Skip to content

Incentive pay on the rise for executives

Incentive Pay is on the rise for executives

By: Leah Worthy

AdobeStock_285502263 [Converted]

A recent B.E. Smith report on healthcare compensation illustrated a growing trend towards incentivized executive compensation. Now 57% of healthcare organizations have executive compensation programs that incorporate at-risk incentivized rewards, and over the past year, the percentage of healthcare executives who received incentivized pay increased 7%.

 

These incentives are typically aimed at two objectives: the transition to value-based care and the improvement of operating margins. Most incentivized programs target both of these objectives, but place more emphasis on the transition to value-based care.

 

As incentivized programs become more common, it’s important to remember that every healthcare organization is unique. When it comes to compensation, what works at one facility doesn’t necessarily work at another. In order to maximize the benefits of having an incentivized rewards program, you need to build a strategy around the unique needs of your organization.

 

Our Healthcare Executive Advantage Plan was designed to be customizable, allowing organizations to reward what matters most to them at the time while keeping an eye on the future. Through our strategic partner network, our clients have access to tools that analyze revenue by provider and compare provider productivity relative to patient complexity. This makes it possible for them to reward things like productivity and quality in a meaningful way.

 

When healthcare organizations make the most of their at-risk incentives, their compensation program becomes a powerful tool. It can help improve productivity, performance, patient satisfaction, and cash flow, putting a facility in a position to achieve its highest goals.

REQUEST OUR WHITE PAPER

Complete the form below and receive a copy of our latest white paper: Increasing Hospital Profitability
Something went wrong. Please check your entries and try again.

Want to Learn More?

Courage In Healthcare: Dr. Paul Reiman

Courage in Healthcare: Dr. Paul Reiman By: Kyle Worthy A physician’s passion for motorsports inspires concusssion research   Making sports safer for athletes is one of today’s top issues in healthcare. There’s more awareness than ever before regarding the danger of concussions, but we still have a long way to go before…

Recruiting complexities require more tools for attraction and retention

Recruiting complexities require more tools for attraction and retention By: Kyle Worthy While meeting with a client in the rural Southwest, we discussed the challenges of recruiting and how the landscape of competition has changed for them in recent years. In order to acquire a new physician, the hospital now…

The Four Components of Effective Physician Compensation Packages

The Four Components of Effective Physician Compensation Packages By: Kyle Worthy When it comes to employee compensation, we typically think in terms of salary and qualified retirement plans. These two components represent the guaranteed elements of an employee’s compensation package. They are essential and, more often than not, they are…

Three insights that will transform the way you work with physicians

Three insights that will transform the way you work with physicians By: Kyle Worthy As a part of our work designing and implementing call pay programs at healthcare organizations, we routinely facilitate Physicians’ Call Committee meetings. Over the past thirteen years, we’ve met with with over 4,000 doctors at hospitals…

maxworth_logo

Compensation Strategies to Attract, Retain and Reward Your Physician Talent.

OUR OFFICE

Charlotte, NC

877-643-7520

800-314-8281

info@maxworthconsulting.com

Office Hours:
M-F 8:00am – 5:00pm EST

Charlotte, NC
P:  877-643-7520
F:  800-314-8281
info@maxworthconsulting.com
M-F: 8AM - 5PM

Scroll To Top