What Does the Physician Compensation Roadmap Look Like?
- July 18, 2023
Many external factors have impacted physician compensation over the past several years. The extensive list includes pandemic-era volume reductions, volatile survey data, Medicare Physician Fee Schedule changes, rising inflation, and the list goes on! If there is any constant, it is that change is inevitable.
With so much uncertainty, how can healthcare systems possibly plan for the future in terms of a sound physician compensation strategy? The answer lies in understanding expected shifts in the physician workforce, and the need for a nimble compensation structure that can adapt to market forces.
The model should be able to allocate compensation dollars across different incentive components that are proportionately aligned with revenue streams, which should be re-evaluated regularly and updated as reimbursement streams shift.