Boost Your Healthcare Practice: Retention, Compliance, and Performance Strategies | ELEVATE Insights
Inspired by the dedication of Olympic athletes, we’re bringing you actionable strategies to elevate your healthcare practice. Today’s insights focus on retaining top talent, navigating evolving labor laws, fostering a high-performance culture, and ensuring workforce compliance.
In today’s edition:
- 🥇 Unlocking Success: The Vital Role of Retention in a Talent-Scarce Market
- 🧙♂️ Navigating the Future: Stay Ahead with the Latest Labour Law Update
- 🗣 Empowering Excellence: Mastering the Art of Performance Communication to Inspire Your Team
- 👩🏽⚕️ Know Your Workforce: Employee or Contractor? Navigating Risks and Compliance
- 🍷 Grapes and Grub
Enjoy the ride,
~Gary Thorne, Founder
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Key Takeaways for Healthcare Practice Owners:
- Talent Retention: Move beyond compensation. Build a positive culture and foster high performance to reduce team member attrition.
- Labor Law Compliance: Stay ahead of evolving legislation. Understand the implications of the Pay Transparency Act and ensure your practice is compliant.
- In 2023, the PayTransparency Act became law in BC. All employers must provide expected wage ranges with their job postings in effort to close the gender pay gap and address systemic discrimination.
- This has now been adopted as law in Prince Edward Island, Newfoundland and Labrador, and soon to be in Ontario. It won’t be long before this is adopted Canada wide. Read more to make sure you are up to date and in compliance, PayTransparency Act.
- Performance Communication: Drive a high-performance culture by focusing on client experience, access to services, and best practice care planning. Shift the focus away from just revenue and profit.
- Employee vs. Contractor: Properly classify your workforce to avoid legal issues, penalties, and back taxes. Understand the difference between independent contractors and employees.
Featured Resources
Pay Transparency Act
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Weekend Fun: Grapes and Grub
- 100 Points! BC Chardonnay, Old World Elegance
- Checkmate’s 2019 Little Pawn, Jagged Rock Chardonnay. We stumbled upon this winery 3 years ago and it quickly became our favourite Winery in Oliver, BC.
- Melon, peaches, citrus, green tea and sea salt.
- Pair it with our favourite Chef’s, Tieghan Gerardof Half Baked Harvest, Pesto Peach Chicken in White Wine with Burrata
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About ELEVATE Practice Intelligence:
ELEVATE empowers healthcare practice owners to maximize profitability and build personal wealth. We provide insights and strategies to improve cash flow management and practice valuation. Who is GT? – Gary Thorne, with 17 years of corporate healthcare experience,responsible for 60+ clinics, across multiple provinces, with a portfolio size >$125M. Ethos: good enough never is!
Connect with ELEVATE:
Learn more about ELEVATE Practice Intelligence and how we can help you achieve financial success.
Book a consultation to discuss your practice’s profit and cash flow management. Book Now.
