Next-Generation Physician Compensation
Topics: Physician Issues, Finance, Compensation, Labor Expense, Accountable Care, Market Trends, Strategy, Practice Management
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About this Webconference
Despite the recent surge in employment, traditional approaches to compensation fail to meet the evolving strategic goals of the integrated medical enterprise. Incentives are designed to maximize individual physician performance, encouraging the isolationist perspective. The premium on physician autonomy is viewed as an attractive employment lever, and promoting individual productivity aims to minimize practice subsidy demands.
This isolationist model undermines the strategic alignment objectives of health systems. As the market gradually infuses incentives for value and coordination and penalizes poor clinical quality and waste, compensation plans must evolve to incorporate balanced success criteria that will ensure success today and advance new goals.
However, current and future states are not without common success criteria. Effective cost controls, individual and group production, and high quality, patient-centered care will produce net positive performance under both fee-for-service and value-based delivery and reimbursement models. Furthermore, efforts to promote inter-physician and hospital-physician integration will strengthen group performance and elevate downstream business capture.
Presenter: Mack Kelly
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