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Sep 27, 2022
2 min read
Last update: May 16, 2024

Help Your Healthcare Business Grow Stronger with Financing from SBG

Keeping up with changing regulations, insurance companies, employees, vendors, and the endless administrative work that comes with running a medical practice can be pretty overwhelming. While we’re not doctors, SBG can help finance your practice’s operational and growth costs so that you can focus on delivering top notch care to your patients.

Here are a few of the ways healthcare financing can help you overcome common industry challenges and grow your practice:

Tackle Staffing Shortages

Many medical practices and home healthcare agencies have been experiencing a major staffing shortage. There have been countless stories in the news of home healthcare agencies having to turn away business due to not have an adequate number of healthcare employees on board. In order to meet staffing demands, healthcare employers can consider the following:

  • Entice Workers with Attractive Offers

It’s not enough to offer what every other agency or practice is offering. Candidates want competitive pay +benefits, a positive work environment, with the possibility for growth.

  • Make the Onboarding Process a Positive Experience

Spending the time and resources on developing an effective onboarding process not only ensures that new employees feel welcomed, but it also significantly increases your employee retention rate. In fact, 69% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Expanding or Renovating Your Practice

  • Expansion

Healthcare financing can help you grow your practice by expanding to a second location, building an addition, or adding new services to meet the needs of your patients.    

  • Renovation

Is your office inviting and clean? Or do things look a little drab and antiquated? If so, it is probably time to renovate. Having outdated equipment, older TVs, and worn-out furniture doesn’t give your patients a good impression. By investing in the appearance of your office, you’ll keep things looking fresh, calming, and welcoming. A few simple upgrades and a new coat of paint can go a long way.

The Need to Adopt Digital Solutions

The COVID-19 pandemic has undoubtedly accelerated the adoption of technology in the healthcare industry. This digital transformation is not likely to slow down anytime soon, and in order to provide an optimal patient experience, medical practices have to keep their fingers on the pulse. With extra capital, your healthcare business can implement technology upgrades such as:

  • Creating an Online Patient Portal

This allows patients the ability to make appointments, send the provider a message, view their test results, fill out forms, upload photos of their insurance cards, make payments, and access their medical records.

  • Investing in a Telehealth Infrastructure

Some patients prefer telemedicine over in-person visits. If your practice doesn’t offer virtual doctor’s visits, you may be missing out on a large share of the market.

  • HIPAA Complaint Cloud Data Storage

In order to securely manage the data of your patients, a HIPAA compliant cloud hosting solution is a must.

SBG Funding is Always on Call to Help Your Medical Practice with Healthcare Financing

In addition to the ideas mentioned above, here are a few more ways our healthcare business financing can help:

  • Upgrade medical equipment
  • Improve cash flow
  • Bridge the gap on insurance receivables
  • Cover operational costs
  • Meet industry regulations
  • Launch new marketing campaigns

Surely, It’s Time Someone Took Care of You!

We provide funding solutions to many types of healthcare businesses such as home health agencies, dentist offices, long-term care facilities, medical offices, and more. Contact us today for more information about how we can help your healthcare business grow stronger.

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