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How to Find the Best Talent in The Healthcare Industry

Competition for administrative and executive skills in the healthcare industry has never been higher. Before the COVID-19 pandemic, health systems were already struggling with a lack of qualified personnel, a high turnover rate, and an epidemic of provider burnout. However, the Association of American Medical Colleges estimates that medical facilities will need 139,000 doctors to fill vacancies caused by attrition between now and 2033

Vineesh Manchanda, Vice President of SCALE Healthcare, knows his organization can stand in the gap and offer a solution to this growing problem. He and his team share the strategies that enable healthcare organizations to meet today’s increasing competition, explore innovative recruiting approaches, and attract qualified staff.

 

Why healthcare organizations need a strategy to develop their talent pool 

According to Manchanda, healthcare organizations must develop a talent pool that can offer them a diverse range of qualifications. To be successful, these organizations need staff with administrative expertise, a patient-centered mindset, strong communication skills, adaptability, and a commitment to lifelong learning. 

On the management side of healthcare, medical facilities require a talent pool that possesses a deep understanding of healthcare systems, regulatory landscapes, and industry trends. These organizations need leaders with strong analytical abilities, strategic thinking, adaptability, and effective communication skills. Individuals who can drive transformative change and deliver innovative solutions to address the complex challenges of the industry are in high demand by healthcare firms.

Healthcare employers must be strategic and proactive as they attempt to attract top talent in an increasingly competitive job market. When developing recruitment and selection strategies, every hiring decision should prioritize the delivery of high-quality patient care while also fostering a diverse workforce that reflects the community being served. These principles form the foundation of a strong healthcare team that will be capable of addressing the complex and evolving needs of the industry.

“As you form your recruitment strategy, take into account your immediate and long-term workforce requirements,” advises Manchanda. “When you determine your recruitment strategy, task your marketing group with crafting messages that highlight your organization’s distinct values and work culture. These values should touch on a culture that prioritizes providing competitive compensation, opportunity for professional development, work/life balance, and technological resources.”

 

Attract top healthcare talent with competitive compensation and opportunities for advancement

The first pillar of any recruitment strategy needs to be a competitive compensation plan. According to a recent study by Jackson Physician Research, pay is the single most important factor in retaining medical professionals, which is understandable, considering that 73% of medical graduates are in debt and that the average graduate owes $250,995 in student loans. Financial incentives for physicians, such as bonuses and student loan repayment schemes, are appealing perks in the current job.

To attract and retain top talent, healthcare employers must also invest in professional development and ongoing education. This includes offering opportunities for advanced training, certifications, and access to cutting-edge technologies. 

“When healthcare employers prioritize lifelong learning and career growth, they not only empower their workforce, but also demonstrate a commitment to excellence that is crucial in our ever-changing healthcare landscape,” Manchanda explains. “Your employees want to see a clear path to advancement, so give them a chance to expand their skills and professional responsibilities. By equipping providers to advance in their careers, healthcare facilities are better able to retain and recruit the providers they need.”

 

Attract and retain healthcare talent with a culture promoting work/life balance and innovation

Today’s healthcare organizations need to promote a culture with a healthy work-life balance. With almost half of today’s medical providers reporting burnout, hospitals can retain their best administrative staff by building a culture designed to combat this statistic. Health and wellness programs such as complimentary gym memberships, dietary counseling, and mental health services are perks that can set your hospital apart and boost employee engagement.

Finally, healthcare organizations need to invest in the technology their employees want and need. For example, a recent survey finds that 79% of millennial physicians prefer keeping electronic medical records over paper systems when documenting patient care. 

Telemedicine and remote monitoring are two other examples of a wave of new technologies that hit the medical industry since the pandemic. These innovations are not just flashy — they allow physicians the freedom to devote more time to individual patients. Advertising cutting-edge technology can set a healthcare practice apart from the competition and make it more appealing to the best and brightest executive minds.

“In this highly competitive medical job market, SCALE Healthcare partners with healthcare clients to offer real-world insight into every aspect of healthcare recruiting,” Manchanda concludes. “We give medical professionals the solutions and cutting-edge healthcare delivery platforms they need to expand. Our team of over 120 advisors operators throughout 10 US cities and can quickly provide you insight on attracting, retaining, and engaging the talent your organization needs to thrive in this evolving healthcare industry.

SCALE Healthcare is on its annual Inc. 5000 list

Inc. magazine today revealed that SCALE Healthcare is on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies.

NEW YORK – August 15, 2023 – Inc. magazine today revealed that SCALE Healthcare is No. 664 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

“Being named on the Inc 5000 list is a testament to the relentless dedication of the SCALE Healthcare team. Our journey is defined by innovation, unwavering commitment, and the pursuit of excellence in healthcare solutions.” said Roy Bejarano, Co-founder and CEO of SCALE Healthcare. “This achievement not only honors our past accomplishments but propels us into a future where we continue to redefine healthcare.”

Not only have the companies on the 2023 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

The companies that are selected to the Inc. 5000 list come from nearly every realm of business, showcasing the reach and prestige that is associated with being ranked as one of the fastest-growing private companies in America. From health and software to media and hospitality, the 2023 list contains businesses and leaders that continue to change the world.

The annual Inc. 5000 event honoring the companies on the list will be held from October 31 to November 2, 2023 in San Antonio, Texas. As always, speakers will include some of the greatest innovators and business leaders of our generation.

About SCALE Healthcare

SCALE Healthcare provides the broadest and deepest range of consulting solutions available to healthcare management teams today based on their fundamental belief that narrow and/or purely theoretical solutions can’t solve multidisciplinary challenges.

Credits: https://www.abnewswire.com/pressreleases/scale-healthcare-ranks-no-664-on-the-2023-inc-5000-list_663591.html

Bloomberg News

SEC Cybersecurity Rule Increases Costs, Risks for Health Care

The Securities and Exchange Commission’s rule requiring publicly traded companies to quickly disclose cybersecurity breaches will pose unique risks for the health-care sector, data privacy and cybersecurity attorneys say.

“The health-care industry is going to be held to a higher standard,” said Bess Hinson, a privacy and cybersecurity attorney for Holland & Knight in Atlanta. “Given the nature of the data that they hold about patients—how sensitive it is and also the fact that the disruption to their business or operations—is literally life-threatening.”

The SEC’s requirement to report breaches within four business days means higher costs for health-care companies for cybersecurity training and management. Complying with the rule will also mean that companies won’t always have time to halt breaches before having to report them, potentially giving hackers the upper hand. The rule (RIN: 3235-AM89) reflects the agency’s belief that cybersecurity incidents have increased in size and severity and that its oversight will inform investors of incidents and mitigate their losses.

However, poor care at health-care facilities crippled by ransomware attacks will trigger lawsuits from patients and other stakeholders, attorneys say. The SEC’s requirements to disclose cybersecurity attacks—which sometimes companies aren’t aware of immediately—will be difficult for some health-care facilities to meet, the attorneys say.

“Even the most technically sophisticated information security team will find it difficult to collect sufficient evidence to provide definitive notice of cybersecurity events in only four days,” said Meghan O’Connor, Mark Bina, and Rachel Weiss, attorneys at Quarles & Brady LLP, in a statement about ways businesses can prepare for the SEC rule.

A Major, Vulnerable Target

Ransomware attackers often target health-care entities because of their “data rich environment,” Lancer Seaman, chief information officer for Recovery Centers of America, said. Seaman, who works with dozens of hospitals, said most medical practices don’t have the resources on staff to handle advanced data protection, let alone know when a cybersecurity attack has occurred. Seaman is also the executive partner, IT Systems & Enterprise Analytics, for SCALE Healthcare.

“Most breaches technically go unnoticed for a significantly long period of time, even months, where hackers will get in, they’ll infiltrate the system,” Seaman said. “They’ll be in and about your system for several months, waiting for an opportune time.”

The Department of Health and Human Services earlier this year declared that hacking now accounts for 80% of large data breaches. This year has also seen a major health-care data breach that resulted in nearly a dozen class actions. A 2022 report from the FBI found that the health-care sector reported the most ransomware attacks out of the 16 critical infrastructure sectors surveyed.

Hackers can take control of technology and shut down systems, which can affect daily services like performing surgeries, dispensing drugs, and accessing medical records.

Prospect Medical Holdings, a medical system that operates 16 hospitals and over 165 clinics and outpatient centers in Connecticut, Pennsylvania, Rhode Island and Southern California, was a victim of a cybersecurity attack Aug. 4, which caused emergency rooms to shut down. Some facilities have closed until further notice.

The rule, which also applies to publicly traded third-party vendors used by hospitals, such as those providing data storage, staffing solutions, laboratories, and pharmaceuticals, is an “additional burden during the rush of an incident response,” said Dianne Bourque, an attorney at Mintz in Boston.

“When you’re in the throes of responding to a cyber incident, there are so many moving parts in so many different flanks that you have to cover in a short amount of time because clocks are ticking,” Bourque said.

Building on HIPAA, State Laws

Health-care providers and associated covered entities who electronically transmit health information already must comply with the Health Insurance Portability and Accountability Act of 1996. The HHS issued the HIPAA Privacy Rule and the HIPAA Security Rule to implement the requirements of HIPAA to protect patients’ health information while allowing the flow of information needed to provide high-quality health care. Those federal measures have worked in concert with state laws for years, and now the SEC oversight is an additional responsibility.

“When you have an incident and you have to respond in accordance with HIPAA, you probably also have to respond in accordance with applicable state law, and there’s 50 different ones of those. And so now, here comes another requirement if you’re publicly traded that applies simultaneously,” Bourque said.

Most public companies will be required to comply with the incident disclosure requirements beginning on the later of Dec. 18, 2023, and 90 days after Aug. 4, which was when the rule was published in the the Federal Register.

“Public health-care companies will need to really ensure that their cybersecurity procedures and protocols are strengthened to reflect best in industry standards,” Hinson said. “They’re going to need to practice what would happen in the event of a material cybersecurity incident, including an incident that would create disruption to the administration of health care.”

Credits: https://news.bloomberglaw.com/health-law-and-business/sec-cybersecurity-rule-increases-costs-risks-for-health-care

What Are the Benefits of a Global Network of Healthcare Professionals?

Today’s healthcare industry faces a number of multidisciplinary challenges, and finding solutions to those challenges has often been the job of individual consultants or organizations who focused on one challenge at a time.

Today’s healthcare industry faces a number of multidisciplinary challenges, and finding solutions to those challenges has often been the job of individual consultants or organizations who focused on one challenge at a time. However, as evidenced by the rise of social media connections and global community networks, sometimes challenges can be better-met head-on with a collaborative effort. This is the idea behind the SCALE Community.

Roy Bejarano, co-founder and CEO of SCALE Healthcare, describes SCALE Community as “the first and only healthcare association that reaches out to all traditional healthcare industry constituents for group membership, participation, and knowledge sharing.” It is a truly collaborative effort that is disrupting the state of healthcare as we know it.

Sharing knowledge

One of the primary benefits of creating the SCALE Community is the open sharing of knowledge between all members. As Bejarano states on the SCALE Community membership website, “The ability to invite healthcare services leaders to coalesce within a single community that recognizes both the differences and the shared interests and benefits that can derive from collaboration across our respective groups is a unique privilege, and we are deeply committed to realizing that vision.”

The often vulcanized state of the current healthcare system can be ineffective. Clinicians are separated from decision-makers in the C-suites,  and progress grinds to a halt as a result. By bringing all these major players together — clinicians, executives, clinic managers, MSO managers, payors, and investors — progress is fast-tracked through a collaborative effort.

Through these community relationships, strengths and weaknesses can be examined, and solutions can subsequently be applied that play to the strengths and acknowledge the individual shortcomings. As independent entities, these weaknesses may have been insurmountable and stood in the way of delivering effective treatment to patients, but within the community is support, problem-solving, and shared knowledge to overcome obstacles.

The SCALE Community has gathered the best and brightest in the healthcare industry to share their expertise through webinars, podcasts, and educational papers — creating a “one-stop shop” for healthcare industry knowledge.

Necessary healthcare industry improvements

No one in the modern healthcare industry would describe it as “perfect” or something that requires no further improvements. Bejarano is confident that the necessary changes needed in the healthcare space can be facilitated through this community effort. “SCALE Healthcare is positioned to create a richer, safer, more impactful environment for us all,” he says. “SCALE Community is allowing us to strengthen our individual impact on our industry.”

The SCALE Community is founded by and managed by SCALE Healthcare, one of the top healthcare consulting, outsourced solutions, and investment companies in the United States. The experience of SCALE Healthcare allows them to give practical guidance and valuable resources to the Community as a whole.

Members of the SCALE Community enjoy several benefits for their participation, including discounts to valuable conferences which allow its members greater networking and educational opportunities. Members also enjoy access to informational webinars, podcasts, CEO leadership content, and industry predictions from those “in the know.”

SCALE Community members from all areas of the healthcare landscape can participate in advocacy for their individual spaces, allowing them to shape policy and decisions that move the needle towards a better healthcare industry overall. Participation in the community also gives members access to data sets and research, allowing multi-site SEOs, hospitals, or payors to make business decisions based on the most up-to-date information available.

One of the most beneficial aspects of the SCALE Community, however, is its ability to maximize networking for its members. By strengthening the bonds between individuals and organizations within the healthcare space, new ideas can be formed, partnerships can be developed, and change can occur that enhances the healthcare experience for everyone.

Diverse representation

The healthcare industry has become far more complicated in recent years. With the advent of telehealth capabilities, the growth of the insurance industry over the generations, and the need for better pharmaceuticals, there are now more players in the game than ever before. The SCALE Community is a diverse representation of the healthcare industry as a whole.

Constant innovations and technological changes in the industry can create gaps in service, management support, and organizational scaling. “Today’s healthcare environment involves a complex network of systems that require broad and deep solutions,” Bejarano explains. Those “broad and deep” solutions will likely not arrive through individual effort — not in a timely manner, anyway. The collaborative, community-driven effort of SCALE Community seeks to fill gaps within the complex network of healthcare systems.

Bejarano is thrilled with the initial response to the SCALE Community, which has already taken home a Stellar Business Award for Best Online Health Education Platform. “Within an industry where success is never a guarantee, SCALE aims to be the answer to providing the best possible service for physician leaders, management, and employees,” he says.

Through the comprehensive effort, Bejarano and the multidisciplinary members of the SCALE Community are changing the face of healthcare.

Credits: https://www.netnewsledger.com/2023/07/14/what-are-the-benefits-of-a-global-network-of-healthcare-professionals/

The Fin Tech Times

What Are the Biggest Compliance Challenges and How Are They Overcome?

Erika Jackson, compliance and risk specialist at SCALE Healthcare, a healthcare management consulting firm, explains this issue further. She said: “Lack of sufficient resources and allocation of funds for compliance are noted areas of strain that many companies are experiencing. This strain appears to be increasing in our current economic climate of uncertainty too. While compliance teams are in need of more resources, the funds simply aren’t available.

“The support of consultants, fractional compliance officers and utilisation of some of the free resources CMS, HHS and industry leaders offer can provide the needed support. All the while alleviating some of the strain and staying within budget constraints. This not only saves the cost of additional personnel, but it also provides access to industry experts. Experts who can address issues more appropriately and expeditiously, ultimately saving time and money.”

How Scale Community Is Creating The First Modern Network For All Healthcare Professionals

Today’s healthcare industry is still suffering from a material disconnect between the patients, care providers, as well as executives, and other leaders who help run the industry. As more and more corporate interests are becoming involved, we are seeing the healthcare industry re-examine and hopefully reaffirm its original intention: to serve the community. Thankfully, innovations like SCALE Healthcare’s SCALE Community are paving the way for a healthcare industry that expands on its community-focused roots, bringing all parties together to find optimal solutions that create opportunities for input and collaboration from many interested parties – how do we build a healthcare industry that benefits us all?

How SCALE Healthcare is Solving the Challenges of Modern-Day Healthcare Management

Modern healthcare management is a multifaceted undertaking and is constantly changing with the advent of new ideas and new technologies. To successfully navigate this landscape, healthcare organizations need to evaluate their financial, human resource, data management, and risk management processes and seek guidance on those processes.

SCALE Healthcare is stepping in to help healthcare organizations navigate the ever-evolving terrain of the healthcare landscape. Their expert guidance aims to elevate healthcare management across the board.

 

Looking for an engaged and innovative healthcare community?

Look no further than SCALE Community! Join peers from across the industry in a hub of activity, featuring everything from insights to webinars.

Plus – receive access to trend-setting news articles, consulting services, conferences and certifications as you become part of our ever-expanding universe. Our mission is simple: equip members with knowledge so they can shape the future healthcare landscape together!

SCALE Healthcare Receives Award for Best Online Health Education Platform

By: Stellar Business

The healthcare industry is a behemoth that encompasses elements of financial, technological, educational, and social considerations. Setting out to improve modern healthcare and help organizations modernize processes, scale, and educate is a lofty goal. It is a goal that New York-based SCALE Healthcare has taken on, setting out to help healthcare organizations stay up-to-date with modern technology, processes, and, especially, education resources. Their SCALE Education Platform has been lauded by Stellar Business as the Best Online Health Education Platform.

What Can the Healthcare Industry Do to Help with Educating Medical Personnel?

By: Roy Bejarano, Co-Founder and CEO of SCALE Healthcare

“Staying up-to-date on best practices can be overwhelming for medical professionals, regardless of their field or the responsibilities they have,” explained Roy Bejarano, CEO and co-founder of SCALE Healthcare. “To fill the gap, the healthcare industry needs to step in and partner with medical personnel in the area of education and training.”

“The healthcare industry is uniquely positioned to provide valuable educational resources to medical personnel,” Roy said. “Healthcare managers are as well-equipped as anyone to unearth, organize, and share practical lessons and tangible strategies with the potential to improve patient care.”

Learn about the closed transactions SCALE has contributed to.

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