Matching Expense Management Professionals and Hospitals - Strategic Initiatives in Healthcare Expands Efforts

Expense management in hospitals has become a critical issue throughout the country. According to Joe Colonna, President and CEO of Strategic Initiatives In Healthcare, LLC (SIH). Regardless of whether or not a hospital or network has a healthy bottom line, continuing inflation and rapidly intensifying pressure to reign-in healthcare expenses is forcing providers to rethink previous strategies.

Jackson, NJ July 16, 2004 -- Expense management in hospitals has become a critical issue throughout the country. According to Joe Colonna, President and CEO of Strategic Initiatives In Healthcare, LLC (SIH),"Regardless of whether or not a hospital or network has a healthy bottom line, continuing inflation and rapidly intensifying pressure to reign-in healthcare expenses is forcing providers to rethink previous strategies. Nearly every hospital in the U.S. has been subjected to reengineering or some form of a 'right-sizing' program. Today, hospitals are finally beginning to recognize the need to focus their attention on controlling and managing the 40% of budgets devoted to non-labor expenditures. While providers have tried various programs and campaigns in the past, these efforts were episodic and did not produce sustained efforts which would gain and maintain the momentum necessary to ensure financial viability in future environments."

In June of this year, SIH announced a unique service for matching the personal characteristics, skill set, education, and training of material resource management professionals to the expense management needs of providers. While the concept has many innovative features, according to Colonna, ensuring the match of the organization to the person is just as important as matching the person to the short term and long-range needs of the provider. He stated, "While no one can ensure an employee will not leave their position, our team of experts has a track record of identifying and matching the right expense management specialists to fit a variety of needs. Providers need consistency and process leadership to ensure ongoing optimal outcomes. Our concept is designed to provide the 'right', 'two-way' match."
   
To optimize its Resource Matching concept, according to Matthew Gyulay, Director of Business Development for the firm, on July 14, 2004 SIH announced the additions of two new, unique features; career counseling and outplacement services. Gyulay said, "While neither of these two processes is intended to generate sizable revenue, SIH believes they are an integral part of our commitment to meet the expense management needs of the healthcare industry." The career counseling process will assist professionals who may have left the hospital segment of the industry temporarily or people who have worked in hospitals as a Vice Presidents or Assistant Administrators in the past but were not necessarily involved directly with supply chain or materials management. Colonna commented, "there are many people who have the essential characteristics and skills to excel as an expense management professional. Our Resource Matching service may be an ideal way for them to use their abilities to produce truly meaningful results for our clients." The outplacement process, as explained by Matt Gyulay, will be valuable whenever hospitals merge or as networks of providers consolidate their operations.
   
To ensure clients of SIH receive the best advice available in healthcare, SIH has decided to utilize William McFaul, Chairman of The Center for Modeling Optimal Outcomes, LLC to personally oversee all aspects of these two enhancements. McFaul is arguably the most recognized expert in hospital expense reduction in the U.S.; having innovated many of the concepts and processes currently in use industry-wide. According to Colonna, "When Bill announced his intention to come out of retirement and to assist with the growth of SIH, I recognized his expertise as being a perfect fit for these valuable aspects of the Resource Matching concept. His commitment to personally assist these professionals will be invaluable to the advancement of their careers."

For more information on Resource Matching or any of SIH's services, contact e-mail protected from spam bots or call 1-877-717-7444.

# # #