Medical Service Company invests in employees

‘Our greatest resources are our people; this is not an expense’
 - 
Friday, September 20, 2019

CLEVELAND – Medical Service Company plans to boost its starting pay to $15 an hour to recognize the role that employees have in its success.

The company, which provides respiratory products and services in six states, was already paying above the federal minimum wage of $7.25 per hour and the state minimum wage of $8.55 per hour in Ohio.

“We’ve always understood that there’s a lot that goes into each transaction in our business, and taking care of one patient is not as easy as taking a credit card and swiping it,” said Josh Marx, director of sleep and vice president of business development. “We’ve got to be able to pay higher wages. The job is harder and we demand more every single day.”

Of Medical Service Company’s 350 employees, the change will primarily impact those in customer service, intake, billing and delivery.

Boosting its starting pay ensures the company will be able to hire top performers, especially in a period of record low unemployment. That, in turn, will help the company grow, says Marx.

“We want to be able to bring on the best people across the country,” he said. “Attracting and retaining top performers is (critical) for operating our organization in this rapidly changing healthcare environment.”

Medical Service Company has found it makes financial sense to continually invest in its people, despite rampant cost cutting in the industry, says CFO Dana McLaughlin. It costs about 20% of the salary of any given employee to hire and train somebody new, she says.

“A big success factor is getting it right the first time,” she said. “Our greatest resources are our people; from a financial perspective, this is an investment not an expense.”

Along with competitive pay, Medical Service Company invests in employee recognition programs, leadership training and other benefits.

“Happy people are successful people,” McLaughlin said. “If people can take care of themselves, they are going to perform at a higher level overall. It makes me proud we can do this.”