Factoring for Medical Staffing Agencies
Does your medical staffing company need some cash flow life support?
Is your medical staffing business struggling to make payroll or other operating expenses? Are you thinking about applying for a bank loan or yet another company credit card in order to meet expenses? Consider invoice factoring to boost your staffing agency’s cash flow. With factoring, you can utilize the creditworthiness of your customers to get funding without adding any more debt to your healthcare staffing business.
How Factoring Works for Medical Staffing Firms
Consider this: The staffing factoring process is very simple. Factoring companies buy your open invoices at a discounted rate of up to 90%. Then, they advance you the cash within 24 hours. The factor bills your customers based on the agreements you already have with them. Once your clients pay, the remaining funds are released back to you, minus a small factoring fee.
It doesn’t matter if your clients are nursing homes, hospitals, or other medical providers, factoring ensures your medical staffing company will no longer have to wait a month or longer to get paid.
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Additional Services for Medical Staffing Agencies
Factor Finders has decades of experience in the staffing factoring industry and works with a dedicated network of staffing factoring companies to provide the best service possible to clients.
Accounts Receivable Management and Payroll Factoring
Factors can manage your staffing invoices, complete cash applications, and provide activity and gross profit reports
Optional competitive worker’s compensation benefits, as well as provide audit preparation, payment, and maintenance systems
Accounting Services
Handle your quarterly or annual payroll taxes and insure timely payments
Analyze cash flow and ratios, reconcile and manage financial statements, and prepare depreciation schedule
Schedule consultations for important financial advice
Administrative Services
Full payroll services, including issuing of W2s and stop payments
Professional reception services during normal hours of operation
Issue and update billing reports
Payroll Processing and/or Managing Invoicing
Manage all aspects of payroll, including taxes and direct deposits
Track employee hours and weekly sales
Generate the reports you need concerning sales and staffing