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 more than 20 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.