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After devoting more than 10,000 hours of research and development toward the creation of a unique approach for large and complex healthcare systems and networks to manage their non-labor expenses, Strategic Initiatives In Healthcare, LLC, an N.J.-based consulting firm, today announced that it will begin marketing its innovative expense management concepts effective November 1. According to Joe Colonna, the company's president and CEO, "More than 6,000 of SIH's research and development hours are attributable to founder Bill McFaul personally. Arguably the nation's leading expert in healthcare non-labor expense management, McFaul has assembled the SIH team to configure a platform of innovative solutions which will generate an ROI of up to 20-to-1 for systems and networks with non-labor expenditures in excess of $200 million." "During a short retirement following the acquisition of McFaul & Lyons Inc. to Johnson & Johnson in 1997, I had some time to reflect on the industry and its solutions to managing non-labor expenses," said McFaul. "I realized that the traditional methods utilized today were far from optimal. After conducting more research and conferring with industry experts, we decided to form SIH." Over the past eight months, the SIH concepts have been subjected to intense market research and review by system and network executives, consultants, materials management/supply chain leaders, and group-purchasing executives. According to Colonna, "This cross section of the industry viewed these concepts as providing outcomes for managing non-labor expenditures far beyond the approaches generally used by providers, and it does so without the necessity of outsourcing the materials management/supply chain position or changing group-purchasing organizations. "We felt our concepts had value," Colonna continued. "The overwhelmingly positive feedback we've received has reinforced our belief that the industry is ready for an alternative to traditional expense-reduction programs." Strategic Initiatives in Healthcare, LLC is a registered trademark in the United States and other countries. Strategic Initiatives In Healthcare AL, USA 1-877-717-7444 (phone) mgyulay@sihealthcare.com www.sihealthcare.com Tags: Consulting, Value, Analysis, Analyitcs, Expense, Management, Control, Healthcare, Hospital, Costs, McFaul, Colonna, SIH, Supply Chain, Materials Management    |
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