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Case for outsourcing sales presentation


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Case for outsourcing sales presentation

  1. 1.         Outsourced Services The Case for Outsourcing
  2. 2. Challenges for Healthcare Providers <ul><li>Administrative Headaches - Inefficiencies </li></ul><ul><ul><li>Timely and Accurate Financial Information </li></ul></ul><ul><ul><li>Efficient / Effective People Administration </li></ul></ul><ul><ul><li>State and Federal Regulation Knowledge </li></ul></ul><ul><ul><li>The Ability to Attract and Keep the Best People – Employee Turnover </li></ul></ul><ul><ul><li>Keeping Up with Changing Technology </li></ul></ul><ul><ul><li>Long Term Cost Containment </li></ul></ul><ul><ul><li>Cash Leaks and Drains </li></ul></ul><ul><ul><li>Executive Level Business Council </li></ul></ul>
  3. 3. Typical Back Office Responsibilities & Functions <ul><li>Human Resources </li></ul><ul><li>Employment Law </li></ul><ul><li>Health and Welfare </li></ul><ul><li>Staff Attraction & Retention </li></ul><ul><li>Payroll & Compensation </li></ul><ul><li>Workers’ Comp </li></ul><ul><li>Values Based Culture Development </li></ul><ul><li>Revenue Cycle Functions </li></ul><ul><li>Accounting &Accounts Payable </li></ul><ul><li>Cash Management General Ledger </li></ul><ul><li>Budgeting-Capital and Operating </li></ul><ul><li>Credentials Verification </li></ul><ul><li>Business Consulting and Management Expertise </li></ul><ul><li>Administrative </li></ul><ul><li>Management of Employee Information </li></ul><ul><li>Claims Administration </li></ul><ul><li>Recruiting & Staffing </li></ul><ul><li>HRIS Web Portal </li></ul><ul><li>State and Federal Regulations </li></ul><ul><li>Information and Technology Support </li></ul><ul><li>HR Legal Expertise </li></ul>
  4. 4. Are you a vendor manager? Provide the best quality health care? Community outreach? Patient care? Growth of business? Culture development? Nurture alliances and partnerships? Profitability? Competitive advancements? Market changes? Keeping good employees? HIPAA & Patient Safety Business Consultant Credentialing Expertise Technology Support Staff & Recruiting Service 3 rd Party & COBRA Administration Employer Legal Council Accountant Tax Preparer Payroll Service Provider Employee Benefit Insurances 401K Workers Compensation & Liability Insurances Outside Human Resource Expertise You & Your Facility
  5. 5. Why Outsourcing makes sense Source: “The Black Book of Outsourcing” by Brown and Wilson <ul><li>Reduce Cost </li></ul><ul><li>Reduce Risk </li></ul><ul><li>Maximize Performance </li></ul><ul><ul><li>Outsourcing brings greater efficiencies without </li></ul></ul><ul><ul><li>having to invest in added people and technology – saving time and money-leading to better service levels </li></ul></ul><ul><ul><ul><ul><li>Outsourcing enhances profitability; leading to increases in shareholder value; be an employer of choice; gain a competitive advantage </li></ul></ul></ul></ul><ul><ul><ul><li>Outsourcing provides instant access to expertise; reduces </li></ul></ul></ul><ul><ul><ul><li>business mistakes and reduces risk </li></ul></ul></ul><ul><ul><ul><li>Outsourcing frees up time to focus on core competencies </li></ul></ul></ul><ul><ul><ul><li>maximizing revenues </li></ul></ul></ul>
  6. 6. Employment Law Regulation From the early 1900’s to current - new laws and regulations create business challenges
  7. 7. <ul><li>Average Award Amounts for Non-compliance </li></ul><ul><li>Wrongful Termination $219,000 </li></ul><ul><li>Race Discrimination $147,000 </li></ul><ul><li>Gender Discrimination $106,000 </li></ul><ul><li>Disability $100,300 </li></ul><ul><li>Pregnancy $ 87,000 </li></ul><ul><li>Sexual Harassment $ 37,500 </li></ul>Employment Law Regulation Protect yourself from potential lost profits
  8. 8. MedHQ can help contain the rising costs associated with being an employer. Human Resources Expenditure per Employee
  9. 9. Employee Turnover Costs <ul><li>Source Turnover cost,    Documentation - Supporting material  </li></ul><ul><li>$8/hr. employee </li></ul><ul><li>American Management 30% of Annual Salary </li></ul><ul><li>Association $4,000.00 - The cost of hiring and training a new employee can vary from 25 percent </li></ul><ul><li>$4,800.00 to 200 percent of annual compensation. Costs include customer service </li></ul><ul><li>disruption, emotional costs, loss of morale, burnout/absenteeism among </li></ul><ul><li>remaining employees, loss of experience, continuity, and </li></ul><ul><li>“ corporate memory.” </li></ul><ul><li>Hay Group study $8,000.00 The cost of replacing workers range from six months of an hourly workers </li></ul><ul><li>to 18 months salary of a professional employee. </li></ul><ul><li>Saratoga's Human Resource $16,000.00 Average turnover cost  equals one year's salary and benefits. This can vary </li></ul><ul><li>Financial Report widely depending on  industry. </li></ul><ul><li>Workforce Magazine $10,000.00 45% of responding companies indicated that turnover costs are more than </li></ul><ul><li>$10,000 per employee </li></ul><ul><li>  </li></ul>Compilation of turnover cost studies Sasha Corporation,  Since 1984 HR Consulting & Development
  10. 10. <ul><li>Build High Performance, Customer Service Teams, Improve employee retention and morale while eliminating non-productive administration in order to re-focus on bottom line activities </li></ul><ul><li>Health Care Economies of Scale </li></ul><ul><li>Benefits Value and cost stability in order to create operating leverage </li></ul><ul><li>Shared risk </li></ul><ul><li>Risk management control in order to reduce employer liabilities and vulnerabilities . </li></ul>Outsourcing Value Add
  11. 11. Typical Business Office Functions <ul><li>Human Resources </li></ul><ul><li>Employment Law </li></ul><ul><li>Health and Welfare </li></ul><ul><li>Staff Attraction & Retention </li></ul><ul><li>Payroll & Compensation </li></ul><ul><li>Workers’ Comp </li></ul><ul><li>Values Based Culture Development </li></ul><ul><li>Revenue Cycle Functions </li></ul><ul><li>Accounting &Accounts Payable </li></ul><ul><li>Cash Management General Ledger </li></ul><ul><li>Budgeting-Capital and Operating </li></ul><ul><li>Credentials Verification </li></ul><ul><li>Business Consulting and Management Expertise </li></ul><ul><li>Administrative </li></ul><ul><li>Management of Employee Information </li></ul><ul><li>Claims Administration </li></ul><ul><li>Recruiting & Staffing </li></ul><ul><li>HRIS Web Portal </li></ul><ul><li>State and Federal Regulations </li></ul><ul><li>Information and Technology Support </li></ul><ul><li>HR Legal Expertise </li></ul>
  12. 12. Time and Focus on Your Facility You & Your Facility Growth Profitability Company Culture Patient Care Increased Revenues Build Alliances & Partnerships Community Outreach State-of-the-Art Healthcare Services Facility of Choice
  13. 13. Time + Money + Focus = Total Bottom Line Costs 401K Provider Recruiting Services HR Legal Council Added Admin Overhead ______ ______ ______ ______ ______ ______ Payroll Service TPA Costs/Annual Renewals Supervisor Training ______ Core Time Lost Total Annual Payroll _______ Current MedHQ Total Annual Payroll $ _______ ______ ______ IT Support Employee Turnover Cost ______ Compliance & Safety ______ $ $ ______ _ $ ________ MedHQ’s Platform of Services People Expertise Technology $_______
  14. 14. <ul><li>Specialized; Focused Solely on Healthcare Market </li></ul><ul><li>Started serving Ambulatory Surgery Centers- October 2, 2002 </li></ul><ul><li>Skilled Healthcare Administrative Staff </li></ul><ul><li>CPA’s, Human Resource Professionals, Payroll Specialists, Healthcare Executive Management and Consultants, Credentialing Specialists, Technology Expertise </li></ul><ul><li>The Provider of Choice for Nationwide Healthcare Business </li></ul>Why MedHQ ?
  15. 15. “ We have been working with MedHQ for five years. The medical benefits provided through MedHQ are best of class, have kept us competitive in the market and has helped our ASC partners attract and keep great employees. This could not have been accomplished on our own. There are so many back office functions to attend to in running an ASC. MedHQ has provided our ASC partners accounting solutions that are timely and accurate. We trust our MedHQ team and know that our bottom line has been impacted by utilizing the accounting resources provided by MedHQ” Thomas Mallon, Chief Executive Officer, Regent Surgical Health “ On a monthly basis, our Accounting Specialist and I have constant communication about the budget, taxes, billing, revenues, expenses, and Blue Cross. There is no one single event that stands out; rather, accounting specialist is a steady, reliable resource to me for concerns and questions that we have in these areas. When I have been pressed for time in preparing for my board meetings, he will do his utmost to speed things along so that I can have the monthly financials as quickly as possible.” Thomas Holecek, Administrator, Palos SurgiCenter Palos, IL Why MedHQ?
  16. 16. With MedHQ it does not have to be a challenge anymore… MedHQ specializes in providing Accounting Expertise, Payroll Management - Time & Attendance Solutions, Human Resources, Employee Benefit Management, IT Solutions, Credentialing and Consulting exclusively to Healthcare Business MedHQ The Experts for Healthcare Back Office Operations
  17. 17. 2. HR Audit Process Assess Needs 4. Approve Proposal Concept 3. Select and Execute Strategies Is MedHQ the solution for you? 1 . Assess Business Fit
  18. 18. <ul><li>Robin Lacine </li></ul><ul><li>Executive Director of Business Development </li></ul><ul><li>MedHQ </li></ul><ul><li>4 Westbrook Corporate Center, #440 </li></ul><ul><li>Westchester, IL 60154 </li></ul><ul><li>(708) 492-0519 office </li></ul><ul><li>(708) 492-0547 fax </li></ul><ul><li> </li></ul>