I had the opportunity to attend a key event this week hosted by the Birming-ham Business Journal, sponsored by Burr and For man, and titled Health-care Reform: Impact on Alabama Business. 

The speakers were clearly expert with presenters that included Dr. Sandral Hullett, CEO and medical director of Cooper Green Hospital. 

Also presenting was Jim Pool, attorney and shareholder with Maynard, Cooper and Gale.  Expert Joan Ragsdale, CEO of MedManagement, works to advise physicians with the administration of healthcare services. 

Jim Stroud was also present. Jim is a member of the Healthcare Consulting group of Warren Averett with 30 years of consulting and accounting experience. 

The details, nuances and implications of this legislation are vast, and I came away with more questions than answers. The bottom-line message is this, and to quote North Jefferson supporter Dean Taylor of Webb Payroll, “The time is now to get ready for the changes, and you had better square up with a good human resource person or a good attorney.”

Here is a brief summary and some ideas to get you started. 

First, this legislation is big. It is the largest historical legal overhaul since the passage of Medicare and creates health access for 30-35 million uninsured.  The legislation does not come without cost, especially to business, and has fees, schedules and tax penalties if not adopted. 

Currently the United States pays $3,000 more per person than any other country on the cost of healthcare, yet ranks 25th in life expectancy behind Japan and Luxemburg. The impetus for the movement is to try and seek a balance between the cost of the care and the outcomes achieved, and to seek equilibrium between the cost of treatment when we get sick (most commonly with diabetes and obesity) while also creating a shift to wellness and prevention. 

Employers should take this time to assess the benefit function that they make available to their employees which may include everything from health and dental to support for education and even uniforms. 

If your company already offers healthcare, take a good look at what your employees are getting and not just in a top down manner. Bring them in as a team and get their input to ensure that the benefits are actually bringing value.

This is a critical must-do according to the presenters as businesses move out of the recession while now being saddled with this additional financial responsibility of the health legislation.

Previously I have written in this column about the value of the customer, and certainly that is still true, but now is the time to assess the value of your employees. If you are like many companies who have endured and sustained lay offs and downsizings, you have cut many people. 

While some may have needed to go, it is not uncommon for companies to have been forced to cutting really good employees too. Now is the time to look at your true best asset, the employees that remain. 

Retooling and protecting this asset will be vital as companies continue to pull through the recession. 

Consider the number of employees that work for you. Consider what works for your business, and what your employee desires.  Consider any timeframes for implementation. 

Educate yourself, and seek out experts to lead you through the change. Tease through the information with your employees and seek early for compromise. 

At the end of the day, will it be better to have Cadillac insurance or get paid? These decisions are and should be driven by what the company can afford while also keeping in mind quality outcomes.  And of course, keep it competitive. 

And remember, take care of your customers, or someone else will. 

You can find additional readings on my blog at http://businessadvise4u.blogspot.com. Teresa works for Sanofi-Aventis Pharmaceuticals and supports the Fultondale Chamber of Commerce.