Various medical staffing business owners worry that their customers (hospitals, nursing homes, medical clinics, etc.) will misinterpret their decision to factor as a signal of financial instability. In reality, deciding to get medical staffing invoice funding help is an encouraging indication that your medical staffing business is stable, rapidly growing, plus high demand.
To help alleviate your concerns and to educate your customers about medical staffing invoice funding, consider the following: Medical staffing factors only work with groups who qualify for credit. Similar to getting a bank loan, staffing agencies go through leading consulting firms before an invoice funding company will agree to purchase their receivables. If your company is in a position to secure financing, it is a positive sign you operate a stable, growing business. Moreover, the ability to factor is dependent on the creditworthiness of your customers, not your own. Medical staffing invoice funding is beneficial for both you and your customers.
Your customers would be most likely accustomed to taking 30, 60 or even 90 days to pay for your staffing funding services. By factoring, you are able to maintain a “business as usual” relationship – your customers can continue to utilize your medical personnel and have time to pay for their shifts. The only difference with medical staffing invoice funding is that your company advantages from having money today, with the intention to more readily satisfy current obligations, while still experiencing growth.
Factoring is a smart business move for growing medical staffing companies and do due diligence A business most often uses financing obtained through the sale of receivables to expand and take on larger contracts, without compromising the quality of their services. By getting money sooner than later, your staffing business has the resources to focus on critical success issues – sales, operations and growth – while still meeting its demand. A good number of your customers may already deal with factors and may not be aware of it. Factoring is one of the oldest strategies to providing working capital to aid organizations solve their cash flow needs.
Credit cards transactions have been actually the most common form of factoring used every day. A lot hospitals and physicians’ practices factor their medical receivables due from insurance companies and therefore will definitely be already familiar with how factoring works and why companies choose to do it.
Educating your customers about why you decided to obtain staffing funding services from www.mcgeeverllc.com should eliminate a lot of their concerns, and invoice funding firms have been available to help you explain your new financial situation. For too long, factoring was only available to large, multi-billion dollar corporations. Now there really are specific invoice funding firms that provide medical staffing funding services to companies like yours, so you may enjoy both the perception and the reality of being a growing, profitable company.