Hospitals and Health Care Organizations
Whether operating on a not-for-profit or for-profit basis, all hospitals have one thing in common: they need to figure out ways to continue to serve the community while holding the bottom line in today’s highly competitive and financially challenging environment.
We understand the issues hospitals face
Sibson Consulting’s significant experience in the hospital marketplace makes us familiar with common issues and problems among health care organizations, and we can bring to the table suggestions and solutions that have worked in similar situations. However, we also know that every facility and health system is unique, and we will invest the time to understand your organization’s issues.
Common issues include:
- Staff recruitment and retention: While organizations in other sectors of the economy may be downsizing or restructuring, the hospital and health care sector is growing and is expected to continue to grow as our population ages. Hospitals are having a difficult time attracting qualified individuals – including nurses, lab technicians, radiation technicians and pharmacists, among other key stakeholders – and maintaining workforce satisfaction. (link to webinar)
- 403(b) compliance: Hospitals need to ensure they are in compliance with the new plan design, administration and documentation requirements for 403(b) retirement plans that take effect on January 1, 2009. (link to webinar)
- Leveraging internal resources: As health care providers, hospitals have extensive internal resources that can be tapped when creating wellness, employee assistance, in-house pharmacies and disease management programs.
- New form 990 requirements: Hospitals now face additional disclosure requirements for executive compensation, including required reporting of expenses for housing, travel for spouse, club membership dues, etc. (link to webinar)
- Using in-house pharmacies and providers: Using a hospital’s in-house pharmacy can provide convenient access and potential savings for hospitals and health systems. Many hospitals also encourage utilization of their own facilities through an EPO (exclusive provider organization), triple option, or an “inner” tier network PPO option.
We are committed to the hospital and health care market
One of Sibson’s most important differentiating qualities is our commitment, knowledge and extensive experience in the hospital/health care industry. Our extensive list of hospital/health care clients speaks volumes for our hospital/health care focused strategy.
Sibson makes significant educational, leadership and financial commitments to the hospital industry through our support of local, regional and national organizations including the American Society for Healthcare Human Resource Administration (ASHHRA). Our professionals are advisors to national organizations and frequently speak at meetings, webinars and conferences. Sibson consultants also belong to and participate in the Healthcare Financial Management Association locally, regionally and nationally.
Our dedicated National Hospital Market Leader, Glenn Alonzo, has over 20 years of experience working closely with hospitals and health care organizations. In addition to being a longstanding and active member of the Connecticut and Rhode Island chapters of ASHHRA, Glenn serves on national, regional, and local Conference and Educational Committees for ASHHRA.
For more information about how we serve the hospital and health care market, please contact Glenn Alonzo at 860-678-3013 or galonzo@sibson.com.