Overcoming Challenges in Provider Compensation: Understanding Issues Caused by COVID-19 and Changes to the Medicare Physician Fee Schedule
Overview
Developing and maintaining strategies for employed provider compensation has never been easy. HSG continually partners with clients in overcoming challenges in provider compensation by creating compensation plans that are specific to and evolve with an organization’s needs. This may involve focusing on alignment between productivity and compensation, balancing market rates with organizational sustainability, and/or shifting compensation dollars towards value.
But two acute issues will continue to add challenges in provider compensation over the next few years:
- Issue #1: Reduced volume during the COVID-19 pandemic will lead to artificially high per wRVU compensation rates in surveys based on 2020 data.
- Issue #2: For many specialties, changes to the 2021 Medicare Physician Fee Schedule (MPFS) will result in wRVU production that is significantly higher than levels reported in surveys using data from prior years.
This whitepaper will provide in-depth analysis of these two issues and discuss strategies for avoiding potential pitfalls related to provider compensation.
Regardless of how your organization implements the updated fee schedule, it is critical to be aware of the long-term impact each decision point can have on your health system’s financial status. To discuss how HSG is partnering with health systems around the nation to overcome challenges in provider compensation and redesigning elements to better align with organizational goals and objectives, contact Eric Andreoli directly.
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Related Thought Leadership
HSG has been considered experts in physician compensation for 20+ years. Access more content related to our insights from partnering with health systems around the nation and ways in which we’re partnering with them to overcome current challenges in provider compensation.