Job DescriptionBe a part of a world-class academic healthcare system,
UCM Medical Group as a
Manager of Physician Compensation. This position will be primarily a work from home opportunity with the requirement to come onsite as needed. You may be based outside of the greater Chicagoland area.
The Manager of Physician Compensation for the UCM Medical Group is responsible for designing, implementing, and managing physician compensation programs to ensure they are competitive, equitable, and aligned with organizational goals. This role involves collaborating with finance, legal, revenue cycle, ambulatory operations, and providers on compensation design and implementation of new compensation models.
Essential Job Functions- Lead the design, implementation, and ongoing administration of physician compensation plans, ensuring they are competitive and align with the organization's strategic goals. Ensure that all compensation practices comply with internal policies, legal requirements, and industry standards.
- Collaborate with shared service departments, such as Revenue Cycle, HR, Strategy, Managed Care, UCM Medical Group, UCPG and the BSD to gain consensus on physician compensation philosophy, strategy, and implementation.
- Maintains professional and technical knowledge through professional publications, contacts, seminars, teleconferences and other training; Promotes the sharing of information with staff during team meetings. Remains abreast of best practices and thought in the compensation field.
- Develop key performance indicators (KPIs) and dashboards to monitor and report on monthly, quarterly, and annual performance targets. Utilize advanced analytics tools, such as Tableau and other business intelligence systems, to automate and populate dashboards with relevant data for performance monitoring.
- Conduct ongoing market analysis to ensure physician compensation is within fair market value, adjusting compensation structures as necessary to maintain competitiveness.
- Manage the financial aspects of physician contracts, including performing monthly and annual incentive calculations to ensure alignment with approved compensation agreements.
- Directly manage compensation resources, providing guidance in the design and administration of incentives and margin share programs.
Required Qualifications- Bachelor's degree in accounting, Finance, Business Administration, or a related field. A master's in business administration or related field is preferred.
- Minimum of five years of progressively responsible finance, accounting, or analytical experience in healthcare required.
- Demonstrated experience with hospital or academic medical center physician compensation management and governance is preferred.
Preferred Qualifications- Certified in Provider Compensation Valuation (CPCV) or related field is preferred.
Skills- Advanced proficiency in financial analysis and compensation modeling with a strong command of Microsoft office suite and physician compensation software platforms such as Simpliphy.
- Excellent written and oral communication skills, with the ability to present complex financial data to diverse audiences.
- Strong relationship-building skills, with the ability to work collaboratively across departments and with senior leadership.
Position Details- Job Type/FTE: Full Time (1.0 FTE)
- Shift: Days
- Unit/Department: GMG Administration - Hyde Park CN
- Location: Remote
- CBA Code: Non-Union
Compensation & Benefits OverviewUChicago Medicine is committed to transparency in compensation and benefits. The pay range provided reflects the anticipated wage or salary reasonably expected to be offered for the position.
The pay range is based on a full-time equivalent (1.0 FTE) and is reflective of current market data, reviewed on an annual basis. Compensation offered at the time of hire will vary based on candidate qualifications and experience and organizational considerations, such as internal equity. Pay ranges for employees subject to Collective Bargaining Agreements are negotiated by the medical center and their respective union.
Review the full complement of benefit options for eligible roles at Benefits - UChicago Medicine.
