For Prospective Members: Physician Compensation for the New Physician
Redesigning compensation to engage physicians in practice improvement
Topics: Workforce, Labor Expense, Compensation, Revenue Capture, Revenue Cycle, Finance, Physician Revenue Cycle, Billing and Collections, Hospital-Physician Alignment, Physician Issues
Currently, compensation structures target physician productivity at a basic level by hitching performance metrics to net income per employed physician. While this strategy has improved upon challenges that medical groups faced years ago—only 10% of executives cited physician productivity as main cause of underperformance in 2008, down from 20% in 1999—such a narrow definition covers up other legitimate factors of negative performance and obscures the potential to effectively promote broader hospital goals.
There is no question that medical groups are being pushed to exceed past expectations of performance and contribute more value to the health system. Where uncertainty arises is how to succeed in pushing productivity levels and in achieving optimal value within physician practices.
This complimentary webconference hosted by the Medical Group Strategy Council will identify why engaging physicians in driving forward the goals of not only the medical group but also the health system is critical for future prosperity. The presentation will also dissect how medical group leadership can promote strategic alignment through incentive-driven compensation models.
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“That sense that they’re just a drain on the bottom line is incredibly demoralizing for physicians. How can we expect them to recognize the value of being part of a larger organization if we don’t recognize the broader value the bring to us?” — COO, 1,000 physician medical group
Register now to hear from Mack Kelly, Practice Manager, on what high-performing medical groups are doing to change the status quo of physician compensation and walk away with tactical guidance on creating an enduring framework for physician-led compensation.
Specifically, attendees will learn how to:
- Design an adaptable framework for physician compensation
- Balance financial performance and strategic contributions
- Prioritize incentives for fiscal responsibility and alignment
- Engage physicians to lead compensation design
- Encourage transformative pursuits absent market incentives
- Upon registering, gain access to our Physician Compensation: Study in Brief, which previews 12 must-hit steps in compensation redesign.
- Attendees of our session will also receive an excerpt from the Medical Group Strategy Council's recently released white paper, Next Generation Physician Compensation.
About Our Practice Management Offerings
In light of the growing role of the medical group in the future prosperity of the health system, the Advisory Board has assembled experts to address the specific needs of medical group leadership.
The Medical Group Strategy Council is the Advisory Board’s research membership program providing physician practice administrators with best practice research and tools to elevate medical group engagement, alignment, and performance.
Crimson Practice Management is a technology solution to help hospitals and medical groups drive the physician-centric medical group performance initiatives necessary to maximize value and total health system contribution.
Southwind offers long term or interim consulting services to achieve full medical staff integration through physician practice management and consulting services addressing physician employment, physician practice acquisition, clinical integration, and alternative models of physician alignment.
More Information
This webconference is open to all medical group and health system leadership. For more information, please contact Emily Carmichael at carmiche@advisory.com or 202-266-6663. Advisory Board members at non-hospital organizations, please contact abhcic@advisory.com.
Please note, a valid hospital email address is required to process registration.
