Health Business Report Gains from Going Employee-Owned
Original Article: The Lund Report ( https://www.thelundreport.org/content/health-business-report-gains-going-employee-owned )
Employee ownership may seem like a strange model for the healthcare industry, but a small number of companies have made the switch – and they say it’s helping to improve their recruitment and retention.
EmpRes, based in Vancouver, Washington, and focused on home health, hospice and personal care in seven states, switched to its Employee Stock Ownership Plan, or ESOP, model in 2008. The prior owner, who was an entrepreneur, decided to sell the company to employees instead of simply cashing out because he thought it was the best way to keep the company thriving, said Brent Weil, EmpRes president and CEO.