Featured on Physician’s Practice: How Merchant Cash Advances Can Help Manage Practice Staff Shortages

male physician holding patient notes

Medical practices are one of many industries feeling the harsh effects of the “great resignation”, including sudden staffing shortages, particularly in the field of nursing.

Though there are many things medical practices can do to not only hire new staff, but to retain them as well, overcoming staffing shortages often requires an investment of working capital. Merchant cash advances (MCAs) are an ideal source of medical practice funding for those looking to boost cash flow in order to hire and retain qualified staff.

In our latest post for Physician’s Practice, we take a closer look at how merchant cash advances can be used to attract new hires and retain existing staff, including:

  • Offering overtime
  • Upskilling existing staff
  • Hiring new staff
  • Offering higher wages and better benefits
  • Providing flexibility to new and existing employees
  • Investing in technology to help you automate and reduce staffing needs
  • Working with a staffing agency
  • Offering employee referral bonuses
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With over 25 years’ experience in financial services, Pamela Kohl has worked closely with banks, alternative finance, and other fintech platforms to develop core banking services, as well as establish new card programs, lending programs, and global payments platforms. She has been nationally recognized for creating innovative solutions, leveraging new markets, and developing winning strategic partnerships. Currently, Pamela serves as Vice President of Marketing at Greenbox Capital. Pamela earned a B.A. from Marshall University, summa cum laude, and M.A. in International Economics from the University of Miami, where she graduated with Distinction.