Compensation Best Practices for Physician Enterprises

November 2, 2021

Performance Transformation

In an ideal world, employed physician enterprises would have a clear compensation strategy with appropriate governance protocols so that their employed physicians would be on a consistent, well-designed compensation structure. Unfortunately, the realities of what brought together physicians under an employed structure differ significantly from this utopian vision. Compensation design and redesign is a delicate process that encompasses both scientific reasoning to support the economics of the physician enterprise as well as artful politicking to engage physicians properly throughout the process.

There is no single finite answer to compensation. Rather, the execution of these two elements will determine the success of the compensation plan for the physician enterprise. In our updated white paper, we evaluate the most common components of physician compensation plans and offer best-practice insights on them. Additionally, we provide commentary surrounding the core structures necessary for physician engagement throughout the compensation planning process.

Download the White Paper

Social Share

Contributors

Alex Kirkland, MBA

Senior Vice President

Share this post

Related Insights

View All Insights

EHR Documentation Integrity Risks: Ten Ways to Stay Compliant

Planning and Managing Provider Compensation: A Checklist-Based Approach

Streamline provider compensation management with actionable steps to improve compliance and transparency.

Beyond Borders: Telemedicine’s Vital Role in Healthcare Transformation

Telemedicine bridges the gap in access to healthcare for rural communities.

The Dangers of an Unstable IT Infrastructure

Address Community Need with Physician Income Guarantee Arrangements

Physician income guarantees are not just good for the physician.

Healthcare Mergers and Acquisitions: How to Maximize Success

Lawmakers Grapple with Artificial Intelligence Regulation as Popularity and Utilization Grow

ChatGPT could improve providers' productivity

Overcoming Obstacles with Performance Improvement for Critical Access Hospitals

Actionable solutions for rural health leaders.

When is it Time to Switch your EHR?

Telehealth Post-PHE: How to Prepare for Reduced Reimbursement and Increased Regulatory Scrutiny

Quantifying Patient Access: Utilize Data to Identify Improvement Opportunities and Monitor Performance

Physician Compensation Technology Partnership Redefines Value

Patient Access

Our Remote Workforce is Here for You

Pursuing Patient Access: Explore Strategies to Maximize Value for Patients, Providers, and Health Systems

CDI – It’s No Longer Just About Inpatient Services

Coker IT Assessment: What's Involved?

Addressing the Challenges of C-Suite Recruitment

Invest in Developing Your Physician Practice Leaders While Helping Them Achieve Organizational Objectives

Coker’s Physician Practice Leadership Development Program

Navigating the Documentation of Community Need

IT Assessments: An Essential Initiative

Identifying and Retaining Leadership Talent

Medicare Access and Chip Reauthorization Act: What You Need to Know About MACRA

2021 Physician Fee Schedule Updated after COVID-19 Stimulus Package Signed

Is Your EHR Company Holding Your Patient Data Hostage?

EHR companies may charge an excessive fee to retrieve your patients’ data.

Managing Financial Risk Through a Value-Based Clinical Care Delivery System

Embracing Employment: How to Drive Mutual Gain, Not Mutual Destruction

Innovative Alignment Options for Rural Hospitals

Does Your HIT Vendor Contract Leave Your Organization Exposed and at Risk?

Do M&A Deals Really Result in Long-Term Value Creation? Increasing Your Odds of Success

The Increasing Demands on Internal Recruitment Departments

Are Single-Specialty CINs as Valuable as Multispecialty CINs?

Revenue Cycle Management-How Well is Your Practice?

Physician Compensation Advice: Are Your Compensation Arrangements Fair Market Value and Commercially Reasonable?

Health System Practice Investment: What’s the Cost?

Hospitals’ multi-specialty physician groups invested almost $196,000 per employed physician.

wRVUS: Are yours accurate?

Why is a Fair Market Value/Commercial Reasonableness Opinion Important for Value-Based Enterprises?

FMV/CR documentation ensures market and economic reasonability.

Rural Healthcare: Strategic Solutions for Sustainability and Growth

Explore solutions that help rural healthcare providers thrive despite unique challenges and limited resources.

5 Fatal IT Vendor Contract Mistakes

Prevent devastating consequences that can adversely impact the company.

Could I Benefit from an Appraisal Review?

MACRA and MIPS in Physician Practice Valuations

Strategic Planning Video Series: Ensure You Have the Right Resources

The final installment of the 5-part video series on strategic planning.

Sourcing Candidates: How to Identify Qualified Leaders

Achieve Quality Improvement through IT Integration

Managing Health System Access Points in the Wake of COVID-19

What Are Your Margins? Owing to MACRA/MIPS, They Soon May Change

Solidifying Organizational Development: Identifying and Retaining Leadership for Your Organizational Culture

Going Beyond EHR: Leveraging AI and Digital Transformation Strategies

Unlocking the Future of Healthcare: How AI and Digital Transformation Enhance EHR Capabilities

Harmony-MD

Enhance Your Executive Compensation Model to Improve Retention and Recruitment

Navigating the Digital Transformation Maze in Healthcare

Insights from the 2024 Becker's IT + Digital Health + RCM Conference

Understanding Value-Based Compensation Models

How should physician compensation models evolve with the shift toward value?

Coker Interviews AHLA President Rob Niccolini

Incorporating Value-Based Metrics into a Physician Compensation Plan

The Year in Review

Developing Competent Physician Leaders: Maximizing Talent to Boost Operating Results

Interim “C” Suite Management: Develop a Customized Job Description

2018 Updates to Macra

The Growing Issue of Compensation Governance

Is Your Telehealth Solution HIPAA Compliant?

Telehealth enforcement discretion ends May 11, 2023

Physician Practice Mergers: Leveraging Strength in Numbers

Key Factors for Developing High-Potential Employees

“CIO-on-Demand” – An Innovative Approach to Meet Interim CIO Needs

3 Questions to Ask While Fighting Healthcare Inequities

Intentional strategic planning combats healthcare inequities.

Building a High-Performing Physician Enterprise

Deliver more value in healthcare as a high-performing physician enterprise.

Leadership Development and Succession Planning

Top Trends in Healthcare for 2023

What's on the horizon for 2023?

Practice Management: An Integrated Approach to Short- and Long-term Improvement

Making the Most of Your MACRA Reporting

Challenges of Clinical Documentation

Moving Forward With MACRA: A Review of Progress, Changes, and Preparation

Let’s Talk about Why Qualitative Information Matters in Your Physician Needs Assessment

The medical community's input and health system leadership can be vital to a comprehensive physician needs assessment.

The Dangers of an Unstable IT Infrastructure

Physician Documentation: My, How Times Have Changed!

Developing a Physician Leadership Strategy

Reassessing Value in Hospital-Based Subsidy Arrangements

Evaluate and document the value of your service provider.

Coker ValuePath™ Services: Successfully Navigate the Path to Value

Direct to Employer Contracting Arrangements: A Response to Rising Premiums and Compromised Care

The Importance of a CMO: It's a Big Job!

Coker Elevates Talent with Fall 2024 Team Member Promotions

Promotions are effective October 1, 2024.

Never Lose a Step while Filling a C-Suite Vacancy

Bridging the Gap from Fee-For-Service to Fee-For-Value (Without Losing Your Mind)

Will Innovation Capture Value-Based Market Share?

Primary care value-based care model disrupts the market.

MACRA—What IS it?

Trinity Hunt Partners Establishes Healthcare Advisory Platform with Investment in Coker

Trinity Hunt will work closely with Coker’s skilled team to facilitate expansion.

Interim Management: What Makes it Effective?

Three Critical Keys Before Opening a Physician Recruitment Search

MACRA Implementation: Have you Established a Plan to Succeed?

Revenue Cycle Management – Look Out for the Red Flags!

Implementing Sustainable Telehealth Strategy and Operations with PREMEDEX

Aligning Hospitals and Physicians with Clinical Co-Management Agreements

Developing Management Services Organizations for Private Practices: The Newest Version of Strength in Numbers?

Stay competitive in a rapidly consolidating market by leveraging the growing prominence of MSOs in recent years.

Three Quick Tips to Get You Started with the New E/M Guidelines

Announcing our New Book on Private Equity and Healthcare

Press Release: Coker Team Authors New Book on Private Equity and Healthcare

12 Mistakes Executives Make on Resumes (and How to Avoid Them)

Avoid making common resume mistakes that put your resume into the “no” pile.

E/M and ME: How will the 2021 E/M coding changes impact medical practices?

Top 5 Trends in Healthcare for 2022

How have the 2021 trends changed and involved?