HOLLYWOOD, Fla., October 11, 2023 (Newswire.com) - Point-of-Care Partners (POCP), a prominent leader in Health IT, is thrilled to announce a momentous milestone in its two-decade history. In an exciting development, POCP has transitioned beneficial ownership to its dedicated employees through an Employee Stock Ownership Plan (ESOP).
This landmark transition underscores POCP's unwavering commitment to its workforce and recognizes the pivotal role its employees play in the company's success. CEO, Founder, and Managing Partner Tony Schueth remarked, "POCP has always been about its people, and establishing an ESOP is a way to honor employees for their stellar work and empower and reward them through shared equity for striving towards an even higher goal which is our shared devotion and passion toward transforming healthcare through advancing technology.” He added, “Keeping leadership and the overall team structure intact through this transition is exceptionally important. As we continue to grow, we also hope this structure will help attract new employees who share our mission and want to work as a team to overcome the barriers we face in healthcare." Tony will remain as the CEO and serve as chairman of the company’s board of directors.
According to The ESOP Association, while an ESOP is a retirement plan, it’s so much more than that. Through the ESOP, employees acquire shares in the company, thus becoming stakeholders in its future success. This ownership structure fosters a sense of engagement, loyalty, and shared responsibility among employees, driving the organization forward.
The ESOP Association reports that companies with ESOPs tend to experience higher levels of employee engagement, leading to increased productivity and innovation. Moreover, employees of ESOP companies often realize higher total compensation and accumulate greater savings compared to their counterparts in non-ESOP organizations.
While the transition to the ESOP is a huge advancement for POCP employees, POCP believes that clients who are already accustomed to a high level of service, expertise, and critically important insights from its work will also benefit. According to the ESOP Association, there is less turnover in companies beneficially owned by employees, and such employees tend to be more engaged and committed, delivering service at a higher level.
This transition to an ESOP marks an exciting chapter in POCP's journey, one that underscores its commitment to its employees and its mission of advancing healthcare through innovative technology solutions. While the senior leadership structure and employee-centric management approach remain the same, the ESOP allows POCP to dial up employee engagement and continue its legacy of excellence in Health IT while empowering its workforce to shape a brighter future for the healthcare industry.
About Point-of-Care Partners
Point-of-Care Partners (POCP) is a leading health IT management consulting firm assisting healthcare organizations across the healthcare ecosystem in the evaluation, development & implementation of winning health information management strategies in a rapidly evolving digital world.
Contact Information:Melissa Bundy
Marketing Lead
melissa.bundy@pocp.com
404.245.5240
Original Source: Point-of-Care Partners Adopts ESOP Ownership: Empowering Employees to Shape the Future of Health IT
