The Business Challenge
Anne Marie Balke, majority owner and managing director, applied her experience in medical business administration to this start-up business, working with Nagy Farag, M.D., medical director. Hiring an accountant and establishing a payroll process were immediate priorities. Getting good rates on workers’ compensation insurance and a health plan, as well as establishing a solid compliance plan were also critical. The big question was who would tackle which priorities, and how much of the ongoing administration would default into “do-it-yourself” mode. As a start-up business, staffing was limited, and business priorities needed to be centered on patient services, without sacrificing good, but affordable HR administration and best practices.
After discussion with FrankCrum, it became clear that priorities would include:
- Secure better workers’ compensation rates than would be possible on the open market.
- Select and implement a health insurance plan for employees.
- Gain access to FrankAdvice for HR, to initially include the creation of job descriptions and an employee handbook.
- Obtain Compliance Support, including workers’ compensation posters, compliance with training and certification required for a medical practice, and safety training from FrankCrum.
- Get payroll under control.
- FrankCrum does all of the important HR functions. MK Medical Center was able to move beyond do-it-yourself mode and reliance on an accountant for services like payroll.
- Business and staff levels are growing, and scaling the business is now easier.
- Compliance has been standardized. For example, the need for needle-stick training and certification was identified and addressed.
- A plan has been developed to maintain best practices in risk management, such as an employee handbook, posters and safety training from FrankCrum.
- HR, payroll and workers’ compensation functions are all under control, and managed by FrankCrum, allowing MK Medical Center staff to focus on patient care and growing the practice.