Episode 118: How Provider Compensation Design Impacts Performance

September 21, 2023

Explore how compensation design can be a powerful tool.

Performance Transformation

Physician Compensation

This episode delves into the complex world of compensation design within the healthcare industry, focusing on traditional hospital/employed provider models. We explore the common pain points experienced by clients of all types when incentivizing strategic goals.

Join us as we discuss the various considerations hospitals and health systems face, including concerns about provider compensation spending and fair market value. We also examine incentive structures designed to foster growth and meet strategic objectives, all while ensuring that compensation plans remain competitive in the challenging recruitment landscape.

But it's not just about the financial aspect. We'll also explore how compensation design can be a powerful tool, acting as a 'carrot' to drive productivity and achieve organizational goals. And when compensation design isn't enough, we'll delve into the other factors influencing low provider productivity.

Tune in for an insightful conversation on the critical intersection of compensation design and healthcare strategy.

Aligning physician incentives with organizational goals (4:25)
Designing physician compensation models (8:54)
Analyzing audio transcript for insights (14:39)
Redesigning physician compensation models (19:48)
Designing and implementing fair and equitable compensation (26:30)
Physician compensation model design (33:37)
Provider compensation and performance improvement (37:15)

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Extras

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Podcast Information

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Contributors

Brandt Jewell

Senior Vice President

Alex Kirkland, MBA

Senior Vice President

Andrew Sobczyk, MHA, FACMPE

Vice President

Baynes Welch

Senior Associate

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Episode 118: How Provider Compensation Design Impacts Performance

Explore how compensation design can be a powerful tool.

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