Announces partnerships in California and Illinois with multiple independent practices and a widespread physician network
SAN FRANCISCO, CA, UNITED STATES, June 10, 2024 /EINPresswire.com/ — Stitch Employment Services Inc, an innovative practice workforce solution built for independent medical practices, announces their launch today. Built at Redesign Health, Stitch offers a seamless solution designed to improve recruiting, hiring, onboarding, and other essential HR functions — enabling practices to attract and retain the best talent possible.
Independent medical practices face a myriad of challenges today, with declining healthcare reimbursements and widespread staffing challenges.[1] Small and medium-sized practices face unique challenges in sourcing qualified employees, training and certifying employees, and providing benefits that help staff feel supported by their employer. While these practices want to continue operating independently, the task of managing staff, providing benefits, and maintaining compliance becomes increasingly formidable.
The company launches with multiple partners, including Independent Physicians and Providers of Illinois, Inc (IPPI), a network of over 120 independent practices with over 1,000 employees where Stitch serves as the exclusive employee benefits option. Additionally, Stitch is working with Dermatology Specialists of Illinois, a Chicago-based independent practice with 43 staff members, and Regency Palms Oxnard, a Senior Living Community with over 50 employees.
“We founded Stitch not just to support practices managing their workforce but also to support them in fostering an adaptable and thriving work environment,” said Rajesh Voddiraju, Founder and CEO of Stitch. “Independent medical practices, which are vital to our healthcare system, must navigate extensive complex and ever-changing human resources challenges. Our mission is to strengthen and empower the teams within them to deliver the best care to their communities.”
Stitch eases the HR administrative workload for partners, enabling them to prioritize patient care and reduce overhead costs while supporting employee well-being and empowering teams to more effectively deliver high-quality care. Stitch’s state-of-the-art tools and comprehensive suite of services are uniquely tailored to meet the needs of independent medical practices. Leveraging a co-employment model, Stitch pools employees together so practices can access specialized HR functions at an efficient price.
“We are pleased to partner with Stitch as the employee benefits option for the IPPI network. They understand the unique challenges we face running an independent medical practice and have tailored their offerings to meet our needs,” said Samuel Girgis, MD, FACS and IPPI Board Member. “In the evolving landscape of healthcare, we are enthusiastic to have Stitch PEO as a partner, offering independent doctors and providers a welcomed option for cost savings and practice management streamlining.”
Stitch combines an industry-leading technology platform with deep expertise in healthcare to provide practices with a comprehensive practice workforce solution. Stitch’s offering includes:
– HR, Payroll & Workers Compensation – Stitch lowers HR costs by consolidating staffing needs through a rich and tightly integrated set of services. Stitch oversees HR policy, providing healthcare-specific guidance and consultation, implementing and running regular payroll, and procuring and managing workers compensation plans.
– Benefits – Stitch utilizes a co-employment model to craft best-in-class benefits packages, including health, dental and vision benefits. Stitch manages open enrollment, implementation and year-round administration.
– Hiring – Stitch is experienced with the specific clinical job functions of a medical practice and supports the sourcing and hiring process from start to finish — providing guidance on job descriptions, job listings and the appropriate salaries. Stitch’s approach improves talent acquisition and retention by 10-14%.[2]
– Onboarding – Stitch offers specialized resources for employee onboarding in healthcare, covering topics such as ‘healthcare 101,’ electronic medical records (EMR), HIPAA, OSHA, and more.
– Training & Compliance – Stitch takes a proactive and informed approach to ensure practice compliance, guiding practices through the complexities of healthcare regulations. This includes providing training and guidance on continuous education, robust policy implementation, and fostering a culture of accountability.
– Custom Growth Support – Stitch works with each practice to evaluate their distinct needs, growth plans, staffing capacity, benefits and where they can reduce costs. Stitch packages the right solutions to support them in controlling costs, increasing profitability and growing their business.
By reducing administrative burden, simplifying layers of practice management complexities and streamlining HR processes, Stitch optimizes costs, empowers employees and enables independent medical practices to thrive.
Stitch launches with $8.75 million in seed funding. To learn more about Stitch and opportunities to work together, visit stitchpeo.com.
About Stitch PEO
Stitch is the first PEO of its kind, dedicated to banding independent healthcare groups together to achieve greater economies of scale and a network of thriving practices. As a healthcare-focused workforce solution with state-of-the-art tools, a comprehensive suite of services, and a co-employment model, Stitch supports human resources administration, top-tier employee benefits and benefits administration, compliance adherence, and employee engagement, leading to happier employees and happier patients. Through Stitch, healthcare groups directly combat staffing shortages, administrative overhead, unobtainable benefit packages, and controlling costs, transforming employee management in healthcare and empowering practices and providers to refocus on their patients and communities. For more information, visit https://stitchpeo.com/.
About Redesign Health
Redesign Health is an innovation platform serving healthcare founders, investors, and industry partners. We provide the tools, capital, people, and technology to develop scalable business models and bring them to market faster than ever before. Our platform offers access to each step of our proprietary company-building process and a rich ecosystem of healthcare experts, research capabilities, and technical infrastructure. Since 2018, we have built over 60 companies from the ground up, reached more than 15M people across the care continuum, and partnered with dozens of leading organizations to accelerate healthcare innovation. For more information, visit https://www.redesignhealth.com/.
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[1] https://www.ama-assn.org/system/files/mathematica-ama-white-paper.pdf
[2] https://www.napeo.org/docs/default-source/white-papers/whitepaper2keyfindings.pdf?sfvrsn=4
Rachel Magnin
Redesign Health
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