OverviewThe Analyst, Physician Contracting and Compensation is responsible for supporting the Vice President in the design and administration of physician contracts and compensation. Closely collaborates with the Vice President to ensure that provider contracts are developed, renewed, and administered timely. The role involves collaboration with multiple stakeholders in the physician compensation process, including, but not limited to: Senior Leadership, Department Leadership, Finance, Legal, Human Resources, and Strategy. Reports to the Vice President, Physician Compensation and Contracting.
Responsibilities- Provider Contracting: Support the Vice President in the central coordination of contracting activities among department leadership, physician enterprise leadership and other key stakeholders.
- Analytical Support: Provide analytical support in all areas of Physician Compensation and Contracting, including, but not limited to:
- Track expiration dates for existing contracts
- Track each contract as it moves through the contract approval process; from the initial request to the execution of the agreement(s)
- Design and propose compensation terms at the time of renewal and for new hire physicians
- Conduct fair market value analyses
- Evaluate programmatic compensation models
- Produce ad-hoc reports related to physician compensation for senior leadership
- Create the agenda for weekly/monthly physician compensation committees, take notes during the meetings to ensure accurate documentation of approvals and follow up items, and publish the disposition of agenda items following the conclusion of the meetings
- Support the Vice President in the evaluation of external partnerships
- Collaborate with Finance on business planning by providing compensation assumptions
- Compensation Strategy Development: Support the Vice President in the design and implementation of comprehensive physician compensation models, considering factors such as productivity, quality metrics, and specialty mix.
- Market Analysis: Conduct thorough market research to benchmark physician compensation against industry standards and competitor practices.
- Financial Modeling: Develop and maintain financial models to assess the impact of different compensation strategies on the organization's financial performance.
- Compliance Management: Work alongside the Vice President to ensure compliance with all applicable healthcare regulations regarding physician contracting and compensation, including Stark Law and Anti-Kickback Statute.
- Stakeholder Management: Collaborate with key stakeholders including department chairs, administrators, legal counsel, human resources, and senior leadership to align contracting and compensation strategies with organizational objectives.
- Systems Improvement: Support the Vice President in the implementation of a centralized contract management software to ensure that all contracts are stored and processed within one centralized tool. Provide day-to-day support in the maintenance of the designated tool(s).
- Assist the Vice President in training more junior staff members.
- Perform other duties as assigned and directed by the Vice President, Physician Compensation and Contracting or designee.
QualificationsRequired Skills: - Financial and Analytical Acumen: Possess strong financial and analytical skills (including an expert understanding of Microsoft Excel) to evaluate financial data and develop sound compensation models
- Healthcare Industry Expertise: Possess a basic (at minimum) understanding of healthcare operations, physician practice management, and current trends in physician contracting and compensation.
- Legal Knowledge: Possess a basic (at minimum) familiarity with healthcare laws and regulations related to physician contracts and compensation
- Communication Skills: Excellent written and verbal communication skills to effectively communicate with physicians, stakeholders, and legal teams
Qualifications- Bachelor's degree required.
- Master's degree preferred.
- Minimum of 2 years of experience with physician compensation and contracting, or a closely related field.
- Compensation analysis and/or benchmarking capabilities experience strongly preferred.
- Excellent verbal and written communication skills.
Pay RangeUSD $75,000.00 - USD $95,000.00 /Yr.
