Compensation & Benefits

Compensation and benefit expenses often absorb more than 50% of net patient revenue. As reimbursements decline, managing these costs and maximizing value is more critical than ever. The compensation and benefits consulting services provided by Novia Strategies goes beyond the traditional cost shifting approach. Our market-based and data-driven strategies ensure executive leadership has the necessary information to make crucial decisions regarding use of financial resources. We position organizations for long-term success through:

  • Aligning HR policies and programs to the organization’s overall strategic plan
  • Assessing application of pay practices as they relate to current and shifting employer dynamics
  • Developing workforce management solutions to meet the changing environment
  • Maximizing the value of health plan related expenses across the continuum of employee health services, including pre-hire screenings and maintenance, wellness and disease management programs, health plan and pharmaceutical design, and care of injured workers
Healthcare Staff – Novia Strategies Compensation & Benefits Management Consulting

 

Service Offerings

  • Premium Pay Reviews
  • Base Compensation and Paid Leave Program Design
  • Medical and Pharmacy Cost Reduction Strategies
  • Payroll and timekeeping Reviews
  • Wellness and Disease Management Design and Implementation
  • Worker’s Compensation and Employee Health Management Reviews
  • Vendor Search and Selection
Cost Outcomes

  • Significant reduction in the use of premium labor expenses
  • Implemented and realized savings typically ranging from 2-5% of the total labor expenses
  • Delivery of industry norm ROIs
  • Reduction in health plan expenses, beyond cost shifting to employees
Operational Outcomes

  • Compensation and leave management practices that match organizational needs
  • Improved clarity and equity of compensation programs
  • Improved health of employees
  • Increased employee satisfaction
  • Fiscal responsibility and stewardship of resources resulting increased sustainability as an employer and community health resource
  • Reduced lengths of absence and fewer unscheduled absences

 

Client Benefits

We work collaboratively with our clients to develop and implement strategies that result in:

  • Management of premium pay
  • Reduction of health plan expenses
  • Increased integration of employee health services
  • Vendor (agency, TPA, PBM, etc.) deliverables and pricing to match need
  • Reduced retirement plan costs
  • Integrated leave management programs
  • Alignment of practices, policies and payroll system parameters
  • Position control processes to support labor management

 

Practice Leads

Ready to take the next step? Contact our lead compensation and benefits consultants today.

Nancy Lakier RN, MBA - Novia Strategies CEO/Managing Principal

Nancy Lakier RN, MBA

CEO/Managing Principal
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Theresa Brandon, CPA, SPHR, SHRM-SCP – Novia Strategies Managing Director

Theresa Brandon CPA, SPHR

Managing Director
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