While visiting with physician participants last week in Southern California, I was reminded of the role that convenience plays in the success of benefit programs, particularly for physicians. Most professionals’ employer-sponsored retirement plan is their largest asset. While there are advantages to participating in retirement plans, this is most likely because of their convenience. Since physicians lead such busy lives, the convenience of their plans is particularly important. That’s why we’ve made convenience a top priority when designing our physician compensation programs.
Here are three ways you can make your benefit plans more convenient for physicians:
The “set it and forget it” feature allows participants to make their decisions annually and then automatically participant throughout the year. The complexities of physician contracts can make this more difficult than it seems. With our Physicians’ Advantage Plan (PAP), we work with hospital contracts and finance to build a seamless participation process for our participants. We involve all key stakeholders early in the process, making it as turnkey as possible.
A benefit plan administrator can be your secret weapon in engaging with physician employees and making sure their benefit programs are well communicated and properly administered. But not all plan administrators understand the uniqueness of physician employment. Choosing the wrong partner can have an adverse effect on physician relationships. That’s why we’ve teamed up with a third-party administrator that has extensive experience working with physicians and healthcare systems.
Online account access is now a must for almost any benefit plan. With the help of our administration platform partner, we continue to improve the online accessibility of our PAP, and we’re currently rolling out electronic forms. These features will make it easier for physicians to actively participate in their plans without viewing it as something they simply don’t have time for.
When designing physician benefit programs, it’s important to keep the lifestyle of your participants in mind. Since physicians’ time is limited, using these strategies will help ensure that they are able to fully engage with the benefit programs you are providing. When physicians understand their benefit programs and are actively engaged with them, the programs will be more successful for all parties.
REQUEST OUR WHITE PAPER
Complete the form below and receive a copy of our latest white paper, The Call Pay Solution: Stabilizing budgets with a fair and sustainable approach
Want to Learn More?
The cascading impact of call coverage disputes By: Kyle Worthy In early September, Community Regional Medical Center in Fresno, CA was given 48 hours to resolve a contract dispute that had resulted in the loss of neurosurgery coverage in their emergency department. If they had failed to resume coverage, they…
Telemedicine’s impact on call pay By: Kyle Worthy COVID has brought about the widespread adoption of telemedicine. This technology can be a lifeline, particularly for smaller and rural facilities. For example, KershawHealth in Camden, South Carolina has thrived since it implemented a sophisticated telehealth system after losing many of its…
Perspectives on a Pandemic: Lessons learned from our podcast series By: Kyle Worthy Understanding COVID-19 has been a challenge, but at least one thing was immediately clear: its impact would be far reaching. Our podcast, Courage in Healthcare, recently launched a series called “Perspectives on a Pandemic.” We’ve spoken to…
Perspectives on a Pandemic: Dr. Ben Fickenscher By: Kyle Worthy Courage in Healthcare · Perspectives on a Pandemic: Dr. Ben Fickenscher The Pandemic’s Impact On The Opioid Crisis Covid-19 has altered our world in many ways. Members of the healthcare community have overcome unforeseen challenges and, in the process, they’ve…