Hospitals gain many benefits by outsourcing perfusion staffing and management services but it's important to know some common pitfalls before signing any contract. These days, the economic and health care regulatory environments present little room for costly mistakes. Knowing potential areas for risk may help hospitals find confidence in their decision to outsource.
1) Costs. Is there REALLY a savings in outsourcing? Usually. Outsourcing could be bad news if a hospital chooses a company that is unstable, goes out of business, or fails to perform. Ralph Jordan, CEO & President of Trident Health Resources, Inc. reports that if a hospital selects a reputable company, the cost savings may be tremendous. Many of his hospital accounts have reduced their profitability loss risk and gained up to $75,000 annually by contracting. The savings is a function of how a hospital previously managed staffing, management, supplies, and administrative costs; however, it is also because a company such as Trident has the experience and expertise to operate on a system of efficiencies which developed over a 22 year period that the company has been in business.
2) Staff Qualifications & Licensing. Vetting healthcare professionals and ensuring perfusionists are duly certified, licensed and experienced is the job of the outsourcing firm. Hospitals should select an outsourcing company that stands on firm footing having a reputation of high quality care and good people. Perfusionists should be insured and adequately backed by the contracting company. Trident Health Resources, Inc. utilizes employees (not independent contractors) because it invests in its people as its greatest resource.
3) Liability. Hospitals should review contracts carefully regarding indemnity, terms of insurance, and coverage. Trident Health Resources, Inc. provides all its client hospital accounts a certificate of coverage. Exceptional levels of coverage are provided at or above industry standards.
4) Contract Commitment & Termination. A good outsourcing contract protects both sides. Outsourcing contracts are for a term, usually a year. Hospitals should consider what the termination conditions are (right to terminate if dissatisfied, for example), performance standards, and any other terms of commitment and renewal.
5) Company Reliability. What if a company goes out of business, merges, changes? Hedge this off by thoroughly researching the company with which you contract. How long have they been in business? Ask for letters of recommendation from other hospitals.
If you are considering outsourcing perfusion staffing and management services, contact Trident Health Resources, Inc. for a no-obligation comparable analysis. It's confidential and quick. Visit www.tridenthealth.com and click on "Comparable Analysis" Today!
