CASE STUDY: 

(Private) Healthcare Services Company,

Columbus, Ohio (with 5 Sub-entities)

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PRIVATE REFERRAL:

A mutual contact on a non-profit board referred the owner of (Private) Health to STL to explore the benefits of our Profitability Coaching services.  We met briefly on a zoom introduction, did our prescreen for fit, and then scheduled our special team for this endeavor for meeting 2, where the COO who handled payroll would be available.

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BUSINESS STRUCTURE:

With 4 entities under the umbrella of (Private) Health, there was 4 times the work for coordinating staggered payrolls, from acquisition businesses, already on a cadence of payroll that we didn't want to disrupt for the transition.  Coordinating savings pro-formas, Master Service Agreements, and the process of onboarding for each entity, was a process that we walked out together, one step at a time, with support specialists brought in for unique needs at appropriate times. 

 

PROJECT MANAGEMENT:

Case manager, Stuart Long of STL Professional Services coached and coordinated all parties through implementation and onboarding and attended all meetings to fill any gaps between parties at each stage.  Fortunately the COO handling the payroll data extraction biweekly, had a 15+ year history in the payroll industry and was a key employee in coordinating the staggered multiple payrolls, that ran on different cycles. 

 

UNIQUE CAVEATS

We always suggest a bonus for this key employee who will drive the actuated savings for your company, and that's why they are brought in after the PreScreen Meeting with the owner has been completed, coaching agreement has been signed and retainer is taken care of.  This key employee is often assinged to handle everything going forward, and the extra work, so be prepared to offer them an appropriate bonus or benefit, in the form of cash bonus, or ask us to setup a key-man policy bonus premium financed account to, 'keep good help' from being recruited away from you.  AKA; "Golden Handcuffs".

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IDEAS

While working together, STL suggested making payroll uploads for all entities on the same day in the beginning of the month, and the same for the latter, which (Private) Health considered, implemented, and we found it made the cadence much more simple going forward.

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SAVINGS

(Private) Health onboarded about 160 employees, many who were only working part-time.  Only employees working full time, with at least 30 hours per week.  Of the ones who qualified, about $2600/year will flow into the employee paycheck, to be used how the employees sees fit.  We suggest encouraging the employee to commit to put the extra $100/week into their 401k, but many employees really need the extra money these days for life expenses like gasoline and grocery price increases we are experiencing here in 2025.

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FICA tax savings of about $800 per employee have begun, and here a their 3 month mark, they are saving about $5000/month on FICA as a net  cash savings, on track for $60000 annually.  

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Of these 160 employees, about 60 to 80 per week hit full time, allowing $6000 to $8000 of extra pay to hit employee checks, for about another $72,000 to $96,000 annually in Payroll Efficiency.

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We have found a good cadence for coordinating profit sharing and invoice exchanges for monthly true ups.