PRN Funding Interviews on YouTube

As an accounts receivable factoring firm with a niche in funding nurse staffing agencies, medical transcription services, medical coding companies and medical billing companies, PRN Funding is heavily invested in internet marketing and web-based advertising.

PRN Funding has utilized ideas and suggestions from The Karcher Group’s (TKG) web design and web marketing services for over nine years to increase its internet reach.  In fact, starting The Factoring Blog was one of TKG’s suggestions, and look how much it’s grown since we first launched it just three months ago!

Check out PRN Funding’s YouTube Interview!

Click here to see TKG’s thoughts on PRN Funding.

Landing a Business Loan After Bankruptcy

Who does a business owner turn to for financing when he/she has been  turned down for business loans due to a personal bankruptcy?

Business Week columnist, Karen Klein, tackled this question earlier this month (Landing a Business Loan After Bankruptcy).  Noting that it’s hard for entrepreneurs to get startup capital in general, Klein said it’s even harder to get bank financing now because banks have tightened their lending standards.

Although Klein suggested asking friends, family and/or other strategic investors to put a monetary interest in the new business, she also recommended accounts receivable factoring.  PRN Funding couldn’t agree more with this advice!

For nine years, PRN Funding has been able to provide  healthcare staffing funding, medical transcription invoice factoring, and medical coding accounts receivable financing to numerous clients who have had less-than-perfect credit.  These healthcare vendor clients know that PRN Funding extends credit based on their customers’ ability to pay, rather than the business owner’s personal credit.

Check out some of PRN Funding’s client success stories to see just how PRN Funding’s accounts receivable factoring program was able to help.

Adams, Evens & Ross makes Inc. 500 List of Fastest Growing Companies

PRN Funding was excited to find out that Adams, Evens & Ross (AER), was recently added to Inc’s 500 List of Fastest-Growing Private Companies.  Ranked number 307 on the list, AER is a company who collects and manages past-due accounts for clients in the staffing and recruiting industry.  Adams, Evens & Ross boasts a 914.6% three-year growth and revenues of $4.3 million.

PRN Funding outsources some of its ultra-slow paying accounts to AER, and we’ve been pleased with their work, so we wanted to share this exciting news with our Factoring Blog readers.

Linda Aiken to Speak at Healthcare Staffing Summit

Associates of PRN Funding can still remember the first time they heard Professor Linda Aiken speak when she was a guest presenter at Staffing World 2004 in Washington DC.  We were blown away by the amount of information Professor Aiken had to say about how temporary nurse staffing agencies can help defeat the nurse shortage.

Now professor Aiken is scheduled to speak at the 2008 Healthcare Staffing Summit about her most recent project, which involved research on more than 40,000 nurses in 900 hospitals, including travel nurses and per diem nurses.  She will also discuss another one of her studies that found temporary nurses are just as qualified as traditionally employed nurses.

For those medical staffing agency owners who will be attending this year’s conference, don’t miss this talk!

2008 Healthcare Staffing Summit Details

This year’s Healthcare Staffing Summit will be held at the Hilton San Francisco on September 8-9.  At the annual summit, CEOs, owners and senior level executives in the healthcare staffing industry gather and discuss topics of both strategic and tactical interest to the full range of healthcare staffing segments – travel nursing, per diem nursing, locum tenens, and allied medical.

Click here for more information on the 2008 Healthcare Staffing Summit.

PRN Funding Gets Cover Story in Health Data Matrix

When the president of PRN Funding submitted an article to the business and technology journal of AHDI and MTIA, Health Data Matrix, he had no idea that it would be used as the featured cover story of the August issue.  But that is exactly what happened, and we couldn’t be happier!

In his article, Locating Money Sources for Your Business (p. 20-23), Phil Cohen talks about the many different ways a medical transcription service owner can secure financing for his/her business.

Click here if you would like more information on medical transcription funding.

PRN Funding: Not a Commodity Business After All

Last week, we had the opportunity to welcome back a client who had previously left us for a “cheaper” factoring firm. In exchange for “lower rates,” this client received less industry experience, poor customer service, and numerous hidden fees and surcharges, which PRN is fundamentally opposed to. In the end, all of these things drove them right back to PRN Funding barely three months after leaving.

Some services PRN Funding offers that the other factoring firm did not:

Familiarity with the agency’s clients:

Because of PRN Funding’s specialized niche in healthcare staffing funding, we worked with this company’s debtors (clients) before, so we already knew what type of payment terms to expect and who to call when there was a question about an invoice or recent payment.

Quick turnaround time:

Because PRN Funding has been in business for nine years, we understand the complexities of the accounts receivable factoring industry. We were able to process the buyout agreement quickly and initiate a funding within days.

Superior customer service:

PRN Funding takes pride in our customer service. Every time the nurse staffing agency calls the PRN office, a live human being answers the phone and directs the nurse staffing agency owner to his personal account manager.

Dedicated staff:

The account managers at PRN Funding take the time to research and post complicated deposits directly. The well-trained and committed staff at PRN Funding work diligently to correctly post deposits in a timely basis every day.

Real time online reporting:

PRN Funding’s clients have access to the e-Factor reporting system via our web site 24/7/365. Rather than wondering what payments came in or what invoices are still open, this nurse staffing client is able to log into the reporting system and view their account in real-time.

Frustrated with the new factoring company’s lack of nurse staffing industry knowledge and inexperience in the factoring industry, this client found out the hard way that accounts receivable factoring firms are not a one size fits all.

This isn’t the first time that a client has come back to us after an unpleasant experience with another factoring company. And we have to admit that we’re really happy they came back!

2007: The Year of Small Business Firm Lending

According to a recent article in the Washington Business Journal, there was an 8 percent increase from 2006 to 2007 in the dollar volume of small business loans.

Citing a report conducted by the Small Business Administration Office of Advocacy, the article also announced that the number of outstanding small business loans under $1 million increased by 15 percent between June 2006-June 2007.  In addition, the number of small business loans in the $100,000 to $1 million range increased by 32 percent!

Click here to read the entire write up: Lending to Small Firms up in 2007.

PRN Funding Joins Cleveland Chapter of National Funding Association

Earlier this week, PRN Funding’s President, Phil Cohen, was among 15 business professionals who attended an organizational meeting of the Great Lakes Chapter of the National Funding Association (NFA).

In attendance at the meeting were financing professionals and intermediaries, including bankers, factors, consultants and attorneys, who are interested in forming the fifth chapter location of the NFA.  Currently, the NFA has chapters organized in Atlanta, Charlotte, Chicago and Nashville.

Click here to read the press release: PRN Funding Joins Cleveland Chapter of National Funding Association

Ohio Nurses Assigned Too Many Patients

Right here in Cleveland, Ohio, nurses are protesting for a “patient protection act” to limit nurses to no more than four patients per shift.  Nurses from around the state of Ohio rallied at the Statehouse last Tuesday, asking to reduce the patient-to-nurse ratio.

Hospitals in Ohio say that there are too few nurses to meet the proposed ratio.  Surely, bringing in supplemental staffing could help Ohio hospitals meet the 4:1 ratio.  So if you are a nurse staffing business owner servicing the Ohio area, it might be  a good idea to start calling on some of these facilities.

Click here to read the article on MyFoxCleveland: Are Ohio Nurses Assigned to More Patients Than They Can Handle?

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