10 Ways to Save $10,000 in Human Resources: Better Unemployment Claims Management

As ambulatory surgery centers (ASCs) face more competition in the marketplace and falling reimbursements, they need to operate as efficiently as possible. Saving money on HR-related costs is one way they can thrive.

MedHQ has worked with over 70 healthcare facility partners to find HR savings that also deliver the benefits of improving employee satisfaction and reducing risk.  Through the process, MedHQ gleaned a host of key findings that guided the creation of the MedHQ 10-Point HR Audit (10-Point HR Audit). The 10-Point HR Audit identifies inefficiencies that, when addressed, can result in six-figure savings for a healthcare facility.

One money-saving strategy the audit identified is to better manage the unemployment tax. When an unemployment claim is filed, states lean heavily in favor of the employee. However, there are things a surgery center can do to keep claims minimal.

States have different taxable wage formulas and the rate at which wages can be taxed can vary from 1-7%.

“The tax rate percentage can be negotiated to a lower rate,” said Tom Jacobs, MedHQ CEO. “And not all employers stay on top of this. MedHQ has audited centers with an unemployment tax rate as high as 9% or as low as 3%.”

Centers can save $3,500 – $10,000 annually by better managing unemployment tax.

Click here to download the MedHQ white paper, “10 Ways to Save $10,000 in Human Resources.”

About the MedHQ 10-Point HR Audit
It takes approximately one or two hours for back office staff to gather the information necessary for the 10-Point HR audit. Typical savings = six figures. Request your risk-free 10-Point HR Audit today. If MedHQ fails to identify $25,000 in savings, the audit is free.

10 Ways to Save $10,000 in Human Resources: Outsource Prep Work For Open Enrollment

As ambulatory surgery centers (ASCs) turn over every stone to find the efficiencies that will help them stay competitive in a changing marketplace, looking hard at HR practices is an excellent place to find savings.

 

One of the simplest ways for an ASC HR department to save money is to outsource the work that is necessary to prepare for the employee benefits open enrollment period. Administering an open enrollment period can take weeks of preparation, costing the department 40-80 hours of productivity.

 

MedHQ has worked with over 70 healthcare facility partners to find HR savings that also deliver the benefits of improving employee satisfaction and reducing risk.  Through the process, MedHQ gleaned a host of key findings that guided the creation of the MedHQ 10-Point HR Audit (10-Point HR Audit). The 10-Point HR Audit identifies inefficiencies that, when addressed, can result in six-figure savings for a healthcare facility.

 

Productivity lost on open enrollment preparation and administration can be even higher for surgery centers with more employees and high turnover. More efficient open enrollment preparation, combined with outsourcing the time it takes to evaluate and decide upon benefits renewal, has a pair of advantages:

 

  1. Outsourcing open enrollment work can save a center up to $10,000each year
  2. And, it allowscenter management to stay focused on high-value priorities

 

Click here to download the MedHQ white paper, “10 Ways to Save $10,000 in Human Resources.”

 

About the MedHQ 10-Point HR Audit
It takes approximately one or two hours for back office staff to gather the information necessary for the 10-Point HR audit. Typical savings = six figures. Request your risk-free 10-Point HR Audit today. If MedHQ fails to identify $25,000 in savings, the audit is free.

10 Ways to Save $10,000 in Human Resources: Controlling Compensation Costs Helps ASCs Compete

One way an ASC’s HR department can help a center operate more efficiently in a competitive marketplace is to cut down on costs by utilizing fair compensation programs that will draw desirable and qualified employees. This strategy will also cut down on costly high turnover rates, which can force surgery center management to be in perpetual hiring mode.

 

MedHQ has worked with over 70 healthcare facility partners to find HR savings that also deliver the benefits of improving employee satisfaction and reducing risk.  Through the process, MedHQ gleaned a host of key findings that guided the creation of the MedHQ 10-Point HR Audit (10-Point HR Audit). The 10-Point HR Audit identifies inefficiencies that, when addressed, can result in six-figure savings for a healthcare facility.

 

To find compensation savings, MedHQ developed and utilizes a 100-question job analysis guide to understand how much a job is ‘worth’ relative to other jobs. Each job is scored and compared to ASC association data to determine pay. When employees understand the thoughtful, fair process, they are more satisfied and turnover is less likely. Two benefits are:

 

  1. Centers can save $10,000- 12,000 per person by minimizing unwanted turnover
  2. Centers can also save on related replacement costs including advertising,hiring temporary and permanent placement agencies, as well as onboarding new employees.

 

“A good process is to score each job well and then use data from credible sources such as the Ambulatory Surgery Center Association regarding the average pay for specific positions, keeping in mind the same job may be weighted differently at different centers,” said Tom Jacobs, MedHQ CEO. “MedHQ uses the data as a starting point, then takes into account information gleaned from the 100-question job analysis guide to structure compensation guidelines for each surgery center.”

 

Click here to download the MedHQ white paper, “10 Ways to Save $10,000 in Human Resources.”

Becker's ASC | MedHQ

Join MedHQ at Becker’s Annual Meeting: The Business and Operations of ASCs

MedHQ is honored to be attending the 23rd Annual Meeting: The Business and Operations of ASCs hosted by Becker’s ASC Review.

The conference takes place Oct 27-29 at Chicago’s Swissotel, and offers attendees over 100 sessions to choose from. There will be over 200 total speakers, including physicians ASC administrators speaking on a variety of topics. All told, more than 1,000 attendees are expected at the event, which focuses on business, clinical and legal issues faced by ASCs.

Tom Jacobs, CEO of MedHQ, is looking forward to attending the conference and speaking with colleagues about how back office management services, such as human resources (HR) and accounting functions at surgery centers can be given proper attention and provide maximum cost savings. As the ASC market continues to mature, streamlined and cost-conscious HR functions are now a necessity.

“MedHQ is here to help. Small and mid-sized companies don’t usually have access to the expertise of a full human resources or accounting team,” said Jacobs. “For healthcare organizations, this expertise is critical, as more than revenue is at stake. An inefficient HR department, for example, not only wastes money at your facility, but patient satisfaction, surgeon satisfaction, employee satisfaction and the reputation of the entire organization takes a hit.”

Stop by Booth 54, and we can discuss how to cut unnecessary costs from your surgery center’s HR department.

Want to learn more ways to save? Click here to download the MedHQ white paper, “10 Ways Surgery Centers are Wasting Money in Human Resources.”

To Save Money, Cut Back On Annual Health Plan Increases

Shrinking reimbursements and increasing competition for patient volume have taken a toll on ambulatory surgery center (ASC) revenue, and proactive centers are responding by investigating ways to save money. But most centers are missing one of the top three largest line items, along with building rent and medical supplies, that can keep costs in line: human resources (HR).

To remedy this, MedHQ has worked with over 70 healthcare facility partners to find additional savings that also deliver the benefits of improving employee satisfaction and reducing risk. Through the process, MedHQ gleaned key findings that guided the creation of the MedHQ 10-Point HR Audit (10-Point HR Audit). The 10-Point HR Audit identifies inefficiencies that, when addressed, can result in six-figure savings for a healthcare facility.

“We were very surprised to find out how much money we could save. MedHQ identified nearly $100,000 that we could re-capture and put to work in other parts of our business,” said Scott Glaser, M.D., Pain Specialists of Greater Chicago.

In one simple example of our 10-Point HR Audit we assess the employee health plan. The employer share of the health plan typically costs $80,000 – $200,000 per year. On top of that, employees contribute another $25,000 – $50,000 annually.

Surgery centers can save money on health plans in two ways:

  1. The first opportunity is to limit annual increases to 2-4% a year rather than the 10-20% found at many surgery centers. This saves the employer up to $36,000 annually, and also provides significant savings for employees – up to $11,000 a year. Are you facing a big increase from your health insurance carrier? Have you explored all of the strategies available to mitigate these increase while keeping a plan that is attractive to employees?
  2. Another opportunity is properly adjudicating the monthly insurance bill. Instituting tracking to ensure employees who leave are removed from coverage at the appropriate time can result in savings totaling $8,000 – $20,000 a year.

Organizations who research, negotiate and purchase a plan on their own have recently been subject to significant increases due to Patient Protection and Affordable Care Act coverage mandates. Participation in a large group or alternative ERISA-based plans gives employers access to optimal plans, plus they have the ability to gain credit for promoting wellness and mitigating health risk.

Want to learn more ways to save? Click here to download the MedHQ white paper, “10 Ways Surgery Centers are Wasting Money in Human Resources.”

About the MedHQ 10-Point HR Audit
It takes approximately one or two hours for back office staff to gather the information necessary for the 10-Point HR audit. Typical savings = six figures. Request your risk-free 10-Point HR Audit today. If MedHQ fails to identify $25,000 in savings, the audit is free.