Provider Compensation Strategy
Strategic Solutions: Evolutionary Approaches to Provider Compensation in Healthcare
Our consultants specialize in adapting provider compensation strategies to the dynamic landscape of the healthcare industry, driven by the rise of hospital-employed provider networks and the shift towards value-based care. We focus on standardizing compensation structures and developing models that excel in both fee-for-service and fee-for-value environments.
Our expertise spans various healthcare settings, including community hospitals, academic medical centers, critical access hospitals, single-specialty medical groups, multi-specialty medical groups, and more. We offer comprehensive services, ranging from full compensation plan redesigns to ongoing support for managing existing arrangements.
Examples of our compensation strategy work include:
Health System Physician Network Redesign:
- Objective: Standardize compensation models across 250 physicians in a health system.
- Actions: Clean up past practices, incorporate panel size into primary care, emphasize value-based incentives, and develop an implementation strategy for change management.
Private Practice Integration with Health System:
- Objective: Develop a new compensation structure for a 50-physician private practice joining a local health system.
- Actions: Adapt the prior eat-what-you-kill model to a wRVU-based model, addressing the needs of a dynamic multi-specialty group.
Health System Alignment Strategies:
- Objective: Support a health system’s acquisition and onboarding of medical practices.
- Actions: Conduct financial due diligence, create model structures consistent with the health system’s practices, and assess the economic impact by comparing with the practice’s prior financial performance.
Ongoing Support for Health Systems:
- Objective: Provide day-to-day support for multiple health systems navigating provider compensation issues.
Our commitment is to assist health systems and large medical groups in optimizing their compensation strategies, ensuring alignment with industry trends, and facilitating successful transitions in a rapidly evolving healthcare landscape.