Reimbursement in healthcare is moving to pay for performance (P4P) as well as other value-based payment or risk models such as shared savings, bundled payment, and capitation. With the rollout of these models, your compensation plan needs to anticipate the provider payment changes coming your way. If your medical group is like most across the country, it is likely that your current compensation plan is still largely productivity-based. How do you develop a physician compensation model that allows you to transition to fee-for-value without losing current revenue streams?
We develop physician compensation strategies that minimize disruption to financial and operational stability and assure buy in. In addition to the more typical productivity-based models, we design incentive-based compensation plans that reward for quality, patient satisfaction, efficient resource utilization, patient access to care, practice financial performance, and other goals.
An effective physician compensation plan needs to align strategically with the group’s goals in order for the group to be successful. As skilled facilitators and experts, we lead a collaborative process involving key constituents that results in physician reimbursement that is fair, consistent with the goals and objectives, and supports the strategic, clinical, and financial goals of the organization.