Physicians' Compensation & Incentives Solutions
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.
BIOMED is helping physician organizations to design and develop compensation and incentive plans that support their strategic goals and objectives. These physician organizations may include independent, health system-owned, multi-specialty groups, single-specialty groups and academic faculty plan practices. We model our plans against outstanding performance to accurately estimate the financial impact of these plans on the organization and its physicians.
• Traditional income distribution planning
• Alternative private and integrated physician practice compensation plan development
• Physician productivity and efficiency assessments and benchmarking
• Physician executive compensation planning
• Work standards assessment and development
• Performance KPIs evaluation and improvement
• Compensation assessments based on reasonable fair market value