|Download HSG’s COVID-19 Compensation Checklist|
HSG Physician Compensation Checklist
Health systems and their associated employed provider networks are beset with immediate financial losses, and future financial uncertainty as elective care was essentially eliminated by the COVID-19 (coronavirus) pandemic in the United States. Review HSG’s comprehensive physician compensation checklist to identify areas of opportunity within your organization.
Approaching the situation through a defined checklist may afford healthcare leaders an ability to step back and rationally review options during this challenging and tumultuous time.
In the wake of President Trump’s National Emergency declaration on March 13, 2020, multiple health experts and agencies, including the Surgeon General of The United States, the Centers for Medicare & Medicaid Services (CMS), and the Centers for Disease Control and Prevention (CDC), followed by more specific guidance from the American College of Surgeons (ACS) recommended that American hospitals cancel/postpone all “elective” surgical procedures to focus resources on the crippling impact anticipated with COVID-19 spread. In the days that followed, many hospitals and health systems projected adverse financial effects totaling hundreds of millions of dollars as a result of canceling or postponing high margin “elective” surgeries to be able to adequately treat expensive, complex coronavirus patients. Hospital-owned physician networks were also adversely impacted by these actions. As the elective surgeries were, are, and will continue to be postponed, the professional services revenue associated with these cases is postponed – or lost altogether. Networks already besieged by negative margins are seeing the bottom fall out.
Originally Posted by Becker’s Hospital Review on April 6, 2020