Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
Understanding Professional Employer Organizations [ PEOs]
By Eric Galtress
www.BusinessofMedicalPractice.com
One way to improve human resources [HR] is to recruit physicians, nurses, technicians, allied healthcare providers and other hospital personnel who bring in a certain expertise and disseminate it to other employees.
Hospitals, larger practices and medical clinics are increasingly hiring materials managers from other industries, for example, to upgrade their materials management capabilities; so why not medical and other related professionals, as well?
Hospitals Lag Conventional Industry
And, hospitals often lag far behind other industries with regard to professional human resource activities. For example, hospitals can hire personnel with experience in other professionals settings in order to gain new perspectives in physician management and leadership. With these new perspectives, agreements with doctors and other providers can be renegotiated to make a hospital or clinic more competitive.
Internal Recruitment
Internally, improving the financial performance of any healthcare organization is a skilful balance between cinching the belt and investing in the right growth strategies. Whether that strategy calls for expanding a clinic, moving into a key market, or adding a new clinical program, recruiting the right physicians and medical personnel becomes all important in achieving economic goals. Without physicians and ancillary personnel there are no patients. Indeed, doctors, nurses, and providers are key drivers in any healthcare organization’s growth strategy.
Simply put, finding and hiring the right medical professionals is a surefire prescription for success. A winning centralized operational process includes: needs and criteria determinations; materials for sales, marketing and recruiting; interviews and onsite visits; and the correct reimbursements package with employment contract.
External Recruitment
External recruitment, on the other hand, may involve use of a professional employer organization (PEO) as hospitals and healthcare entities may find that employee leasing, also referred to as co-employment, can be an effective strategy to combat the spiraling costs of having a professional recruitment and clerical support staff. PEOs can offer financial and administrative benefits to hospitals, which in turn, can increase staff loyalty and reduce turnover. Office-based physicians will find that the personnel services of an employee leasing company will give them more time to address the efficiency of their practices and the quality of care they provide for patients.
Simply put, instead of the healthcare organizations, clinic, hospital, or practitioner being the employer of record of the workplace employees, this responsibility is outsourced to an off-site PEO that specializes in hiring, retention, labor management, and cost control.
Assessment
In a PEO, the healthcare organization retains functional control of the employees, and the PEO handles the HR management issues. The PEO can provide these HR services more cost effectively by combining employee groups and servicing their needs along with the employees of the many other healthcare organizations they already serve. Outsourcing becomes a matter of simple economics.
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- DICTIONARIES: http://www.springerpub.com/Search/marcinko
- PHYSICIANS: www.MedicalBusinessAdvisors.com
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- BLOG: www.MedicalExecutivePost.com
- FINANCE:Financial Planning for Physicians and Advisors
- INSURANCE:Risk Management and Insurance Strategies for Physicians and Advisors
Share this:
Filed under: Career Development, Practice Management | Tagged: Hospital Personnel and Physician Recruitment, Hospital Recruitment, PEOs, Physician Recruitment | 5 Comments »
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 