More and more organizations are formally aligning with physicians. These organizations require large support structures to effectively manage their physician organizations. Physician organization leaders need to focus more on leading the organization and less on the administrative components of their position.
- Contract management
- Compensation plan development and revision
- Physician payment adjudication
- Market rate identification and fair market value
- Access productivity, quality, and other physician performance data in a timely manner
- Identify productivity trends and develop improvement plans
- On-boarding new physicians.
Current Challenges Administering Physician Compensation: Disconnected systems and manual processes results in significant challenges developing and administering market competitive, legally compliant compensation plans.
- Manual processes and tools to develop and administer compensation plans.
- Minimal reconciliation between payroll system and your physician compensation system.
- Inability to produce real-time performance results for physicians.
- Minimal transparency between the administration and physicians related to the plan’s functionality.
- Maintain contracts as PDFs with manual entry of contract terms into the physician compensation system, increasing chances of error.
- Disconnect between contracts (terms) and compensation calculation.
- Long turnaround times in the design and review of compensation plans.
Common Pillars of Physician Compensation
- Efficiency and Simplicity
- Competitive Market
- Adaptable Nature