Director Provider Compensation
Corewell Health
- Grand Rapids, MI
- Permanent
- Full-time
- Market Analysis – including facilitate survey participation, market price jobs, analyze the organization's competitive position
- Design, plan and implement compensation models (including management of consulting relationships
- Maintain plan documents
- Directs the administration of the provider compensation plan, ensuring accuracy of all data used for physician compensation (includes financial analysis and reporting)
- Manage the administration of salary planning for providers
- Provide support for governance and approval bodies (Corewell Health East Exec Team, CSC)
- Administer status changes for providers (FTE change, compensation change, bonus payments, etc.)
- Maintains provider listings (supports listing for malpractice participation)
- Proactively identify physician practices that need improvement, review, and/or change for a variety of reasons. In addition, responsible for identifying and communicating "best practices" or policies and key metrics when performing physician practice evaluations.
- Develops and supervises reliable, timely, and efficient processes for managing physician compensation arrangements.
- Develops management tools and metrics to monitor the performance of physician compensation relative to the budget.
- Remains educated on industry trends around physician compensation and acts as a proactive consultant and advisor to Senior Leadership.
- Compensation Design, Implementation and Communication
- Directs the development of communications associated with provider compensation activities
- Develops, prepares and updates policies and procedures affecting provider compensation
- Responsible for preparation, facilitation, administration and documentation of provider compensation related meetings, committees and forums (i.e. Executive Compensation Committee, Compensation Sub-Committee and all new compensation model related forums) * Compensation Administration- Provides oversight for the financial modeling and calculation of provider compensation and incentive plans
-Directs the analytical support and reporting related to the management and maintenance of the provider compensation plan, including:
- Clinical Compensation
- Incentives and Bonuses
- Outside Income/Stipends
- Contractual Salaries and Salary Guarantees
- Support for FMV review
- Insures appropriate confidentiality of data sources at all times
- Directs the annual salary process for physicians
- Maintains benchmark data for use in provider compensation
- Develops redundancies to validate and verify compensation reconciliations. * Compliance- Collaborates with legal counsel and health system leadership to ensure observance of organizational policies, Stark law, Anti-Kickback legislation, etc.
- Is a subject matter expert for the organization regarding rules, regulations, standards, and emerging trends impacting physician compensation arrangements
- Works with Internal Audit related to review of the plan administration * Leadership & Strategic Direction- Manages relationships with external provider compensation vendors and consultants
- Counsels dyad leadership as to the effective administration within provider compensation guidelines
- Provides recommendations to Corewell Health East Executive Team and CSC for requests for exceptions to the approved compensation model
- Directs the activities of professional staff. Provides direction and support of direct reports to ensure effectiveness and efficiency. Establishes work standards. Selects, trains, develops and evaluates direct reports
- Provides exceptional service to customers by anticipating needs, following standard work, proactively communicating and providing consistent timely and accurate information
- Supports decision making related to provider compensation – including recommendation and appropriate documentation to streamline communication and decisions
- Serves as the primary point of contact for the organization related to physician compensation and contract administration.
- Exhibits professional behavior and represents the organization’s mission and vision * Market Analysis- Manages the compilation of provider compensation data for submission to local, regional and national salary surveys and directs the analysis of information to determine the organization’s competitive position
- Manages the provider salary administration programs including market pricing and development and maintenance of formal job grades and salary ranges where applicable
- Responsible for understanding and sharing changes and trends occurring in the provider compensation market
- Conduct market analysis, such as community need assessments, programmatic need assessment, feasibility studies, and call burden analysis as needed
- Provide analysis to validate recruitment needs
- Develop contracting parameters for new physician hires * Budgeting- Manages the annual provider salary planning budget and review processQualificationsRequired
- Bachelor's Degree
- 5 years of relevant finance, human resources, or physician compensation
- Demonstrated finance leadership or equivalent public accounting experience.
- Master's Degree
- 3 years of relevant leadership experience
- Pallet to Waist (6" from floor)
- Standing: Occasionally
- Walking: Occasionally
- Forward Bend - Standing: Seldom
- Forward Bend - Sitting: Occasionally
- Trunk Rotation - Standing: Seldom
- Trunk Rotation - Sitting: Occasionally
- Reach - Above Shoulder: Seldom
- Reach - at Shoulder or Below: Seldom
- Handling: Occasionally
- Forceful Grip