Home Health Care Factoring | Accounts Receivable Financing
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Factoring for Home Healthcare Agencies

The Need for Home Health Care Factoring

Home health care factoring helps you get paid sooner. You know that the home health care business can be lucrative, but cash flow shortages are common in the healthcare industry. Even after you pay for materials and complete services, there can be a delay in receiving payment for those services for a number of reasons:

  • Slow-paying customers
  • HMOs
  • Medicare
  • Medicaid

Factoring for Home Health Care Providers

In the home health care factoring process, your outstanding accounts receivables are sold so that you receive funding right away. This means that your company will have more cash available for expenses:

  • Overhead
  • Payroll
  • Operating Expenses
  • Taxes

In addition to the up-front benefits of home health care factoring, your agency can spend even less on administrative tasks such as billing and collections. This frees up more time for you to focus on your home care agency.

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Funding for Home Healthcare Businesses

Home health care accounts receivable factoring can improve your business by providing cash flow solutions. Home health care factoring is ideal for your agency if you provide at-home services to those who need temporary or long-term assistance with the tasks of daily living, such as:

• Older adults
• People with disabilities
• People who are recovering from illnesses or procedures
• People with chronic illnesses

Third party payers and government agencies typically pay slowly, which can tie up cash flow that’s vital to home healthcare providers. You don’t have to wait months to collect on your receivables. Factoring receivables ensures you always have steady cash flow available to successful operate your business.

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Is Accounts Receivable Factoring Right for Your Home Care Agency?

Some circumstances affect a company’s cash flow negatively. Your home health care agency may seek factoring for cash flow support because:

  • You have been turned down for a bank loan
  • Your agency is small, new, or has poor or no credit
  • Your agency is well-established and would like to improve working capital
  • You cannot afford to wait 30, 60, 90, or 120 days to receive funding
  • You need funding soon to meet payroll, taxes, and agency operating expenses
  • Your home healthcare receivables can be collateralized

 

 

home health care funding

Fast and Flexible Funding

Secure the funding you need to grow your home healthcare business. Call us today at 866-886-9466

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Talk to Us: 855-322-8671

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