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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 assist alleviate your concerns and to educate your customers about medical staffing invoice funding, consider the following: Medical staffing factors only work with companies who qualify for credit. Similar to getting a bank loan, staffing agencies go through what is due dilligence before an invoice funding company will agree to purchase their receivables. If your company is allowed to secure financing, it is a positive sign that 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 will be most likely accustomed to taking 30, 60 or even 90 days to pay for your staffing funding services. By factoring, you’ll be 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 benefits from having money today, as a way 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 large number of your customers may already deal with factors and may not be aware of it. Factoring is one of the oldest methods of providing working capital to help corporations solve their cash flow needs.
Credit cards transactions can be actually the best common form of factoring used every day. Various hospitals and physicians’ practices factor their medical receivables due from insurance companies and therefore perhaps may 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 quite a few their concerns, and invoice funding firms would be available to assist explain your new financial situation. For too long, factoring was only available to large, multi-billion dollar corporations. Now there seem to be specific invoice funding firms that provide medical staffing funding services to companies like yours, so you are able to enjoy both the perception and the reality of being a growing, profitable company.
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