Running a medical practice is more complicated today than at any point in history. To be successful, you need efficient financial and operational methodologies, and a compensation plan that aligns physicians’ performance with the organization’s strategic business goals, mission, and vision. Achieving this alignment is growing more complicated, as the market continues to move toward reimbursements based on demonstrated value and efficiency, and away from productivity. No single income distribution formula will fit all organizations, but one thing is undeniable: The level of physician support for the compensation plan is commensurate with its success.
Over the past decade, our professionals have helped more than 200 physician organizations design and develop compensation and incentive plans that support their strategic goals and objectives. These physician organizations include independent, health system-owned and HMO-owned multi-specialty groups; single-specialty groups; and academic faculty plan practices. We model our plans against historic performance to accurately estimate the financial impact of these plans on the organization and its physicians.