HOW EFFECTIVE ARE YOUR EXECUTIVE AND PHYSICIAN COMPENSATION STRATEGIES IN TODAY'S CHANGING ENVIRONMENT?
As the health care industry continues to adapt to new payment and care delivery models, recruiting and retaining executives and physicians is now more challenging than ever and requires renewed alignment between business strategies and compensation approaches.
- Industry consolidation is producing larger organizations with more complex leadership structures and scope of responsibility for executives and physician leaders.
- As the industry continues to innovate and diversify, new executive roles requiring different skill sets are evolving - which has implications on the executive talent market, peer groups and comparator markets.
- The upward trend in hospital-physician employment is raising new questions regarding physician alignment strategies, compensation approaches, governance and administration of multi-variable compensation arrangements.
- The number of advanced practice clinicians continues to increase as organizations see this provider group as a cost-effective and efficient way to provide care in an era of limited resources and escalating demand.
- As physician and executive incentive plans start to reflect a broader dashboard of performance metrics, organizations face challenges when it comes to selecting the right measures, assessing performance and reporting results.
- Improving population health is imperative, and remains an effective way to drive down costs and promote patient-centered care. The transition to value-based care provides a number of opportunities for organizations to restructure total compensation and reward for value-creation in a way that supports this overall goal.
- Regulatory enforcement continues to impact the structure of both physician and executive compensation, a critical factor which cannot be ignored in compensation program design.
Warren Kerper, Managing Principal, SullivanCotter - Warren has more than 20 years of executive management and consulting experience in human resources and compensation. He specializes in health care, higher educationand endowments. Warren has worked with a wide range of health systems, academic medical centers, managed care organizations and universities in the development of strategy and design for executive and employee compensation programs.
Kimberly A. Mobley, Managing Principal, SullivanCotter - Kim has more than 25 years of consulting experience in physician compensation. She works with health care organizations on the design of their physician compensation and governance programs and is an expert in reviewing physician compensation arrangements for fair market value. Kim also created and directs SullivanCotter’s Physician Compensation and Productivity Survey and the Physician On-Call Pay Survey.
Tom Pavlik, Managing Principal, SullivanCotter - With over 25 years of consulting experience, Tom has worked extensively with pediatric hospitals, community hospitals, health systems, academic medical centers, and health plans. He works with organizations to develop effective and compliant executive compensation plans and strategies, primarily in the not-for-profit sector. He is also a primary author of the longstanding Manager and Executive Compensation in Hospitals and Health Systems Survey.
Jason Tackett, Principal, SullivanCotter - As a Principal in the Detroit office of SullivanCotter, Jason specializes in physician compensation related matters in pediatric hospitals and academic medical centers. He has worked with more than 100 health care organizations to align compensation with strategic goals and help to navigate the industry shift from volume- to value-based health care.
Michael D. Rosenbaum, Partner, Drinker Biddle & Reath LLP - Michael is a Partner in Drinker Biddle & Reath LLP’s Employee Benefits and Executive Compensation Practice. His practice includes a full range of employee benefits and executive/physician compensation matters. He has extensive experience in designing, implementing, and funding executive and physician compensation plans. Michael also advises clients on other employee benefits arrangements available to executives and physicians of tax-exempt organizations.
David L. Wolfe, Partner, Drinker Biddle & Reath LLP - David is a Partner in Drinker Biddle & Reath LLP’s Employee Benefits and Executive Compensation Practice. He engages in a broad-based practice for tax-exempt clients covering tax-qualified plans and executive/physician compensation. His subspecialties include reducing ERISA litigation and fiduciary liability exposure, legal compliance reviews (and voluntary corrections), governmental audits and the corporate governance of benefits plans.
John J. D'Andrea, Partner, Drinker Biddle & Reath LLP - John serves as a Managing Partner at Drinker Biddle & Reath LLP and Vice-Chair of the firm’s Health Care Practice Group. He counsels clients on health care transactional and regulatory matters, including mergers and acquisitions, managed care contracting and network development, Stark Law and Anti-Kickback Statute analysis, and compliance program and regulatory due diligence reviews.