Compensation Planning
In the last ten years, EthosPartners’ consultants have helped over 200 physician organizations design and develop compensation and incentive plans.
We have worked in a variety of settings – from independent, health system and HMO-owned multispecialty groups, to single specialty and academic faculty plan practices.
While there is no “best” income distribution formula to fit all physician organizations, the compensation plan that is ultimately selected by an organization must be embraced by the physicians.
Additionally, the plan must effectively align the physicians’ performance with the organization’s strategic business goals, mission and vision.
A key component of all compensation plans developed by EthosPartners is that the physicians’ contribution to the organization is recognized in the plan irrespective of the units of measurement selected.
We model our plans against historic performance and are able to accurately estimate the ultimate financial impact to the organization and, most importantly, to the physicians.
Our compensation plans involve:
- Clinical compensation planning
- Physician productivity assessment and benchmarking
- Physician executive compensation planning
- Work standards assessment and development
- Performance evaluation and improvement
- Education and consensus building
Some additional factors that make us uniquely suited to meet your compensation planning needs include:
- National recognition in physician compensation, as evidenced by our presentations at Health Care Advisory Board, Medical Group Management Association (MGMA), and American Medical Group Association (AMGA) compensation seminars
- Extensive national and regional compensation planning experience with independent physician practices and hospital-affiliated group practices
- Thorough understanding of issues facing physician practices, including the importance of a well thought out governance structure, alignment of incentives across the organization, efficient overhead use, and physician compensation plan