As reported by Fierce Healthcare in their article “New startup, Stitch PEO, emerges armed with $9M to alleviate pain points for independent medical practices”, independent medical practices are facing growing operational challenges, including declining reimbursements, rising costs, and staffing shortages. With private practice ownership declining—falling from 60% in 2012 to 46.7% in 2022, according to the American Medical Association—many providers are struggling to stay independent.
To address these challenges, Stitch PEO has launched as the first PEO designed specifically for independent healthcare groups. Backed by $9 million in funding, Stitch PEO offers HR, benefits management, compliance support, and employee engagement solutions. According to founder and CEO Rajesh Voddiraju, the goal is to relieve administrative burdens so that independent practices can focus on delivering high-quality patient care rather than navigating complex HR and compliance issues.
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Article with all rights reserved, courtesy of Fierce Healthcare — fiercehealthcare.com