One of our “Favorite” Partnerships in Healthcare
At Kompass Funding, we are fortunate to have the opportunity to partner with one of the most tenured and respected medical staffing companies in the country, Favorite Healthcare Staffing.
Favorite established its first branch in 1981 in Seattle, Washington. It has since grown to a national presence working with facilities across the US and partnering with over 250 subcontracted staffing companies. For those who are not familiar with the staffing industry, staffing companies will leverage subcontracted relationships with other staffing firms to help fulfill facility contracts they otherwise may not be able to meet.
One unique component of the staffing industry is the frequency they pay employees. Most staffing firms will pay workers on a weekly and in some instances, daily basis. The problem is that in many situations, healthcare facilities can take 60/90/120 + days to pay the staffing companies causing them to operate without consistent cash flow.
That is precisely why we developed Kompass Accelerate with Favorite Healthcare. Our program allows us to fund subcontracted companies on a weekly basis and based on their weekly billing amount. This creates a streamlined payroll and invoicing process for staffing firms so they can now focus on other parts of their business.
Kompass Accelerate is just another example of our partnership with industries that experience delayed payments from clients and a way to keep cash flow strong.
Please feel free to visit Favorite Healthcare if you are interested in becoming an affiliate vendor of our Kompass Accelerate program.