COMPENSATION STRATEGIES TO ATTRACT, RETAIN, AND REWARD HEALTHCARE PROFESSIONALS

Healthcare organizations are searching for ways to attract, retain and motivate physician talent. But in today’s complex regulatory environment, finding solutions that are both meaningful and financially sustainable is difficult.

 

Many traditional compensation arrangements fall short of reaching initial goals. The programs are either divisive or financially unsustainable.

 

At MaxWorth Consulting, we specialize in the evaluation, design and implementation of creative compensation strategies for the healthcare community. We assist clients in the establishment of strategic processes designed to attract, retain and motivate top physicians.

 

We apply our 35 years of benefit design experience to solving your most unique compensation challenges.

What are your current

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Cost of Call Pay

Healthcare organizations are under more pressure than ever to compensate physicians for taking call. Therefore, the cost of call pay is rising at a rate that will prove to be unsustainable for most organizations.

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Attraction

As hospital employment increases and the physician shortage continues to grow, physician recruitment is becoming more competitive than ever. Today, recruiting costs can reach over $200,000 per physician.

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Retention

Increased competition for physicians has made retention more difficult than ever. 25% of physicians leave a facility during their first 3 years of employment, and the loss of a single physician can cost over $500,000.

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Alignment

Physician alignment has never been more important or had a more direct impact on revenue. Alignment can be negatively impacted by culture issues like distrust, low engagement, and top-down decision making.  

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Executive Turnover

The average tenure of a hospital CEO is only 5.6 years. Since stability in executive leadership is vital to the performance and growth of a hospital, executive turnover is a growing concern in the healthcare industry.

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Financial Stability

The escalation of physician spend has become unsustainable. Dealing with financial pressures beyond their control, hospitals are trying to regain footing in a competitive market.

Our

Call Pay Solution®

A fair, transparent, inclusive and sustainable approach to paying for call

Physicians’ Advantage Plan™

A unique physician benefit that creates market distinction and improves alignment

Physicians’ Call Committee™

A physician-driven process for determining burden of call 

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Hospital Executive Advantage Plan™

A unique and cost-effective program to reward and retain top executive talent

Want to Learn more? Let’s Talk

Every healthcare organization is unique. Our solutions are designed to be customized in order to fit your needs. If you would like to find out more about us and our solutions or simply discuss your organization's compensation challenges, complete the form below and we will arrange a call with one of our consultants.

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