Elite Diagnostic, a leading medical scanning company, has implemented a unique strategy known as “quasi-bonding” to combat the issue of staff migration. This innovative approach involves providing additional training and assisting with the repayment of student loans for newly hired radiographers. The ultimate goal is to incentivize these professionals to remain with the company instead of pursuing more lucrative opportunities abroad.
However, Marjorie Miller, the acting CEO of Elite Diagnostic, acknowledged that this method is not always foolproof. To address the challenge of retaining newly graduated radiographer interns from The University of the West Indies (UWI), the company has introduced a quasi-bond system. Miller revealed that the duration of the UWI course has been extended from three years to four to enhance the training and skills of these interns.
In a recent annual general meeting held in Kingston, Miller elaborated on the company’s efforts to keep interns for a longer period, emphasizing the value of the time and resources invested in their training. She highlighted the importance of retaining skilled staff in a competitive market where professionals often seek opportunities overseas.
Despite facing challenges common to diagnostic companies, Elite Diagnostic remains committed to addressing the issue of staff retention. Company chairman Steven Gooden emphasized the need for proactive measures to combat the labor shortage affecting various sectors. He emphasized that employee retention would be a key focus for Elite Diagnostic moving forward, with plans in place to address the issue up to 2025.
Financially, Elite Diagnostic reported a net loss of $11.4 million for the first quarter of the year ending September 30, 2024. Although this represented an increase compared to the previous year, the company saw a 3.4% growth in revenue, reaching $203 million for the quarter. Despite challenges such as downtime and inflationary costs impacting operations, Elite Diagnostic remains resilient in its pursuit of growth and development.
Looking ahead, Elite Diagnostic has its sights set on expanding into under-served markets, with a particular focus on Montego Bay. With a strong commitment to innovation, staff retention, and financial sustainability, Elite Diagnostic continues to position itself as a leader in the medical scanning industry. Investing in the future of healthcare and staff development remains a priority for the company, ensuring long-term success and impact within the industry.
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