Home health care is one of the largest-growing industries in the nation, with demographics of an aging population driving rapid progression. With increased demand comes increased opportunity to grow and expand. Choosing a healthcare business loan that allows you to obtain more market share without putting pressure on your cash flow is essential.
Home Health Care Equipment Financing
Whether you are running a nonmedical home health business or a skilled medical care business, having the most up-to-date equipment can set you apart from the competition. Computer and back-office systems are needed in all types of home health care businesses. Monitoring systems that integrate with hospital networks and mobile pharmaceutical units can make your business run even more efficiently; yet buying and learning these new technologies is a considerable investment.
For nonmedical in-home services, smaller inventory is needed. However, for medical or skilled-care services, owners need to purchase everything from wheelchairs to hospital-style beds and portable oxygen tanks. You will also need pharmaceuticals, respirators, walkers, catheters and wound care. Across the board, older medical systems are constantly being replaced with newer, faster and less intrusive equipment. Having the most up-to-date versions will help set your business apart from the rest.
Fundation’s healthcare business loan products are perfect for large software upgrades or large equipment purchases such as those needed to add rehab services to your business.
Expanding Your Personal Care or Elderly Care Nursing Business
An estimated 17 percent of the population will be 65 years of age or older by 2020. Many in the home health care industry are seeing an opportunity to expand and fill the growing need for medical care for the elderly. Expanding a home health care business most commonly involves hiring new employees as well as business expansion and acquisition financing.
The market is highly fragmented, with over 50 percent of home health agencies generating less than $3 million in revenue. As a result, established players in the industry are making acquisitions to consolidate the playing field and gain access to states where they previously did not have certifications.
If you are looking to purchase another franchise, it is important to research your competition first. Becoming a member of the Home Care Association of America can give you resources to help you make the right decision about which area to expand in.
If you are looking to purchase another franchise, it is important to have the correct financing to do so. Fundation specializes in home health care acquisition financing as well as home health care business loans for new hires.
If you’ve recently been licensed in a new county and you’re looking to hire additional nurses, Fundation’s home health care business loan payment structure will enable you to make significant investments without putting your cash flow under pressure. Find out all you need to know about Fundation’s small business loans and start the process of getting funded today.
The information contained on this page is for general informational purposes only. It is not legal advice and should not be relied upon in making borrowing decisions. Fundation loans are subject to lender approval.
Fundation combines the benefits of a bank loan with the ease and efficiency of an online lender. We offer conventional loans with competitive rates to businesses with varying credit profiles. Our technology allows us to deliver capital in as few as 3 business days through streamlining the collection and evaluation of customer information and conducting the majority of the lending process electronically. As a direct lender, we use our own capital to originate and hold the loans we make, so that we can focus on building relationships with our customers. Our dedicated customer relationship model enables us to understand each unique borrower’s business. This level of service, coupled with our best-in-class products, is why many of our customers come back to us repeatedly for more capital.