We're another year closer to healthcare reform, and its more important than ever for hospitals and health systems to begin taking a good look at their compensation plans to determine what works now, and what may need to change in the future to be effective under new hospital facility standards and requirements. It's critical to have access to reliable and comprehensive information to develop compensation plans that effectively engage employees to align with the organization’s goals. After all, compensation plays an important role in attracting, retaining, and engaging the best talent that will perform at the highest level to help the organization succeed. Integrated Healthcare Strategies has kicked-off its 2012 National Healthcare Compensation Survey season and offers the following surveys for participation. All surveys are available for purchase by the public with the exeption of the National Healthcare Executive Benefits survey (available only to healthcare organizations that participated in the survey), and Custom Surveys. We're pleased to have ASHHRAco-sponsoring our Leadership and Staff Compensations Surveys again this year!
National Healthcare Leadership Compensation Survey National Healthcare Staff Compensation Survey National Nursing Compensation Survey National Healthcare Executive Benefits Survey Medical Director Survey Advanced Practice Clinician Survey Custom Surveys
Click here to submit an interest request to participate in or purchase our surveys
Hospital-owned physician practices are on the rise - but many of these acquisitions quickly turn sour. Often times the answer for the reason why could have been discovered with a few critical questions. Probably the important question that should have been asked by the hospital is, "Why do we want to purchase this practice?" Commonly there is no clear definition on why the deal should occur, and there lacks objectives to be reached that would benefit the hospital. No vision, plus no game plan, often results in disaster. Our firm recently hosted a webinar on this topic titled, "Successful Operation of Hospital-Owned Physician Practices - Turning Losers into Winners." William Jessee, MD, FACMPE, and former president of the Medical Group Management Association (MGMA), was the presenter. He uncovered a multitude of eye-opening situations, and offered strategies and best-practices for hospitals already in these situations (or as preventative measures to protect themselves) with their acquired practices and newly employed physicians. We hope to help our audience by sharing this information. Click here to watch the webinar recording If you have further questions about this topic, reach out to us at 1.800.327.9335.
Determining physician call compensation is never an easy task for a hospital executive team. On-call coverage payments for emergency departments and trauma programs have increased in the past five to seven years, and this trend is forcing hospitals to look at different strategies to ensure that there are physicians on-call while also trying to control the high call compensation levels. Our Mary Heymans talked to Becker's Hospital Review to explain the 11 factors that can help hospitals establish fair market value for their physician call compensation plans. Go here to read the full article as published by Becker's Hospital Review.
An article featured this morning on Healthcare Finance News discusses the important topic of hospital-owned practices and how bad relationships can quickly evolve when healthcare leaders don't make critical assessments before jumping into the deal. Former MGMA President and a Senior Vice President and Senior Advisor with our firm, William F. Jessee, MD, talks about how hospitals can turn a losing practice into a winning practice by following critical strategies that can revive the relationship. Here's an excerpt from the article:
The signs of a disintegrating relationship include:
- Lack of clarity and agreement on strategic goals
- Medical staff opposition to hospital-employed physicians
- Low productivity related to compensation plan design
- Different values and culture among owned practices and with the hospital
- Lack of agreement on how to measure financial performance
- Historically profitable practices become losers overnight
- High operating costs among employed physicians and owned practices
- Practice revenues below expectation
“Perhaps the most important step of turning a losing practice into a winning practice is making sure that there is a clear strategy and that there is … strategic alignment amongst all the key players: board, management team, physician leadership and physicians in the owned practices, as well as your voluntary positions, who are not in their own practices,” said co-presenter William Jessee, MD, senior vice president and senior advisor at Integrated Healthcare Strategies. “Everybody needs to understand where you’re trying to go and why you’re getting into the physician practice business – what the objective is.”
You can read the full article here.
Adapting to healthcare reform will be challenging for many facets of a healthcare organization's operations. Strategies used today may no longer work - or at least, not to the necessary standards - in the future. The same goes for healthcare leader and physician total compensation plans. To help guide your organization, our healthcare compensation experts will be presenting a seminar that will offer insights and strategies to help healthcare organizations develop total compensation plans for their leaders and employed/affiliated physicians that will help their organization adapt to healthcare reform initiatives, and operate effectively in a changing and unchartered environment. Spotlight on Compensation in Healthcare: Strategies and Best Practices for Physician & Executive Compensation, is a seminar that will review key need-to-know trends and issues in physician and executive compensation. If you are a healthcare leader or HR executive residing in Texas or the surrounding area, we invite you to join us for this event at the Houston Marriott at the Texas Medical Center on February 23, 2012. The our presenations will begin at 8:00 a.m., but we invite you to join us for a continental breakfast starting at 7:30 a.m. Our topic on Trends in Executive Compensation will cover the scrutiny by local and national media on healthcare executive compensation. Key points to be discussed include:
- Federal and state governmental audits of executive compensation of healthcare not-for-profit organizations,
- Board and officer responsibilities and liability for executive compensation of healthcare not-for-profit organizations.
- Best practices of not-for-profit healthcare organizations for executive compensation, including:
- Transparency and disclosure
- New developments in executive compensation strategies, such as incentive programs and deferred compensation
- Recruiting and retaining talent
- Special executive compensation issues for healthcare for-profit organizations
Our Trends in Physician Compensation topic the physician integration, alignmen,t and performance components that have become so critical today for healthcare system success. Key points to be discussed include:
- Discussion of the latest affiliation and compensation models
- Identification of critical success factors for implementing the latest compensation programs
- Best practices for ensuring regulatory compliance around fair market value and commercial reasonableness
Our seminar will wrap-up and have you back on your way by 10:30 a.m. For more details and how to register, please visit or seminar web page: Spotlight on Compensation in Healthcare: Strategies and Best Practices for Physician & Executive Compensation Questions may be directed to Event Coordinator, Vicky Radcliff, at 800.327.9335 or firstname.lastname@example.org. We hope to see you there!