Compensation programs in the age of uncertainty
By: Kyle Worthy
As we met with physicians over the past few weeks, we noticed that many of them had a common concern: what will happen to their call pay plan if… There is a multitude of uncertainties in healthcare today as more and more hospitals consolidate to gain the advantages of scale. Doctors have grown accustomed to change, and they’ve grown accustomed to decreasing reimbursements, so it comes as no surprise that the stability of any compensation program is one of their top concerns. Physicians all over the country are wondering: What if their hospital is bought; what if it undergoes a merger; what if it simply decides to end its call compensation program?
Designing for reliability
The good news is, while it’s impossible to predict the future, there are ways to design compensation plans that eliminate a number of these uncertainties. For example, our Call Pay Solution is highly customizable, which allows hospitals to give physicians peace of mind by designing plans that will trigger distributions when and if there is a change in leadership, ownership, or simply a change of heart. This customization does not end with call pay programs. Any hospital-physician compensation arrangement can incorporate these features for an added sense of reliability.
Expense recovery improves sustainability
We’ve designed our programs to provide administrations with a little peace of mind as well. As one of its biggest expenditures, compensation can either support or threaten a hospital’s financial wellness. Through funding design, our compensation programs allow hospitals to recoup a portion of their expenses, making compensation more sustainable for the future.
In today’s ever-changing healthcare environment, it’s important to seek out opportunities to increase stability. Compensation is a great place to start. That’s why we believe in creating compensation programs that can withstand change and help support the long-term financial viability of hospitals.
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