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Working capital for home health and hospice agencies — meet caregiver payroll while Medicare, Medicaid and other payers pay, sized on your deposits.
A home health or hospice agency pays for care before it is paid for it. Nurses, aides, therapists and social workers are paid weekly or every two weeks for the visits they make now, while each payer pays the claims for those visits later, on its own schedule. A growing census widens the gap before it closes it: every new patient adds payroll at once and deposits afterwards. Working capital sized on the deposits the agency already receives bridges that gap, so payroll does not wait on the payers.
We fund home health agencies, hospices, and home care and private-duty agencies, from a single office to groups with several branches: $5,000–$10 million, decisions within 24 business hours, qualified on 4+ months in business and $10,000+ in monthly revenue. Many hospices are non-profit organizations, and a non-profit qualifies on the same bar as any other organization.
Underwriting reads four months of business bank statements, where an agency’s two rhythms sit side by side. Deposits from Medicare, Medicaid, managed-care plans, private insurers and clients paying privately each land on that payer’s own schedule, while caregivers are paid weekly or every two weeks. Offers are sized on what the payers actually paid: a visit billed but not yet paid, or a claim still being reworked after a denial, adds nothing until it is deposited, so the estimate follows the account rather than the billing report.
Agencies typically see 80%–150% of average monthly revenue, within $5,000 to $10 million. Because each payer pays on its own schedule, underwriting reads deposits rather than billings, so expect sizing to follow what actually landed in the account; the offer itself is set per deal during underwriting.
Yes. That gap is the one this funding is for: caregivers are paid every week or two, and each payer pays on its own schedule, so the shortfall reopens every pay period and grows with the census. Sizing reads the deposits already in your statements, so the funding rests on revenue the agency has rather than revenue it expects. Weekly, bi-weekly or, for qualified clients, monthly schedules are available (daily available on request). Tell us your payroll day and when your largest deposits usually land before a schedule is set.
No. The deposits are the revenue: Medicare payments land in your account and read as revenue like any payer’s. What a dominant payer can change is the amount rather than the answer. An agency weighted toward a single payer carries different risk than one spread across several plus private pay; it rarely disqualifies, but it can moderate the amount. If a second payer or a private-pay book is growing, say so on the application.
It can lower the figure, because sizing reads the deposits and a census dip reaches them after the visits fall: each payer pays on its own schedule, so a thin month in four months of business bank statements can belong to a census that has already recovered. That reads better explained than left to be inferred, so say on the application what happened, when, and what your census and referrals look like now. If it happens after you are funded, call before a payment is missed rather than after. If your sales slow, you can ask us to adjust your payments to your actual revenue; we answer a request within 5 business days.
The same base as every file: four months of complete business bank statements, a valid form of ID, a voided business check and basic business information. Above about $250,000 we often, though not always, also ask for the most recent business tax return and either year-to-date financials or an A/R aging report, depending on the business. If each branch banks separately, send four months for every operating account and say which is which; transfers between your own accounts are netted out rather than added. A decision comes within 24 business hours of a complete submission.
No. A non-profit qualifies on the same bar as any other organization: at least 4 months in operation, $10,000 or more in monthly revenue, and a business bank account. Underwriting reads your deposit history, so a hospice’s tax status does not change what it looks at, and the estimate is the same 80% to 150% of monthly revenue.
Yes. Sizing is on the agency’s existing deposits, so the new office does not need to be producing yet, even though its rent, its staff and its first caregivers cost money from the day it opens. Funding an opening against referral relationships you already have is straightforward; funding one against referrals you hope to win adds a fixed payment to an uncertain bet.