Healthcare Cost Crisis - Focus of New Consulting Company

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When it comes to showing healthcare facilities how to control and manage their expenses, the brand names and faces in the caravan of consulting firms have come and gone, leaving a trail of mixed results and often-unsatisfied expectations. Until now. Strategic Initiatives In Healthcare, LLC, a new multifaceted healthcare consulting company, debuts with a host of highly innovative concepts developed to address the growing interest of healthcare chief executive officers, financial and operational executives in expense control and management.

When it comes to showing healthcare facilities how to control and manage their expenses, the brand names and faces in the caravan of consulting firms have come and gone, leaving a trail of mixed results and often-unsatisfied expectations.

Until now.

Strategic Initiatives In Healthcare, LLC, a new multifaceted healthcare consulting company, debuts with a host of highly innovative concepts developed to address the growing interest of healthcare chief executive officers, financial and operational executives in expense control and management.

Staffed by some of the most seasoned veterans and leading experts in the field of healthcare operations, Strategic Initiatives in Healthcare, LLC will focus on the “big picture” of ongoing processes for expense control and management in an environment of lower payer reimbursement, tighter regulatory scrutiny and growing competition from a variety of market players. These environmental factors continue to drain top-line revenue generation opportunities by healthcare providers, causing them to increasingly focus on bottom-line savings.

“We view the need for ongoing expense control and management processes as a strategic imperative for all of healthcare, not just cash-strapped healthcare facilities and definitively not as one-time or episodic initiatives. Today, even if a provider organization is fiscally sound, they must strive to further reduce and control expenses in order to create the reserves necessary to carry them through the inevitable downturn in reimbursement” said Joe Colonna, president and CEO of Strategic Initiatives In Healthcare, LLC. “That’s why our company is not focused merely on such topics as materials management, supply chain, group purchasing, non-salary expense reduction and cost containment as individual programs or projects. While these traditional areas will be included in our focus, they represent only a portion of our overall, more comprehensive process improvement strategy.”

“Our signature of success will be the introduction of innovative concepts which focus on ongoing positive outcomes for our clients while generating a sizeable ROI,” Colonna said. “The expense stream of healthcare facilities should have been fixed 100 times over based on the volume of ideas shared within the industry during the last decade. The industry doesn’t lack ideas. The industry lacks the availability of experts to ensure implementation and maintain the processes. We’re going to change that.”

Colonna most recently hails from NCI, a Palm Harbor, FL-based firm which is the nation’s leading healthcare firm specializing in knowledge transfer, business transformation and performance optimization where he was the Senior Vice President. Prior to that position, he was Vice President of Shared Services Healthcare in Atlanta, GA. Mr. Colonna also worked for many years in healthcare materials management.

Headquartered in Jackson, NJ, Strategic Initiatives In Healthcare, LLC, was conceived by William McFaul.

Mr. McFaul co-founded McFaul & Lyons Inc., the largest consulting firm in the world specializing in the identification and implementation of non-labor expense reductions for hospitals and healthcare systems. Bill sold to Johnson & Johnson in 1997. Mr. McFaul has conducted over 150 local, state-wide, and national educational programs, and published over 100 articles in major healthcare journals. He received the Lifetime Achievement Award from the Health Industry Group Purchasing Association and received Resource/Materials Manager of the Year awards by both professional societies. In 2003, he was recognized as one of healthcare’s leading innovators for expense control/supply chain management.

Bill’s innovations include: the healthcare application of value analysis, outsourcing/contract management of hospital materials management, creation of the clinical value analysis facilitator position, creating awareness by integrated delivery networks of how to maximize expense management through the concept of resource utilization (McFaul coined the term Chief Resource Officer), and the concept of statistical analysis for consumption and utilization of products and services (a tool responsible for approximately $400,000,000 in client savings). He developed strategic plans for seven shared services and group purchasing organizations; and co-founded the Mid-Atlantic Group Network (MAGNET), the largest healthcare group purchaser of capital equipment.

Strategic Initiatives in Healthcare, LLC is a registered trademark in the United States and other countries. Strategic Initiatives In Healthcare, LLC offers operational modeling and mentoring for bottom-line and top-line success.

Contact:

Strategic Initiatives in Healthcare, LLC

Matthew Gyulay, Public Relations Representative

mgyulay@sihealthcare.com

http://www.sihealthcare.com

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Matt Gyulay
SIH
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