Small Business Still Struggle to Pay Bills on Time

The Wall Street Journal ran a short article last week discussing the most recent poll results from Experian’s Business Benchmark Report. The main conclusion of the report was that small business owners are still struggling to manage cash flow, so they’re continuing to pay their bills late.

Specifically, the report said the following:

  • Businesses with between one and four employees were an average of 8.2 days late paying their bills – a nearly 15% increase from a year ago.
  • Firms with five to nine employees were 7.6 days late, an increase of about 16%.
  • The average for businesses of all sizes was 7.1 days.

Click here to read the entire Wall Street Journal Article: Paying Bills Promptly Still a Struggle.

PRN Funding to Give Away an Amazon Kindle Fire at Decision Health’s Annual Private Duty Conference

Las Vegas, NV-PRN Funding, LLC has been invited to exhibit at Decision Health’s 14th Annual Private Duty National Conference & Expo at the Caesars Palace Las Vegas Hotel & Casino November 2-4.

Conference attendees will have the opportunity to speak with the company’s President, Phil Cohen, and Marketing Manager, Nikki Flores, during exhibit hours. Non-medical home care agencies are invited to stop by booth #103 to learn how they can turn their Medicaid receivables into cash immediately through home care invoice factoring.

In addition to learning about invoice funding options, all attendees are invited to stop by booth #103 and enter PRN Funding’s drawing to win an Amazon Kindle Fire. The winner will be announced at the Networking Reception on Thursday, November 3rd from 5:15 – 6:15 p.m. Winners must be present at the reception to claim their prize.

With years of experience in healthcare industry, PRN Funding has a precise understanding of the unique challenges within the private duty and home care industries. PRN Funding offers financial resources to these companies by purchasing their accounts receivable–a process known as ‘factoring’, which provides the cash needed to sustain and grow a healthcare business.

PRN Funding Entends Credit to Teleradiology Vendor

Known throughout the factoring industry as a healthcare funder, PRN Funding recently added a brand new vertical to it’s healthcare factoring repertoire: Teleradiology.

Helping to improve access to medical services, teleradiology is the ability to send images from one location (i.e. an imaging center, clinic or physician’s office) to another location for evaluation.

Specifically, PRN Funding extended a $500,000 credit line to this growing teleradiology client based in the Greater Philadelphia area.

How Private Duty Home Care Agencies Can Benefit from Invoice Funding

Check out this video to see what PRN Funding’s private duty care invoice funding program offers:


  1. More Readily Available Cash: Funds are electronically deposited directly into your bank account within hours of verification that  private duty services have been performed.
  2. Flexible Private Duty Invoice Funding Choices: PRN Funding offers all of our private duty nursing clients the freedom to factor when they want, how they want, whom they want and for however long they want.
  3. Private Duty Industry Expertise: PRN Funding has spent the better part of a decade in the healthcare services industry, and we have designed our private duty account receivable funding program specifically to meet the unique challenges faced by those who provide nursing and companion services in patients’ homes and bill Medicaid or other state-funded agencies for those services.  

Want to learn more? See our private duty care factoring process to learn how PRN Funding can benefit your business.

PRN Funding Helps Home Healthcare Agencies Through Factoring

Do you own a home healthcare agency? Does waiting to be paid by Medicaid affect your ability to meet payroll and pay taxes on a timely basis? Do you have to wait too long to receive payments from a state agency for your non-medical home care services? Are you thinking of starting up a home care agency but you need to secure ongoing funding before doing so?

If you answered YES to any of the questions above, then PRN Funding’s home care factoring program is the solution to your agency’s funding needs. Through the purchase of your home care accounts receivables–a process known as factoring–your business can grow, without compromising your present obligations to payroll, taxes and vendor invoices.

Want to learn more? Click here to read about the benefits of home care factoring.

NAHC Welcomes Invoice Factoring Firm as a First-Time Exhibitor: PRN Funding to Give Away an iPad2

PRN Funding, LLC is set to exhibit at the National Association for Home Care & Hospice’s 30th Annual Convention at the Mandalay Bay Resort and Casino next month. This is the first time the home care factoring firm will be exhibiting, and it’s excited to speak with private duty home care agency owners about the benefits of accounts receivable financing.

President, Phil Cohen, Marketing Manager, Nikki Flores, and Office Manager, Stephanie Chmielecki, will be in booth #1054 October 2-4 speaking with home care business owners about how they can turn their Medicaid receivables into cash immediately through private duty care invoice factoring.

In addition to learning about invoice funding options, all attendees are invited to stop by booth #1054 and enter PRN Funding’s drawing to win an iPad2. There are two ways to enter PRN Funding’s iPad2 raffle: (1) Bring the postcard that was mailed prior to the conference directly to the booth or (2) Fill out an entry form. On the last day of the conference, PRN Funding will announce the winner.

With years of experience in healthcare industry, PRN Funding has a precise understanding of the unique challenges within the private duty and home care industries. PRN Funding offers financial resources to these companies by purchasing their accounts receivable–a process known as ‘factoring’, which provides the cash needed to sustain and grow a healthcare business.

How Can Medical Staffing Payroll Factoring Help My Agency?

Do you have a profitable medical staffing agency that is sometimes short on cash? Or are you thinking of starting a medical staffing agency and worried that you won’t have enough money to make payroll? If you answered yes to either of these questions, then you are not alone. Every medical staffing agency owner goes through cash flow challenges. Some find ways to overcome their cash flow problems, and some do not. If you want to be one of the medical staffing business owners that succeed, then you should keep view this video:

One of the most frustrating aspects of owning a medical staffing business is that healthcare providers oftentimes insist on extending payments beyond 45 days. In fact, it’s not uncommon for a large medical facility to cut checks 60 days or later after services have been rendered. Naturally, a consistent history of ‘staff now and get paid later’ can wreak havoc for any new or growing medical staffing company. In effect, it causes the agency to be invoice rich and cash poor, which means that a medical staffing agency has a lot of outstanding receivables and little cash in the bank to show for it.

Fortunately, there is an easy way for staffing agency owners to turn their receivables into cash – medical staffing payroll factoring. It’s is one of the most used and least talked about ways to finance a business. In essence, medical staffing payroll factoring is a financing tool that allows medical staffing agency owners to convert their invoices into cash immediately. Specifically, a medical staffing payroll factor purchases an agency’s invoices at a discount and offers an advance payment to the agency. When the invoices come due, the medical staffing payroll factor collects directly from the agency’s clients (account debtors), takes its fees and releases the balance back to the agency. Utilizing medical staffing payroll factoring can transform an invoice rich agency into a cash rich…

Click here to keep reading How Can Medical Staffing Payroll Factoring Help My Agency?

Fraud Allegations Surrounding Medical Billing Company: JJ&R to Pay Millions

The medical billing factoring and medical coding invoice funding specialists at PRN Funding came across an interesting article that we believe is important to share with our Medical Billing and Medical Coding readers. We summarized the article below. You can read the article in its entirety on HealthLeadersMedia.com, Ca Medical Biller to Pay $4.6M to Settle Fraud Allegations.

Federal prosecutors alleged that Janzen, Johnston & Rockwell Emergency Medicine Management Services Inc. inflated claims that it had coded on behalf of emergency room physicians in Louisiana and California, and as a result of the fraud allegations, JJ&R agreed to pay the federal government $4.6 million.

From approximately 2000 through 2007, JJ&R used a coding formula that tended to generate claims for a marginally higher level of evaluation and management service than physicians had actually provided. In addition, JJ&R allegedly often failed to comply with Medicare’s coding rules governing claims for teaching physicians, resulting in claims that were not properly payable.

NYSE Primed for Receivables Market

The New York Stock Exchange announced some of its plans to get involved with accounts receivable factoring industry earlier this week.

Specifically, the NYSE hired Paul DeDomenico, previously chief executive of GE Capital’s working capital solutions group to head up the exchange group’s corporate receivables program. In addition, the NYSE took a minority stake in The Receivables Exchange.

The two moves, which come amid a fierce political debate over bank lending to small-and-midsize businesses, could provide an advantage to the NYSE in its battle with competitors over share listings, by allowing the Big Board operator to offer a broader suite of services to companies that choose to list with it. And the moves provide an entry point to a market in receivables estimated by the companies at $17 trillion in size domestically.

Click here for the entire article: NYSE Euronext Bulks Up In Market for Receivables.

Small Business Owners: Pawn Shop is Alternative to Bank

CnnMoney.com posted a very interesting article last month, which described how business owners are starting to turn to pawn shops for fast cash when they are unable to qualify for a bank loan.

The pawing process is similar to a bank loan, in that an entrepreneur brings in an item of value (i.e. gold or jewelry) to a pawn shop and gets a loan based on the value of the item. Also like a bank loan, the business owner is charged interest. Once the loan is repaid, the business owner can take the item back. But if the owner cannot pay the pawn shop back, the store keeps the item, and tries to recover the loaned amount by selling the item.

According to a salesman at a pawn shop in Florida, the number one reason business owners are turning to pawn shops is to meet payroll. The loans come with a hefty price–one shop charges 6% per month–But for business owners that don’t have enough liquid capital to pay their employees, it’s worth the price.

Another alternative financing solution which is eve more affordable than pawning is accounts receivable factoring, in which a business owner can sell his/her invoices to a factor and receive cash the same day he/she invoices.

Read the entire article: Pawning Rolexes to Make Payroll.

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