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Physician Compensation Programs Shifting to Address Changing Market Dynamics and Mitigate COVID-19 Financial Implications

SullivanCotter

SullivanCotter, the nation’s leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and technology and data products for the health care industry and not-for-profit sector, recently released results from the 2020 Physician Compensation and Productivity Survey – which represents data from more than 800 organizations on nearly 244,000 individual physicians and advanced practice providers. The results reflect calendar year 2019 and, as the last set of benchmark data available prior to the onset of COVID-19, this year’s survey will serve as an important resource for organizations needing pre-pandemic compensation reference points for this critical workforce. “Although the pandemic has created a great deal of uncertainty – with many organizations making near-term modifications to their physician compensation programs as a result – we’re seeing a slow and steady adjustment to the ‘new normal’ as patient volumes have returned to approximately 90% of pre-COVID-19 levels. In some ways, the fallout from COVID-19 has simply accelerated the forces that were driving physician compensation changes prior to the pandemic, and the 2020 survey data will be very important in helping to determine how organizations are responding to these challenges,” said Tim Stamper, Senior Consultant, SullivanCotter. Physician Total Cash Compensation (TCC) While TCC has grown, on average, 2.5% annually since 2012, COVID-19-related reductions in surgical and non-emergent care have impacted the financial condition of many health care organizations nationwide – causing them to implement or consider a number of compensation and benefits-related modifications to help offset significant losses in revenue. According to SullivanCotter’s COVID-19 Physician and Advanced Practice Provider Compensation Practices Survey series, nearly 30% of participants had implemented or were considering pay reductions for front line physicians and nearly 40% of participants were doing the same for non-front line physicians as of May 2020. Median pay cuts were 11% and 15% for front line and non-front line physicians respectively. Other organizations made cuts in physician benefits in response to COVID-19. The most common benefit program changes in 2020 included eliminating or reducing retirement plan contributions, adjustments to PTO policies, and eliminating or reducing CME allowances. The majority of these actions were intended to be temporary and, as patient volumes continue to increase and organizations start to recover financially, many are returning to historical pay and benefits practices. Due to the financial impact of COVID-19, physician incentive programs have also come under scrutiny in 2020. Among respondents surveyed in May, 16% of organizations reported eliminating or reducing non-productivity incentive compensation in 2020 while an additional 38% were considering this action. Many organizations pay out these incentives at year-end, making these programs an obvious target for cost-reduction. Physician Productivity The 2020 Physician Compensation and Productivity Survey results continue to show a trend of flat or even declining median work RVU (wRVU) productivity across all major specialty categories. Since TCC showed modest increases in the 2020 survey, TCC per wRVU ratios have also increased. While we have anticipated growth in value-based incentives, wRVUs and productivity-based incentives still determine the majority of incentive or variable compensation as a percentage of TCC. Approximately 70% of organizations utilize wRVUs to determine compensation for primary care and specialist physicians, with wRVU productivity accounting for about 18% of TCC in plans with a base salary component and over 90% of TCC in plans without a base salary component. Less than half (44%) of organizations surveyed include a wRVU component for hospital-based physicians, who are instead paid primarily on base salary and shift-based models. As organizations focus their attention on maintaining patient access and minimizing the financial losses created by COVID-19, the emphasis on individual wRVU productivity will remain prominent. While the pandemic itself has had a sizable impact on patient volumes and physician productivity, the Centers for Medicare and Medicaid Services’ (CMS) proposed changes to the Evaluation & Management wRVU values loom large as organizations look ahead to 2021. These adjustments include an increase in wRVUs for most office-visit E&M codes due to added responsibilities physicians have absorbed over the last five years. As a result of the overall projected increased in wRVUs, a 10.6% reduction in the conversion factor was required in order to maintain budget neutrality. The proposed increase in wRVU values ranges from 28%-46% for established office visits, which will have a significant impact on compensation plans that use wRVUs as a determinant of compensation. Considerations for 2020 and Beyond Although COVID-19 has sharpened industry focus on supporting financial sustainability, other market dynamics and the timing of anticipated financial recovery are also influencing the way hospitals and health systems are approaching physician compensation in both the short and long-term. “Considering the implications of COVID-19 in 2020 and the impending impact of wRVU changes in 2021, the 2020 survey benchmark data represents the best data reference point for use in the near future. With appropriate context, it can serve as a foundation for understanding specialty market positioning leading into COVID-19, identifying recruitment and retention risks, and pinpointing areas of focus for targeted compensation adjustments as your organization moves forward with 2021 planning,” said Dave Hesselink, Principal, SullivanCotter. There are a number of important physician compensation considerations for organizations to assess as they continue to navigate the new normal: Be mindful of how to appropriately use 2020 survey data. Understand the timing of the data and consider what you are trying to assess before using it. It can be helpful in benchmarking the competitiveness of compensation program elements and incentive opportunities. Develop an approach to physician compensation now in response to CMS’ proposed wRVU changes. Organizations should be proactive in assessing how these changes will impact payer reimbursement and physician compensation programs. With continued uncertainty regarding the impact of the pandemic in FY2021 and beyond, be prepared for new pandemic-related challenges to patient revenues and physician compensation. Organizations would be well-advised to have a plan developed in advance of any new restrictions on elective and non-emergent care to mitigate additional financial losses. View an infographic summary of the 2020 survey results. For more information on SullivanCotter’s surveys or the upcoming Evaluation and Management wRVU value changes, please visit our website at www.sullivancotter.com, email us or contact us by phone at 888.739.7039. About SullivanCotter SullivanCotter partners with health care and other not-for-profit organizations to understand what drives performance and improve outcomes through the development and implementation of integrated workforce strategies. Using our time-tested methodologies and industry-leading research and information, we provide data-driven insights, expertise, data and technology products to help organizations align business strategy and performance objectives – enabling our clients to deliver on their mission, vision and values. Contact Details Becky Lorentz +1 314-414-3719 beckylorentz@sullivancotter.com Company Website https://sullivancotter.com/

November 11, 2020 08:00 AM Eastern Standard Time

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CMMC Center of Excellence Announces Memorandum of Understanding with CREST International

Interoperability Clearinghouse

The Cybersecurity Maturity Model Certification Center of Excellence ( CMMC COE ), hosted by the Information Technology Acquisition Advisory Council (IT-AAC), a public-private partnership serving the public and private sectors for more than 15 years, is proud to announce a Memorandum of Understanding with CREST International, an international not-for-profit certification and accreditation body that supports the global technical information security market and is headquartered in the UK. This unique partnership will extend efforts to advance the goals and objectives for improving the cyber and supply chain security and resilience of the US Department of Defense (DoD) global Defense Industrial Base (DIB) network of contractors, suppliers, and vendors through an evaluation process intended to validate the capabilities, experience, and integrity of CMMC COE provider partners. The executed MOU establishes a cooperative agreement between CREST International and the CMMC COE, in coordination with the CMMC COE EU ( http://cmmc-eu.com ), to partner in the furthering of their respective and complementary missions and objectives regarding the adoption, use, and expansion of CMMC based cybersecurity practices for the DIB contractor community and the information and communications technology community creating a broader CMMC ecosystem to improve security and resilience across the global defense industrial base. CREST ( www.crest-approved.org ) provides internationally recognized accreditations for organizations providing technical security services and also includes professional level certifications for individuals providing vulnerability assessment; penetration testing, cyber incident response; threat intelligence; and security operations center ( SOC ) services. “This is a momentous occasion for us”, said Mr. John Weiler, Chairman of the Board at CMMC Center of Excellence, “Our global expansion will further help advance the goals and objectives for improving the supply chain security and resilience of the US Department of Defense (DoD) beyond North America”. “This new partnership between CREST and CMMC COE will play an important role in strengthening the resilience and protection of vital critical national infrastructure through structured testing to validate security defenses and controls, carried out by highly-qualified and certified professionals,” said Tom Brennan, Chairman of CREST USA. “It is vital that the buying communities in both the public and private sectors have the confidence and trust that their employees, contractors or suppliers have the highest levels of knowledge, skill and competence.” With locations in Europe, Asia, Australia, and the United States, the partnership reinforces a foundation of global capability for the validation of CMMC providers in 1) training & education; 2) readiness assessment 3) development and implementation of a tailored plan of action & milestones to advance preparedness, and 4) continuous monitoring to ensure maintenance of certification compliance. The CMMC-COE ( www.cmmc-coe.org ) and the CMMC COE EU ( https://cmmc-eu.com/ ) will continue to focus on bringing together the many disparate cyber and national security communities of interest to reduce complexity, improve awareness, and accelerate industry effort to become more cyber resilient against the growing threats from nation states and criminal enterprises. The CMMC-COE partner network will be sharing a wide range of capabilities from member organizations, including; cyber standards frameworks, education, solution architectures, cyber mentoring, workforce, and other elements needed to scale to the demands of the entire DIB market place in the US and abroad (400,000 contractors). For more information on the CMMC COE, please visit http://cmmc-coe.org email info@cmmc-coe.org or call 703-863-3766 For more information on the CMMC COE EU, please visit https://cmmc-eu.com/ For more information on CREST, please visit www.crest-approved.org About Us ---------- CMMC-COE.ORG is a unique non-profit public-private partnership, with a vision to accelerate Cybersecurity Maturity Model (CMM) adoption, and reduce time & cost for security compliance for our partners by leveraging commercial best practices, CMMC standards, and innovative solutions for a measurable success. Our mission, focused on DOD mission objectives, cost containment and expeditious CMMC compliance, is to help the DIB improve cyber posture and resilience, and simplify its acquisition. The CMMC-COE is hosted by the Information Technology Acquisition Advisory Council (IT-AAC), a public/private partnership (P3) chartered in 2007 as an honest broker to reach outside the confines of the Federal IT advisories that lack dynamic reach into the Global IT Market, and dedicated to the adoption of commercial IT management standards of practice and innovations emanating from the Global IT market. Team IT-AAC has already demonstrated the value of its decade long investment, and provides a unique value to agencies seeking to achieve accelerate the transformation of legacy processes and systems. Our Just-in-Time SMEs apply an innovative suite of Technology Business Management and Agile Acquisition Processes needed to assure the business value of commercial IT. The Interoperability Clearinghouse (ICH), is the managing partner that make up the 24 NGO/SDO organizations that make up the IT-AAC. ICH provides the contract vehicles, clearances, and critical resources proven to guide sustainable, measurable and repeatable processes needed to drive better investment decisions as the speed of mission need, while aligning existing processes, methods and workforce with IT reform mandates contained in Clinger Cohen Act, FITARA, IT MGT Act, EO13838. Contact Details Bob Dix +1 703-975-6633 bob.dix@it-aac.org Company Website https://cmmc-coe.org

November 10, 2020 05:00 AM Eastern Standard Time

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DealCloud Survey Shows Optimism as Private Investors Look Beyond the Pandemic

Intapp

Fundraising Expectations High as Firms Gear Up to Deploy Dry Powder Limited COVID-19 Impact on Portfolios DealCloud (an Intapp company), a leading provider of deal, relationship and firm management solutions for capital markets firms, today released the Fall 2020 edition of its Dealmaker Pulse Survey, which indicates that private investors have moved past pandemic concerns regarding impact on current investments and are now concentrating on sourcing and closing new deals. In addition, a surprising number of firms raising new funds expect to meet or exceed their targets, despite existing dry powder. “In the six months since our last survey, the focus has shifted from portfolio concerns to dealmaking,” said Ben Harrison, co-founder and president of DealCloud. “Investors expect founder-owned businesses to see significant deal activity, though private equity firms of all sizes recognize that finding quality assets at fair valuations will be a challenge with increased competition.” The survey also revealed that fundraising may be returning to pre-pandemic levels. Only 12% of investors postponed or suspended fundraising plans, and a mere 6% lowered the target for their next fund. Meanwhile, an impressive 26% said their next fund will actually be larger than originally anticipated. Other findings from the survey include: New platforms are the focus: 70% of investors said new platform investments are their primary focus over the next six months, compared to 35% six months ago Fewer investors expect valuations to decline further: only 35% of respondents said they expect valuations to decline, down from 93% in April The pandemic continues to impact the work environment: 47% of private equity firms have plans to return to the office, and only 40% have plans to resume business development travel, as technology-driven operations are seen by many as a bare minimum to remain competitive and cultivate key relationships For some, dealmaking evaporated: 30% of investors said their firm did not close a deal (platform or add-on) since March “Clearly, investors are eager to deploy dry powder, but questions remain about who is able to close deals in this environment,” said Chris Gaffney, co-founder and managing partner of Great Hill Partners, a leading growth-oriented private equity firm. “Many firms are finding ways to close deals even as business development teams remain grounded, suggesting that the relationship cultivation that has traditionally taken place face-to-face has become increasingly reliant on technology over the past six months.” DealCloud’s Dealmaker Pulse Fall 2020 Survey polled dealmakers to gain key insights into how capital markets firms are dealing with the effects of the global pandemic and thinking about opportunities for the fourth quarter, next year and beyond. The online survey was conducted via DealCloud Dispatch, the platform’s integrated marketing solution, amid the COVID-19 crisis from Sept. 21 to Oct. 5, 2020. DealCloud will host a webinar to provide more color on the results of the DealCloud Dealmaker Pulse Fall 2020 Survey: Dealmaker Pulse: Key Findings for Capital Markets Firms to Take into 2021 Thursday, Nov. 11, 2020 at 11:00am EST Register here: https://dealcloud.com/event/dealcloud-dealmaker-pulse-key-findings-for-capital-markets-firms-to-take-into-2021/ To see the full results of the DealCloud Dealmaker Pulse Fall 2020 Survey, visit dealcloud.com/pulse. About DealCloud DealCloud, an Intapp company, provides a single-source deal, relationship, and firm management platform to enable more than 900 clients to power their dealmaking process from strategy to origination to execution. We offer fully configurable solutions purpose-built for the complex relationships and structures of private equity and growth capital firms, investment banks, private and publicly traded companies, debt capital providers, and other investors. For more information, visit dealcloud.com. Contact Details Alex Nye +1 646-502-3598 anye@stantonprm.com Company Website http://www.intapp.com

November 09, 2020 05:30 AM Eastern Standard Time

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Citybiz Interview with Tony Gruebl, President of Think & Jeff Musgrove, MD of Executive Advisory and PE & Venture Support

Citybizlist

In this second interview citybiz asks Baltimore-based Think’s Tony Gruebl, the firm’s president and founder, and Jeff Musgrove, managing director of executive advisory and PE and venture support, to discuss the company’s recent acquisition of Ventrue and why it puts the company on the path to offering services nationwide. In September, Think purchased Ventrue LLC, a Naples, Fla.-based shared services company for an undisclosed price. As part of the transaction Think signed a partnership agreement with Naples Technology Ventures (NTV), a venture capital fund that invests in technology companies. Think will provide technology and advisory services to support NTV’s acquisitions. The Ventrue and NTV deal opens new markets for Think, primarily with private equity and venture capital firms. Musgrove says potential clients are disruptors operating in insurtech, fintech and healthtech. Through Ventrue, Think can plug into these companies and advise them along the business lifecycle in three primary areas: diligence, integration and optimization. “I have been a big believer that there is a gap to be filled by a firm like Think in that space as a trusted partner to the PE or VC firm who can go in and perform those critical functions for them,” Musgrove said. “So, they don’t need to build it. We have the expertise.” To hear more from Gruebl and Musgrove, click the below video. Citybizlist is a publisher of news and information about business, power, money, and people in 13 major U.S. city markets, including Boston, New York, Philadelphia, Baltimore, Washington, Charlotte/Raleigh, Atlanta, South Florida, Los Angeles, San Diego, Dallas and Houston. To learn more about the citybizlist content platform, please email the publisher Edwin Warfield edwin.warfield@citybizlist.com Contact Details Edwin Warfield +1 443-562-9472 edwin.warfield@citybizlist.com Company Website https://citybizlist.com/

November 05, 2020 11:00 AM Eastern Standard Time

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SullivanCotter Releases Annual Health Care Executive Compensation Survey Results and Offers Insight Into Pandemic-Related Pay Actions

SullivanCotter

SullivanCotter, the nation’s leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and technology and data products for the health care industry and not-for-profit sector, recently released results from its 2020 Manager and Executive Compensation in Hospitals and Health Systems Survey — which is now in its 28th year. This year’s results include information from more than 2,300 organizations. More importantly, the survey contains the last set of benchmark data compiled prior to the onset of COVID-19 and provides important pre-pandemic reference points for assessing executive compensation programs. “While pay actions are being impacted by the pandemic, the foundational structure of executive compensation programs has generally remained unchanged. The 2020 survey data can be used to assess the competitiveness of base salaries, the level of incentive opportunities and other program design considerations. In light of the impact of the pandemic on business operations, now is an appropriate time to evaluate the broader implications of COVID-19 on your talent strategy, compensation philosophy and program design to ensure they reflect your organization’s new priorities,” said Tom Pavlik, Managing Principal, SullivanCotter. Base Salaries in 2020 In recent years, executive salaries were trending upward due to the focus on recruitment and retention of key leadership talent and an increasingly complex health care market. When comparing data reported by organizations that participated in SullivanCotter’s survey in both 2019 and 2020, median base salaries going into 2020 increased at a rate of 3.4% to 5.6% for the most senior executives of independent health systems (Vice Presidents, Senior Vice Presidents, CFOs, COOs and CEOs) as opposed to 0.8% to 4.1% for those executive positions at system-owned hospitals. However, due to the financial impact of COVID-19, many organizations have implemented temporary executive base salary reductions. According to SullivanCotter’s COVID-19 Executive and Employee Compensation Practices Survey series, which was conducted between April 2020 and August 2020 to provide insight into the current practices of more than 100 large health systems, only 14% of organizations were considering or had implemented executive base salary reductions as of April. By May, this number had risen to 31%. Through August, implemented salary reductions reached 45%. However, of this 45%, nearly half had already reinstated the pre-pandemic salaries with the remainder expected to do so by the end of the year. Base Salary Increase Budgets An analysis of the survey data indicates that, prior to COVID-19, median salary increase budgets for health care executives were expected to remain consistent with recent years at 2.7% for independent health system executives and 3.0% for system-owned hospital executives. The pandemic has impacted the financial condition of many organizations and is moderating salary increase plans for FY2021. According to SullivanCotter’s proprietary COVID-19 research, about 40% of organizations had determined their FY2021 executive salary increase budgets by mid-August. The preliminary median executive salary increase budget is 2.5%, with 15% planning to freeze executive salaries. The other 60% of organizations had not yet determined their salary increase budget, and 20%-25% are delaying the timing of these increases. These figures may change over time as financial performance will impact the ability to fully fund planned budgets, and it is anticipated that more organizations may consider executive salary freezes for FY2021. Executive Annual Incentive Plans Executive annual incentive plans (AIPs) are still the norm as organizations are increasingly focused on system-wide alignment and pay-for-performance. Prior to COVID-19, 89% of independent health systems and 67% of system-owned hospitals utilized AIPs with award opportunities varying by health system size based on net revenue. According to SullivanCotter’s research, however, COVID-19 has had a significant impact on executive incentive plans for FY2020. As of mid-August, more than half of the participating organizations had implemented or were still considering changes to FY2020 plans. While one-third did not yet know how they will handle their FY2020 annual incentive payouts, approximately 20% are eliminating or considering eliminating payouts, nearly 30% expect to pay below target, and only about 20% expect to pay at target or above. Considerations for 2020 and Beyond As hospitals and health systems plan for what lies ahead and look to support financial sustainability and mitigate risk, organizations should consider both market practices and their individual financial circumstances when determining their executive compensation and workforce-related actions moving forward. “SullivanCotter’s 2020 survey reflects the most recent normative year prior to COVID-19. Due to the current pandemic and the extremely dynamic environment, the survey data should be used thoughtfully, with appropriate context, and with sound business judgement as you are planning and considering your pay decisions for FY2020 and beyond,” said Bruce Greenblatt, Managing Principal, SullivanCotter. There are a number of important executive compensation considerations for organizations to consider as they move forward: Be mindful of how to appropriately use 2020 survey data. Understand the timing of the data and consider what you are trying to assess before using them. The data can be helpful in benchmarking the competitiveness of compensation program elements and award opportunities. Rely on sound business judgement and discretion when evaluating base salary actions and incentives for FY2020. Plan to revisit incentive performance goals for FY2021 to ensure they are tailored to the current environment. Assess the broader impact of COVID-19 on executive talent strategy and review the compensation philosophy and program design. With continued uncertainty in FY2021 and beyond, remain mindful of the environment and be flexible. For more information on SullivanCotter’s surveys, please visit our website at www.sullivancotter.com, email us or contact us by phone at 888.739.7039. About SullivanCotter SullivanCotter partners with health care and other not-for-profit organizations to understand what drives performance and improve outcomes through the development and implementation of integrated workforce strategies. Using our time-tested methodologies and industry-leading research and information, we provide data-driven insights, expertise, data and technology products to help organizations align business strategy and performance objectives – enabling our clients to deliver on their mission, vision and values. Contact Details Becky Lorentz +1 314-414-3719 beckylorentz@sullivancotter.com Company Website https://sullivancotter.com/

November 05, 2020 08:00 AM Eastern Standard Time

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M Moser Associates Expands Team to Fuel Broader Workplace Transformation Initiative

M Moser Associates

M Moser Associates, global workplace design firm, announced the addition of Ryan Merluza to expand its building systems engineering capacity, and Mesbah Mowlavi, Annie Ng, and Nic Tamura to bolster its digital workplace solutions. The expansion of the team will enable the firm to better serve clients who are re-evaluating the purpose and composition of their physical and virtual work environments. “The impact of the pandemic on how, where, and when people work requires an interdisciplinary approach to designing flexible and agile environments that enable employees to thrive in both the physical and virtual worlds,” said Nabil Sabet, Group Director at M Moser. “In helping to shape the future of work, M Moser is investing in talent and skill sets that will bring new perspectives, agility, and solutions to clients that are transforming their workplaces and workforces.” The four hires include: RYAN MERLUZA, Associate, Building Services Engineering: Ryan brings a diverse background in building systems and engineering solutions and a breadth of experience with clients throughout North America. Working side-by-side with our project design teams Ryan seamlessly incorporates strategic systems performance into the interior design/architecture of a workplace ensuring a holistic view and optimized solutions for M Moser’s clients. MESBAH MOWLAVI, Digital Workplace Strategist: Mesbah leads our front and back end development teams focused on creating workplace applications for our clients. With a background in computer engineering and a passion for digital technology and UX design, Mesbah creates digital experiences that connect the employee, team culture and their workspace. ANNIE NG, Digital Workplace Strategist: A multilingual developer with a background in behavioral science and grounded in digital design, Annie brings a people-centric focus to digital strategy. Her unique perspective enhances M Moser’s ability to create meaningful links between the workplace and human connections. NIC TAMURA, Front End Developer: Nic‘s experience as a virtual reality front-end developer for construction, architecture and engineering makes him an essential part of M Moser’s Digital Strategy team. His wealth of technical experience builds high quality digital solutions that enable companies and their people to transform at speed and scale. Sabet added, “Engineering and technology talent are essential to creating solutions that unleash the full potential of our client’s employees -- especially in times of such profound and rapid change. We are determined to be enablers of transformation for our clients, and by welcoming these professionals into our organization, we will continue to design environments that enable people to transition between in-person and remote worlds and from individual to collaborative settings with ease. This reality has been accelerated by the pandemic and it’s incumbent upon us to deliver what companies and their people will require from their workplaces well into the future.” +++ ABOUT M MOSER ASSOCIATES M Moser Associates is a global architecture, design, strategy and delivery firm with more than 1,000 professionals networked across Asia, India, Europe, and the Americas. Since 1981, we have helped transform organizations large and small as they’ve expanded locally and globally, providing solutions that meet the unique needs of their business and their people. Today, work happens everywhere, and the purpose of the office and the role it serves for employees is evolving. We believe that now, more than ever, a company’s physical workplace is a critical resource for creation, socialization and culture building. At M Moser, we work as one integrated team to align the physical, social and digital elements of your workplace and create healthy, agile and resilient virtual and physical spaces where people can connect, collaborate and do their best work – wherever they may be. To learn more about our team and how we work with clients and industry partners to create dynamic, resilient and human-centric environments please visit mmoser.com. +++ MEDIA CONTACTS Mica Guitron San Francisco Tel: +1 415 279 7305 Email: micag@mmoser.com Jessica Botos New York Tel: +1 646 204 5864 Email: jessicab@mmoser.com Alex Kendrick London Tel: +44 207 621 5400 Email: alexk@mmoser.com Contact Details Mica Guitron +1 415-279-7305 micag@mmoser.com Company Website https://www.mmoser.com/en/

November 02, 2020 09:00 AM Eastern Standard Time

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FABER FOUNDATION MAKING A POSITIVE DIFFERENCE FOR CHARITIES & NONPROFITS

The Faber Foundation

Since its launch just a few months ago, The Faber Foundation continues to make a positive difference in the operations of government agencies, first responders, charities, and nonprofit organizations focused on serving others. The Faber Foundation helps combat the spread of COVID-19 by equipping those in need of critical supplies like hand sanitizer and other personal protective equipment (PPE) – allowing organizations to continue serving vulnerable communities without disruption. After shifting production of its high-quality vodkas, gin, and rum to the manufacture of hand sanitizer ( Faber Hand Sanitizer ), the Faber team scaled its supply to get sanitizer into the hands of those who needed it most. When supply was short, Faber filled the needs that helped keep organizations operating and people safe. As supplies become more abundant, the team continues to supply businesses and consumers while meeting the steady demand from those working tirelessly to serve others. “More than 3,500,000 bottles of hand sanitizer and other PPE is already donated to a variety of organizations still struggling to obtain critical supplies,” explained Faber’s Director of National Accounts, Brenden Pakebusch. “Organizations like Goodwill and World Vision should be allowed to pursue their work without interruptions due to safety equipment supply shortages. We hope others will join us by supporting these vital efforts.” “Thanks to generous donors like Faber Sanitizer, World Vision has been able to deliver more than 320,000 of PPE like hand sanitizer, face masks, gloves, and boot covers, to first responders, medical centers and the most vulnerable people across the United States,” stated Mike Gillespie, Senior Director for partner engagement at World Vision. “As the world navigates new and unexpected challenges from the COVID-19 pandemic, vulnerable families across the United States are facing an unprecedented crisis.” “COVID-19 has hit Goodwill hard,” said Rick Hill, the CEO of Goodwill Keystone Area. “Goodwill stores and donations centers were shut down for several months, severely reducing our funding income and ability to serve others. The support from Faber continues to make a major difference in our stores and donation centers as operations resume.” The beneficiaries of Faber Foundation’s generosity include organizations, large and small, which work directly with the Federal Emergency Management Agency (FEMA) and the American Red Cross. Organizations that need sanitizer and PPE are encouraged to contact the Faber Foundation here: https://www.thefaberfoundation.com/inquiries. As COVID-19 continues to disrupt public health and the economy, those wishing to support this cause are encouraged to donate here: https://www.thefaberfoundation.com/donate “The Faber Foundation is proud to meet this need,” Pakebusch continued. “These are difficult times, and helping ease anxieties by removing the obstacle of obtaining sanitizer and PPE, further combatting COVID-19, is the most important thing we can do right now. Please join us by considering a gift so we can continue these critical operations.” The Faber Foundation’s existing supply and access to hand sanitizer can reassure nonprofit organizations, school leaders, healthcare workers, and others on the front lines. This hand sanitizer follows FDA guidelines and will be available when needed. The product is shipped directly in a variety of pack sizes, as well as by the pallet load. To learn more about the Faber Foundation’s Hand Sanitizer and support global health, please visit https://www.thefaberfoundation.com. ### To schedule an interview with Faber’s Brenden Pakebusch please contact Dan Rene of kglobal at 202-329-8357 or daniel.rene@kglobal.com Contact Details Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://fabersanitizer.com/

October 30, 2020 02:45 PM Eastern Daylight Time

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RTCORE is Evaluating Applying for a Commercial Banking License

RTCore Inc

October 29, 2020, RTCORE Inc. (OTC Markets: “PPPS”), a Delaware corporation (the “ Company ”) is evaluating the opportunity to apply for a U.S. Commercial Banking License, which the Company believes would be synergistic with its innovative CoreBanking system and negotiations for the acquisitions of Conquest Insurance Group and Spanish Moss Premium Finance Co. RTCore is a Cloud-native Banking System delivering real time digital transaction processing and settlements, with multi-bank, multi-lingual and multi-currency capabilities, while achieving high levels of operating efficiencies. The recent notice issued by the Office of the Comptroller of the Currency (OCC) allowing banks to securely embrace digital assets is a major step forward in the quest for banks to provide digital services broadly to the market. Additionally, the OCC further clarified its position on the provision of banking services to stablecoin issuers as long as the stablecoins are backed by fiat currencies on a one-to-one ratio. According to Company COO John Kelly, “The decision to begin evaluating the opportunity to create a post-modern 'de novo' bank is owed to the knowledge and experience of our management team, combined with a new banking platform whose design can successfully address the pent-up market demand for innovative digital banking products and services processed in a highly secure and regulated real time environment.” RTCore’s Chairman and CEO, Phil Walton stated “The software includes sophisticated KYC and AML monitoring, reporting and analytics. By putting our money where our mouth is, should our efforts prove successful, a new bank with a complete set of digital banking products and services running on real time settlement rails, could quickly become a market leader in the digital transformation of our legacy-based banking industry.” The Company may choose not to create a 'de novo' bank. If it does choose to move forward, there is no guarantee that it would receive the requisite licenses and approvals, or otherwise have the ability to do so. Regardless of the outcome, the Company will continue to market the RTCore System to interested Financial Services organizations worldwide. About RTCORE Inc. Headquartered in Charlotte, NC, RTCORE Inc. is an industry leader in the design, development and commercial deployment of Cloud-native, real time transaction processing software for the global financial services industry. Safe Harbor Statement -This press release may contain forward-looking information that involve a number of risks and uncertainties made pursuant to Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things, the company’s business plans and the company's growth strategy and operating strategy. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of numerous and varied factors. RTCORE, Inc. does not undertake to update any forward-looking statements except as required by applicable law. All subsequent written and oral forward-looking statements attributable to the company or any person acting on behalf of the company are expressly qualified in their entirety by the cautionary statements referenced above. Contact Details Phil Walton +1 704-965-4087 philwalton@realtimecore.com Company Website https://www.realtimecore.com

October 29, 2020 08:18 PM Eastern Daylight Time

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SullivanCotter Releases Enhanced Patient Panel Management Capabilities for its Provider Performance Management Technology™

SullivanCotter

SullivanCotter, the nation’s leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and technology and data products for the health care industry and not-for-profit sector, launches expanded patient panel management functionality in the latest update of its comprehensive Provider Performance Management Technology™ (PPMT). PPMT™ is an industry-first, cloud-based product that enables provider engagement through transparent performance-based compensation administration, reporting and analytical capabilities. As the focus on optimizing team-based care to achieve better patient outcomes intensifies, health care organizations require more effective strategies and resources for facilitating patient panel management. PPMT™ enables organizations to automate the assignment of patients to clinician panels through sophisticated client-defined rules. It then calculates a risk-adjusted panel size and applies compensation calculations for a group or individual based on an organization’s requirements – providing the flexibility to change patient attribution and/or panel compensation assignments as clinical teams evolve. PPMT™ allows for greater transparency into panel composition and serves as a single, centralized source of truth for clinician compensation. “Properly attributing patients to the correct clinician’s panel can require hours of administrative time each month. Combined with detailed analytics and powerful auditing and adjustment tools, the new panel management functionality streamlines this process to ensure more accurate attribution and support effective panel management programs,” said Shelly Slowiak, Director, Product Support, Provider Performance Management Technology™, SullivanCotter. Designed to address a spectrum of physician, leadership and other key stakeholder needs, PPMT™ combines years of health care compensation insight and expertise with an intuitive, automated technology platform to help drive clinician performance and support the transition from volume- to value-based care. It incorporates SullivanCotter’s industry-leading benchmarking data into three integrated modules, including Provider Performance Management, Provider Productivity Insights and Compensation Management Analytics. “We’re working hard to understand our clients’ changing needs and priorities and, as a result, will continue to refine our product roadmap and deliver the functionality they require to help navigate such a dynamic marketplace. This innovative new functionality will serve to strengthen our existing panel management capabilities, and is a welcome addition to PPMT™ as we strive to develop one of the industry’s most comprehensive, end-to-end technology products for managing clinical compensation and performance,” said David Schwietz, Chief Information Officer, SullivanCotter. For more information on the panel management functionality or our entire suite of Provider Performance Management Technology™ , visit www.sullivancotter.com/PPMT or contact us at 888.739.7039. About SullivanCotter SullivanCotter partners with health care and other not-for-profit organizations to understand what drives performance and improve outcomes through the development and implementation of integrated workforce strategies. Using our time-tested methodologies and industry-leading research and information, we provide data-driven insights and expertise to help organizations align business strategy and performance objectives – enabling our clients to deliver on their mission, vision and values. Contact Details Becky Lorentz +1 314-414-3719 beckylorentz@sullivancotter.com Company Website https://sullivancotter.com/

October 28, 2020 08:00 AM Eastern Daylight Time

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