What type of searches do you handle?
In the last five years, Stratum has covered nearly every provider specialty or sub-specialty within healthcare as well as conducting a large amount of Advanced Practice Provider searches.What is a brief overview of a Stratum provider recruitment process?
Our search process is very extensive and it is important to mention that it can be altered to meet the needs of a client.
A Stratum search begins by interviewing a client regarding their new search details and completing a new search profile form. After approving a sourcing plan for the position, Stratum will move forward to implement sourcing recommendations. Stratum will only forward, pre-screened viable candidates for the open position and when forwarded, will include an extensive candidate summary.
If Client is interested in inviting candidate for on-site interview, Search Consultant will provide reference authorization form to candidate. Search Consultant will then compile all reference input and forwards onto Client for review.
Search Consultant will then continue to monitor/facilitate communications and progress between candidates and Shareholder with the goal of a successful placement.What sets Stratum’s recruitment team apart from others?
Stratum recruiters pay special attention to detail and, unlike other firms, Stratum will only present qualified, prescreened candidates who we believe will be a strong fit for your organization. Stratum’s Search Consultants are known for thinking outside the box when it comes to sourcing for a position and they will try alternative sourcing options when a new method is necessary. Our Search Consultants have great strengths in smaller market recruiting, relationship building, excellent communication skills and work to fill the needs of a client and are not assigned to a specific area or specialty.
Our recruiters are continuous applauded by not only our clients, but our actual recruits in our search process approach.
How are your fees handled?
Stratum is able to offer extremely competitive search fees for our services. After a reasonable initiation fee, a monthly fee is charged for each search. Discounts are offered for multiple searches within a particular search or specialty. Stratum is very upfront with any sourcing recommendations and once approved, only passes along actual sourcing costs to their clients.Who makes up your Provider Recruitment Team?
Stratum takes a team approach when it comes to a client’s recruitment needs. Our Search Consultants work very closely with our Sourcing Specialists to determine the best sourcing opportunities for each search. When the time is appropriate, our Reference Coordinator will conduct candidate verifications and reference calls. This information is then compiled and forwarded to our client.
Finally, our locum coverage is coordinated through our Locums Liaison.
Our Recruitment Team is managed by two Managing Directors.Do you coordinate needed Locum Tenens Coverage?
Stratum offers extensive Locum Tenens coverage to assist in their shareholder and clients’ needs. Stratum’s large volume allow us to negotiate favorable preferred rates with locum firms while keeping the clients’ budget in mind and only prescreened, qualified candidates are sent for clients’ review. Stratum communicates on the clients’ behalf and will assist client in the process from referencing through locum confirmation and credentialing process. In addition, Stratum works with the firm to arrange locum travel and housing arrangements.
Locum services are offered at no-cost to clients and a minimal cost to those who do not have a current retained Stratum search.
How does Stratum source their candidates?
Stratum is provider owned, which means they are not a head hunter firm, but a respected and trusted healthcare organization. Stratum is entrenched in the healthcare industry in a variety of capacities, is physician centric and has the ability to go beyond the active candidate pool by utilizing a strong network and grass roots to surface top talented passive individuals.Why should I choose Stratum for Executive Search services?
Stratum has an experienced team dedicated to executing high-level searches in partnering with healthcare organizations to effectively fill their critical leadership needs. Considered a boutique firm, Stratum has a unique, proven and reliable search process that has resulted in numerous successful leadership placements for hospitals and medical groups at the Executive, Vice President and Director levels.
Distinguishing advantages include:
Competitive fees – unmatched search retainers compared to industry averages
Customized search based upon the structure, needs, ideals and culture of your organization
Quality candidates who are thoroughly sourced, prescreened and referenced
Assistance with interview coordination, compensation and contract negotiationIs Stratum an affordable option?
Yes. Stratum’s Executive Search placement fee is nearly ten percent below market average. When you engage with Stratum, your payments will not go towards flashy national media campaigns or company executive’s shiny new cars in the parking lot. Stratum’s low operating overhead is extended to our shareholders and clients in a substantial market savings.
Plus, Stratum’s fee structure is based on a shared risk model. A minor initiation fee as well as modest monthly retainer fees means the majority of Stratum’s search fee is billed after a successful candidate has been placed.
How long does a typical executive search process take?
It really depends, each particular search is very different. Stratum’s Executive Search division has been built on the ability to hire for cultural fit and believe in not just finding a person to do the job, but the individual that will perform best in the environment. Due to the variance of difficulty in accomplishing this, Stratum tends to offer a range of 3-6 months.
What is Stratum’s strategy around insurance?
Stratum’s role is that of facilitator and aggregator bringing disparate, yet collaborative-minded healthcare organizations together to “group purchase” all lines of insurance through a preferred broker and through select carrier partners.What are the benefits of participating in Stratum’s insurance program?
My organization has unique coverage features which it likes in its current policy. Do we need to adhere to a “Stratum” endorsed policy to participate or take advantage of savings?
- Premium savings generally ranging from 5-30%
- Less volatility in pricing, even in times of negative claims experience because of pooling and enhanced, actuarial, predictive modeling
- Improved support through dedicated support teams provided by Stratum’s broker and preferred carrier network
- Networking opportunities with other organization’s HR and Risk Management Departments
- Access to insurance experts able to address all your questions and no additional charge
Although part of Stratum’s value is providing consultative feedback relative to industry trends and best practices, we realize that each organization will have distinctive needs and may wish to obtain coverage that’s unique compared to the “market”.
Is there a fee to participate in the program?
There is no access fee to participate in the program. Compensation generally comes in the form of commissions which will be transparent and disclosed. Occasionally participants will prefer to pay an engagement or a management fee in lieu of built in commissions.How do I learn more about participating?
The first step is a short 1-Hour interview to better understand your organization and its needs. From there a customized plan will be developed highlighting additional information we’ll need to gain access to in order demonstrate value to participating in Stratum’s program.
Why Stratum for Group Purchasing?
Stratum has over 15 years of experience in healthcare materials management and nationally is one of the largest purchasing cooperatives. Volume and collaborative efforts DOES make a difference. Stratum has a mature program and with over $84 million annual volume providing 8 to 20% savings for members.What makes Stratum’s materials management program unique?
The success of Stratum’s Materials Management Program has been based on the core concepts of:
What does Stratum bring to your Management Program?
- Long term GPO and Distributor relationship
- Leverage Stratum’s collective buying power with vendors.
- Aggregated Contracts
- Stratum’s Support Structure
- Integral partnership between Stratum Clinics, GPO and Distributor
- Collaborative efforts by Materials Managers
- Collective data analysis and benchmarks
- Proprietary Purchasing Analyses and Cost Savings Reports
The typical materials management program tries to singularly balance the Distributor and GPO relationship. Stratum’s Materials Management enhances your program through unique coordinated, collaborative efforts that provides value added services.