Trying to run a home healthcare agency in the state of Pennsylvania can be challenging. Between dealing with the PA Government, Medicaid, and various insurance providers, like UPMC, sometimes you’re stuck waiting around to get paid.
What is Invoice Factoring?
In it’s most basic form, invoice factoring, also known as accounts receivable factoring, is the process of selling your outstanding invoices for a cash advance to be able to pay bills, cover payroll, and improve your cash flow.
Home healthcare agencies often use invoice factoring to cover payroll, especially when working with Pennsylvania insurers. Organization’s like UPMC sometimes take up to 9 days to pay a home healthcare agency for their services. This can obviously become a problem if the home healthcare agency needs the cash in order to make their payroll by a certain date.
Why Factor Your UPMC Invoices?
We understand the difficulties that come along with running a home healthcare agency in the state of Pennsylvania. It can be a nightmare trying to do business with all the Commonwealth and insurance providers that use your healthcare services. That said, invoice factoring can be the solution. And, the best part is, approval is simple.
For starters, you have the ability to get approved with poor or no credit. During the approval process PRN Funding is only interested in the credit history of UPMC. Along with that, invoice factoring adds no debt to you or your business. UPMC will be responsible for repaying us for the advance you receive. The cash advance you receive can be used to grow your business, make payroll, or cover some bills that have been hanging over your head.
With over a decade of experience in the factoring industry, PRN Funding has the expertise and experience you need to make sure you have the capital to keep your home healthcare agency moving forward.
The Process Of Factoring UPMC Invoices
Based in Pittsburgh, PA, UPMC is a top of the line healthcare provider and insurer. consisting of over 90,000 employees, 40 hospitals, and 700 doctors’ offices and outpatient sites, UPMC is the largest non-governmental employer in the state of Pennsylvania.