Monday, March 26, 2012

Alternative Financing Options

Specifically, Credit Unions, Community Development Financial Institutions (CDFIs), Micro Lenders and Accounts Receivable Factoring Firms all said YES to the majority of their small business financing applications while most larger banks repeatedly said NO.

Although a home healthcare agency owner could be approved for financing by any of the alternative lenders listed above, the best alternative financing option for them is to work with a home healthcare factor, and here's why:

1. Home Health Care Factoring Creates Positive Cash Flow

Some Medicaid waiver programs can take up to a month to reimburse an agency for its pre-approved non-medical in-home services. This lag in payments makes it difficult for new or growing agencies to be able to meet payroll and other financial obligations. However, when agency owners sell their Medicaid receivables to a home care funding firm, funds can be directly deposited into their bank account within hours. Instead of waiting weeks or months, factoring your home care business gives business owners immediate access to cash.

2. Home Health Care Factoring Helps Eliminate Overhead

In addition to providing capital, home health care factors provide invoice processing services, which include the following: posting invoices to a computer, depositing checks, entering payments, following-up on past-due invoices and producing consistent reports. Agency owners can greatly reduce their current overhead costs associated with processing invoices and eliminate the overhead cost of handling collections when they work with a factoring firm. Moreover, agency owners can use the time they used to spend on collections, administration, bookkeeping, talking to banks, etc. to focus on marketing, sales and other business-growing activities.

3. Factoring Medicaid Receivables Helps Home Health Care Agencies Build Credit

As was previously discussed, home health care factoring provides agency owners with adequate cash flow. This new found access to capital gives agency owners the ability to pay its vendors on time, helping them to establish a good credit rating. Having good credit will make it easier for vendors and other financial institutions to extend credit to the agency in the future. In addition, factoring home health care allows agency owners to take advantage of early payment discounts. For example, some vendors will offer a two percent discount if a home health care agency owner pays its bills within ten days. This savings can then be used to offset the cost of factoring.

What Should A Home Health Care Agency Do To Serve Your Needs?

Probably it is time to seek the assistance of a home health care agency if your beloved needs either medical or non medical help. Whilst you've got intentions for being the sole care provider for your loved one, this may turn out to be very hard, on the other hand, the final option is putting them in a home. Know that you are not alone with regards to this problem so you do have alternatives for your beloved, with one of them being help with a home health care agency.

A home health care agency gives numerous beneficial services to you and your family member. As you'll be able to regain things such as time for yourself as well as freedom, your beloved is going to be properly cared for so you don't need to worry. You'll have these facilities brought to you rather than having to bring your beloved from one appointment to another. If you are not sure if a home health care agency will be able to assist you as well as your loved one, here's a perception of the services many agencies offer.

First, they will offer many difference sorts of therapy remedies. Included you'll typically get respiratory, occupational and physical therapies. Through these facilities your beloved will have the ability to live as comfy as possible, enjoy life to their fullest extent, all regardless of age. Whether it is your parent, young child, spouse, and brother or sister, a home health care agency can help.

Next, they also give a selection of other services like assisting with personal needs such as bathing, eating, getting your loved one to meetings, and even just getting them away from the home. In addition to personal care services an ideal agency will also offer patients both live-in care and respite care. With such a service, you can find help for your family member whether it's for a few hours each day or all hours of a day. Health care professionals are available to help with a variety of tasks including things like laundry, keeping the patients room maintained, keeping an eye fixed on their dietary plan, and even running errands. All of these facilities will be provided by an excellent agency.

In a nutshell, no matter what you and your loved one need in order to gain back a high quality of life, home care agencies exist to help, all for an affordable price. A plan will be determined, which can then be accomplished by pros who are qualified to do so. Whether you want help while you're at work, or want to have a family trip, you can get this freedom again. An agency will not only give you freedom, but it can assist with your loved one gaining back their self-esteem, all while being relaxed. These provided services can help every family member, regardless of the patients needs.

Saturday, March 10, 2012

Why the Demand for Home Healthcare Is on the Rise

Plenty of jobs are seeing decreases in demand, even in the seemingly untouchable healthcare industry, but home healthcare is not one of them. On the contrary: the demand for home healthcare professionals is increasing. Many people require home healthcare, either for a short or extended period of time, or even indefinitely, and this group of people continues to grow. It seems that anyone going into the healthcare field right now should consider whether a home healthcare career is right for them.

The increasing demand for health care workers in the home can be attributed in part to the large baby boom generation that is now easing into its golden years. More critically and terminally ill people are also choosing to be cared for at home, rather than spending their precious time in a hospital bed or nursing home. People recovering from injuries and surgeries may opt for home health care services, as well.

New technology means that even home healthcare procedures are more complex and advanced than ever. Plus, people are living longer than ever, and new cures and treatments are allowing people to survive illnesses and injuries from which they might not otherwise have recovered. All these factors have brought home healthcare to the forefront of the job market.

Home health services used to make up a small segment of the healthcare industry, but now home healthcare workers are highly in demand in the United States. The U.S. Bureau of Labor Statistics reports that this increase in patient demand for home healthcare options has led to a boom in this industry, and other sources say it is one of the top jobs in demand for any industry, not just healthcare.

So what kinds of jobs are available in the home health care industry? Nurses are enjoying the largest percentage of home health care jobs, ranging from Licensed Vocational Nurses or Licensed Practical Nurses to Registered Nurses to Nurse Practitioners. Salaries vary, depending on what kind of education, training and certification you have. Your geographic location, employer and years of experience will also affect your income potential.

Some labor statistics point to as high as 50 percent growth in the home health care industry in recent years. More people are requesting this service than ever before. In response, more people are heeding the call and training for jobs in this field, which require skills in a wide variety of medical procedures for a massively diverse patient population.

Thursday, March 8, 2012

Home Health Care Agency Tips

Getting home health care services is an investment. It would be something that your family would be considering for a long time. With this, you need to make sure that your care services are appropriate for the care recipient. You should also look at the other details of the agency when it comes to the professionals that they are hiring.

The first thing you need to do is find a list of accredited and licensed agencies. This would give you the basic assurance that you would be getting the right and the best kind of home health care for your folks.

Once you get this list, it would be best to make a shortlist in terms of their proximity to your home. This way, you can take time to visit them and also research about them. You can go to the location and check it out yourself. You should know how long the agency has been in operation so far so that you would be able to qualify how they would serve the purpose of caring for your folks.

Reference checks are a must. You need to be sure that the care worker is licensed and also comes from a clean background. So you should also make it a point to ask what specific methods your home health care agency uses when it comes to hiring their health professionals.

Speaking of references, you should also ask if they get in touch with specific agencies or professionals for the said background information. This would also help you understand how well-affiliated they are with other networks.

You should also look at the specific services being offered by the home health care agency. Make sure that they have what your folks need and what the doctor would have to prescribe to them. It is important that the care provided in the agency also coordinates well with your folks' medical condition.

Once you have zeroed in on your home health care agency, better book an appointment with them. This way you can discuss in person all the necessary things that you would want to ask and clarify. You should also ask if you can be given the chance to choose the professional to work with your folks.