Laying the Foundation for Thriving Teams Through Salary and Benefits with Melissa Stedman

“It’s amazing the amount of money you can find when you look for it,” today’s guest says when speaking today about salary and benefits for staff and employees. This is a hot topic in the industry right now because it is an unfortunate truth that technicians and other staff members are underpaid for their responsibilities in a practice or hospital. So what can we do as leaders to change that?

 

Today’s guest is Melissa Stedman, a practice manager in the Philadelphia area and one of VHMA’s emerging leaders in 2019. She has experience in general practice, ER, privately owned, and corporately owned hospitals, so wherever you are, she has been there. What she has learned and continues to be passionate about is investing time and money into people. In today’s episode we talk about why and how we should pay more in salaries and benefits and how a mindset shift can change the industry. Melissa gives us practical ways to make this happen and where you may be able to find the money to do so by just making a few changes. It all starts with education, so let’s get started.

 

Show Notes:

[2:04] - How do we get people to love their job and stay? Melissa says that the stressful, high-pressure environment has a lot to do with it. 

[2:45] - The average technicians are in their late twenties and are not making ends meet. Certified techs also come with a lot of student loan debt they can’t pay back with their hourly rate.

[4:05] - Even leading in the market is not enough pay for the job. The reality is that technicians can’t pay their bills and it affects their performance and attitude.

[4:54] - Pharmaceutical companies are taking techs away from practices because they can offer better benefits and salaries.

[5:35] - Regarding health insurance, many hospitals say they cannot afford to pay for health insurance for their techs, but Melissa says that’s not true. Offering health insurance is crucial.

[6:59] - Melissa shares an online store is a great way to make a little extra money to be able to pay your techs more. It isn’t a ton, but it's more than you’re making without it.

[7:40] - Wellness blood work is another money maker that Melissa recommends to find more money that increases salaries.

[8:27] - If techs know that wellness blood work can make more money for the practice and therefore for themselves as well, they will offer it and educate clients more effectively.

[9:41] - People are the biggest priority. Melissa gives examples of how she runs training and education in her practice.

[10:38] - You don’t have time or money for the turn-over and replacing someone if you don’t take the time to train appropriately upfront.

[12:09] - Debbie points out the stress level on management and the rest of the team when someone leaves. It is very demotivating.

[12:57] - Doing one on one meetings with everyone gives a leader an idea of what each employee needs and wants. Melissa admits that she is very transparent and takes the time to develop a relationship with staff.

[15:23] - When faced with a solution that seems difficult to implement, Melissa explains that many practices will give up and say they can’t do that. But something has to change in order to keep people on staff.

[16:48] - If our people are happier, our clients will be happier. Melissa shares results from a survey in which clients told her that her staff seemed so happy and it made a difference on where they chose to come for business.

[17:43] - It is so important that staff look forward to coming to work everyday and not worry about their bills. It is not okay to pile on responsibilities in this field with little pay.

[19:32] - Debbie shares some realities her staff faces in paying a toll on the road on the way to work. This is something to consider when determining pay.

[20:48] - Melissa and Debbie agree that we can do better in this area as an industry.

[23:10] - “Sales hide a multitude of sins.” This is something Melissa says and explains when looking at budgets to determine how much you can afford to pay.

[25:09] - You need to pay people enough to care about your practice.

[25:40] - Melissa says we need to change the mindset from not being able to afford to pay people their worth and think of it more as an investment. You will see a return.

Thank you for listening. Remember you are not in this alone. Visit our website for more resources.

 

Links and Resources:

 

VHMA Web Page

 

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