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.
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Hospitals and health systems have increasingly employed physicians rather than physicians owning their own practice, which has caused a fundamental shift.
Selecting the best physician compensation model for your organization is truly a journey, with progressive gains and beneficial outcomes.
promoting a team-based culture will lead employed networks to pursue non-productivity incentives within the physician compensation model.
Small changes to wRVU rates have a big impact on providers’ paychecks, organizations’ income statements, and potential compliance risks.
In this white paper, we introduce the concept of an evolving employed provider compensation plan as well as best practices for its strategy, design, and implementation.
As depicted in the graph below, HSG believes that all hospital-owed physician networks progress along an evolutionary path, from “Novice” to “High-Performing”, with most struggling to emerge from Operational Chaos. HSG’s HFMA webinar on April 20, 2017, (click here to view) took a broad look at performance improvement and, specifically, a process to discover operational […]
This case study shows how a physician contract management system can help hospitals uncover Stark issues and smooth the contract negotiation process. Background A community hospital in the Northeast was struggling to manage its contractual relationships with employed and independent physicians. Hospital leadership did not have a systematic approach to creating or managing physician deals, […]
Hospitals and health systems must be cognizant of the risks associated with “compensation stacking”, a term used to describe the cumulative effect on fair market value and commercial reasonableness as a result of multiple, individual arrangements with a physician, or a single arrangement with multiple individual components. As closer alignment between hospitals and physicians is […]