Evaluating Financial Implications and Benefits of Interim Healthcare Executives

How to Evaluate the Financial Implications and Benefits of Hiring an Interim Healthcare Executive?

by

Hugo Aguas, MPA, Director of Interim Services and Kate Fenner, PhD, RN, Managing Director and CEO of Compass Clinical Consulting discuss ways to evaluate the financial implications of hiring an Interim Healthcare Leader in the final article of a series about interim healthcare leaders, published in Becker’s Hospital Review.

Interim Healthcare Executives, Directors and Managers

Hiring the right interim healthcare leader is the most important step in ensuring the success of an interim engagement. But, how do you choose the right person? Moreover, how do you evaluate the financial implications and benefits?

First: Understand the Interim Leader Applicant Pool

Some people mistakenly assume leaders are retreads, burnouts, or individuals who have been fired and are looking for a temporary job while they actively look for a permanent situation. Although there are people like that in the market, there are far greater numbers of suitable candidates.

What Makes a Good Interim Leader Candidate?

Typically, superb candidates for interim healthcare leadership positions are long-tenured executives, directors, or managers who may be close to retirement or want to make a change in their professional career path.

• Highly qualified interims are not ready to retire—they want to continue to contribute to the field.

• Some only want to work on a few assignments each year.

• Others are empty-nesters and have wanderlust.

• Some do not want to relocate, and others do.

• Some feel stale and want some variety.

• Others are interested in an interim position as a way to explore the possibility of a permanent fit in an organization.

In other words, there are a number of compelling reasons that good people are drawn to this career option.

Read the complete article, “Evaluating the financial implications and benefits of hiring an interim healthcare leader,on Becker’s Hospital Review.

Additional articles in this series on Interim Healthcare Leaders on Becker’s include:

Part 1: How to handle your healthcare staffing crises and challenges?

Part 2: Why use interim healthcare leaders?

Part 3: Is an interim healthcare leader right for your organization?

Part 4: Interim healthcare leaders: More than a placeholder

Part 5: Three critical steps to successfully onboard interim leaders

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