Unpredictable healthcare staffing and medical accounts receivables financing
One of the interesting aspects of the healthcare system is that is never stops. There are healthcare providers operating 24 hours a day, seven days a week through holidays, weekends, emergencies, weather disasters and other traumatic events. As a matter of fact, the healthcare industry is called upon to function at even greater levels than usual when events happen that would cause other industries to shut down. The need to be adequately staffed and have adequate supplies on hand at all times is always present, but is made difficult by the need to keep profitability intact for share holders, sometimes at the expense of both medical workers and patients.
Unpredictability is one of the ongoing struggles of hospitals and healthcare providers who are called upon during emergencies. The lack of ability to predict the times when increased staffing and supplies are going to be necessary in order to adequately respond to an emergency stretches budgets thin because it is always more beneficial to error on the side of caution and overstaff than it is to gamble and be understaffed if an emergency strikes. Supplies fit into the same budgetary issues, being necessary to keep on hand even during slow times because it is not possible to predict the emergencies when they will be needed. This lack of predictability in the industry creates the unique situation where those in charge of budgets do not have the ability to cut costs in the typical ways a business will, and still maintain the ability to serve adequately if emergencies happen.
The dual priorities of providing adequate medical services to an unpredictable community and the attempt to consistently remain profitable take the hardest toll on nurses, nursing assistants and other lower-wage healthcare workers, who are expected to over perform during emergencies while still not seeing staff increases that would make the jobs easier. Most staffing decisions are made favoring keeping the fewest numbers of staff on at any moment, which creates issues if one of those workers who is on the schedule cannot come in due to illness or other reasons. These times create a staffing gap that can cause the facility to be under-prepared for an emergency or increase in patients. In many states, nursing organizations are pushing for staffing ratios to be mandated, as well as implementing less stringent policies regarding sick days. All of these potential solutions to the staffing and supplies issues lean towards increased costs ongoing, and potentially create the issue for medical providers needing an ongoing ability to produce free cash on hand in order to cover costs on a month to month basis. Luckily, medical account receivable financing through Med Care Solutions programs offer exactly that ability.
Medical accounts receivables financing is the utilization of the current money that is owed to the facility through the past treatment of patients. While these monies have yet to be collected, they represent a valuable asset to the healthcare facility in that they can be purchased by Med Care Solutions when the necessity to generate immediate cash for expenses arises. Through participation in the programs offered through Med Care Solutions, healthcare facilities have a greater ability to deal with the unpredictable nature of their industry by maintaining staff and supply levels that insure adequate abilities to respond to emergencies, and while maintaining profit levels by balancing the good financial months with the less profitable months. The stresses of being caught understaffed or undersupplied during a period that was financially difficult are no longer an issue, and Med Care Solutions as a partner can assist your facility in maintaining a more predictable income level, and therefore a predictable staffing level.