Job DescriptionWhat will you be doing in this role?
The Manager of MN Physician Compensation supports the Director in managing the compensation review and reconciliation process across all medical groups, including those under HHP. This position maintains and assists in making recommendations related to physician compensation plans. The Manager provides leadership and competency on physician compensation matters. Under the direction of the Director, this role is responsible for the planning, development and implementation of specific pay practices to ensure fair market value, legal compliance with company policies, state and federal regulations.
In this role, the incumbent will oversee the processing of all payroll-related functions for physicians in the medical groups affiliated with the Cedars-Sinai Medical Care Foundation. The Manager of Physician Compensation will manage and coach staff in the data analysis and implementation of physician compensation and physician payroll.
ResponsibilitiesPrimary Duties & Responsibilities- Drives the design, evaluation, and implementation of physician compensation strategies and complex compensation models that align with financial and organization objectives and incentivize physician productivity and performance.
- Oversees the implementation of physician compensation plans.
- Works in conjunction with executive management, legal counsel and human resources to develop new agreements and make necessary revisions to existing agreements,
- May serve as a representative on all group compensation committees to provide committee support and guidance.
- Maintains the database of all existing agreements and is responsible for managing communication of all changes with financial and/or budgetary impact.
- Responsible for managing payments made to contracted physicians as outlined in individual physician contracts.
- Responsible for managing monthly charge backs made related to medical director, administrative and other duties that may be performed by employed physicians.
- Performs financial modeling, conducts internal valuations and assessments and/or obtains external valuations for each agreement to ensure compliance with policies and regulatory requirements.
- Serves as communication liaison with Medical Network Leadership, Business Development, Recruiting, and Finance departments, as well as Medical Network Human Resources and Payroll departments.
- Manages scheduled changes to physician compensation as indicated in each Employment Agreement (i.e. base rate changes, transitions from guaranteed compensation periods, changes to stipends, incentives, etc.). Ensures that systems are in place to allow for timely notification of these issues.
- Works closely with physician recruitment and leadership to assure compensation programs are market competitive. Assures that programs are modified as necessary due to competitive market criteria and/or changes in business strategy.
- Oversees audits of salary changes within each specialty to assure conformance with established guidelines and procedures.
- Manages the Physician Payroll process to include oversight over ADP and other third-party HR/Payroll vendors such as MMC and Trinet.
- Ensures staff is maintaining and updating HR/Payroll records, processing bi-weekly and ad-hoc payrolls, routine and ad-hoc reporting of payroll data, preparing year-end adjustment payrolls, coordinating input of benefits-related data, government reporting, development of payroll processes and policies following all applicable federal, state and local laws and ordinances, and other relevant payroll duties as assigned.
QualificationsJob qualificationsEducation- Bachelor's Degree in Healthcare, Business Administration, or related field with courses in Healthcare, Finance, Accounting, Statistical Analysis preferred
- Master's Degree in Healthcare/Business Administration or related field preferred
Work Experience- 5 years of experience in Healthcare Finance and physician compensation required
