their best interest to help you grow faster while keeping your business lean and efficient, resulting in an increase in annual sales volume and return on investment.

Capitalize on the experience that a factor finance partner will bring to your business. Get payroll taxes under control, pay off higher interest rates and invest your earned revenue back into your company faster so you can stay competitive in the industry.

CHALLENGES IN THE HOME HEALTHCARE INDUSTRY

Some challenges Home Healthcare companies face today when trying to grow their businesses quickly and stay competitive are;

  1. Access to immediate cash flow to grow your business is not easy. Traditional bank loans can take several months. A factor can usually get you financed in just few short weeks, even providing a line to help with any immediate cash flow gaps, until your factoring agreement is approved.
  2. No all factor finance companies facilitate home healthcare services invoices. In fact it is a very niche industry and locating even one finance company that has the knowledge and know how to handle the home healthcare industry can be a tedious and challenging job for any business owner.
  3. Home healthcare receivables are non-assignable which increases the risk of financing them. This limits the number of quality finance companies that will fund home healthcare invoice receivables.

Experience counts, in the home healthcare industry especially. Make sure your’re getting a fair deal by choosing the right factor finance partner.

Get a few competitive offers by visiting www.factorbid.com and choosing the “Get Started” feature.  The right factor financing partner is just a few clicks away.

Factor bid matches your industry invoices with a few of the top finance companies that specialize in your industry and have the knowledge and experience needed to finance your receivables for the most competitive rate. Try it today for free!

Capital Solutions for Small and Mid-Sized Firms

Are your Accounts Receivables costing you money, you’ve earned the right to know!

Your outstanding accounts receivable invoices are assets. You can sell those assets to a Factor for immediate cash. Stop waiting 30-45 or even 90 days to get paid. Factor your invoices and get paid within 24 hours!

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Factor financing or (factoring) is one of the world’s oldest forms of business commerce, and today accounts for over $3 Trillion* in annual transactions. Factoring is widely use by small-medium and large businesses all over the world.

Benefits of Factoring

  1. Unlock cash tied up in receivables
  2. Back office / bookkeeping assistance
  3. Credit Checking of new potential customers
  4. Grow your business faster
  5. Financial backing

Those outstanding invoices that are sitting on your desk are actually costing you money! By waiting to get paid, you’re missing out on new business opportunity. You’re spending your time chasing and managing money you’ve already earned. Let the factor finance company do all that. They have the resources, they have the people sitting in their offices that specialize in accounts receivable invoicing and collections.

Instead of your customers using your money to grow their businesses exclusively (by paying you on terms in 30-45 days) factor your invoices and use the factors money to grow your business right along with your customers, and become more profitable together for years to come.

How do you find the Best Factor Finance Company with little to no effort

Check out www.factorbid.com -where you’ll get a few competitive offers from factor finance companies that are eager to buy your accounts receivable invoices today for immediate cash.

Factor bid matches your company with factors that specialize in your industry and are eager to earn you new business and buy your outstanding invoices.

When factors know they’re competing to earn your business, you’re going to get a better deal when factoring.

Take 2-3 minutes out of your day and visit Factor bid, submit one of your open invoices and within the hour you’ll be contacted by a few of the top factor finance companies eager to earn your business and finance your business assets (invoices)

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What would you do with more cash on hand to run your business?

You didn’t get into business to finance your customers (by waiting 30 days to be paid) while they continue to grow their business using your money. Getting paid for work you’ve already completed, within 24 hours after invoicing your customer opens up options that will help your business become more successful.

For example: More cash on hand enables you to buy supplies in bulk at a discount, hire additional employees to generate and manage new business relationships, helps cover daily/weekly expenses to keep your business on track and provides the opportunity for investments and securing new business deals that may have been impossible before.

Factors make money in fronting your business money on open invoices. It’s actually in their best interest if your business grows and becomes more successful – the more invoices you generate for goods and/or services delivered the more your relationship grows with your factor finance partner. Factors are going to help you streamline your Accounts Receivables by managing your invoicing and collecting payments in the most efficient way possible so you can focus on running and growing your business everyday!

Why do business owners Factor their receivable invoices

  1. Cash Flow – even if your business is profitable on paper, outstanding invoices can slow your growth potential and even cause you to loose business to more aggressive competitors that have ready cash flow to make more aggressive business decisions quickly.
  2. Unlimited Growth – You can accept all new business as quickly as your can acquire it. With access to cash, you really have no limits to how big your company can grow.
  3. Business Equity – If your company is still new, and lengthy bank loans are not an option right now, don’t liquidate your equity by desperately selling out to an investor before your company has reached it’s potential. Factor your assets (invoices) instead!
  4. Get Rid of Bad Debt – Checkout non-recourse factoring, which is a credit guarantee on your advance. Non-recourse can protect you from having to repay money personally if a customer does not pay.
  5. Lower Stress / Increase Productivity – focus on good things, growth and encouragement of new ideas within your business. Outsourcing your A/R Bookkeeping to a factor will put your mind at ease and help your business grow more quickly.

 

On the Go -check out Factor App for fast, simple factor financing. Get started in under 2 minutes!

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I don’t do bookkeeping, my factor finance partner does it for me!

Factoring Comes with Your Own Personal Bookkeeper

Do you know that factoring comes with your own personal bookkeeper!  If you didn’t, you should.  When you partner with a factor finance company to get paid within 24 hours for your outstanding accounts receivable invoices they handle those invoices for you.  They track, record, and file each invoice and even provide follow-up customer service to those clients of yours who have not paid on time. Imagine how much time it will save your business, having someone help you with all the back and forth of document approval, credit checking and even collections. You’re in business to make money, spend your time focusing on how to do more of it, instead of wasting time chasing work you’ve already completed.

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Partnering with a factor and all their back office of resources will cut your cost of paying an additional employee to do it. It’s like having your own personal bookkeeper ensuring payment on your open accounts receivable invoices.  However, this bookkeeper gets your business paid with CASH on delivery.

To add icing to that cake, Factor Bid sweetens the deal by being that thin layer of amazing that helps your business get the best deal when deciding which factor finance company best fits your business needs. Factor bid quickly matches your invoices with factor finance companies that are eager to earn your business and specialize in your industry; enabling you to get the most competitive pricing all at the same time, within a few minutes of each other.

Factor bid is simple to use:

Step 1: Visit www.factor.bid

Step 2: Click on “Submit Invoice”

Step 3: Follow the steps and submit your invoice

Within the hour you’ll have competitive offers from the top factors to buy your invoices for immediate cash! You decide which factor is right for you. When factors know they’re competing for your business “at the exact same time” your more likely to get a better deal which means more money in your pocket!

WHAT’S NEXT?

TIME SAVER:  Now that factors have freed up at least 10 hours a week of your time by doing the heavy lifting of managing your accounts receivables, what are you going to do with it? You can pick up more new jobs and make more money.  You can prospect new clients instead of wasting your time calling slow/no paying ones.  You can be more present to your employees and office staff, brain storming new ways to increase your business with existing customers and with new customers. Even spend a little extra time doing things that make you feel good each day!

MONEY SAVER:  If you were considering hiring a bookkeeper to handle all your open accounts receivable invoices, hold the phone!  As we said before, your factor finance company is happy to lend a hand.  Factors are in the ‘paperwork’ business and are the best at what they do. Partner with a factor today and watch your business become more organized, grow faster and be more profitable than ever before.

Not sure which factor finance company is right for you?  Factor Bid thought of that, too. Simply visit one of our helpful blog posts at, “Helpful tips when choosing a factor finance partner that best fits your business needs.”  This article contains key terms and questions you need to know when deciding which factor is best for you!

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