One of the top challenges facing today’s healthcare practices is that of implementing a “fair” physician compensation model for both the physicians as well as the organization as a whole. Formulas which were once 100 percent based on production are being replaced with models based on a combination of organizational visions, values and goals. However, determining the right mix of compensation components can be daunting, especially when dealing with imperfect information.
Barnes Dennig’s healthcare consulting services leverage deep industry knowledge to create unique solutions that address critical issues facing healthcare organizations. Our high-quality and highly confidential services provide healthcare practices with a competitive edge by aligining compensation systems with the vision, values, goals and priorities of your healthcare organization.
Physician Compensation Model Design
The development and design of a physician compensation formula begins by understanding your practice’s culture and concerns; as independent, third party advisors, we appreciate the sensitivity of this topic and will act accordingly to help maximize diplomacy among all involved. Once we have a firm grasp on your goals, we will perform a complete review and analysis of your existing sytem to better understand any shortfalls which occurred in the past. Then, we develop potential new models that we test with your historical data. Once the right formula is chosen, we help implement it within your practice, ensuring proper alignment throughout the entire organization, both now and in the future.
Improved alignment of total compensation can improve productivity, service and reinforce desired behaviors to optimize your organization’s investment in human capital. My background in healthcare–in addition to Barnes Dennig’s extensive work in the industry–gives me unique insight to help capture your practice’s core values through a customized compensation strategy. For further information, click here to contact me.