Job DescriptionWhat will you be doing in this role?
The Senior Physician Compensation & Productivity Analyst provides complex compensation consultative services to Finance, HR and Operational Leadership and Physicians for assigned areas to include physician compensation design and benchmarking, physician productivity analysis, financial analysis and forecasting, and contract review. The Senior Physician Compensation & Productivity Analyst manages projects impacting areas of responsibility and manages aspects of major physician compensation & productivity initiatives and/or programs.
Primary Duties and Responsibilities
- Conduct benchmarking and data analysis to formulate recommendations that ensure competitive, cost-effective, and legally compliant physician compensation programs and practices.
- Consult with assigned client groups to provide guidance and interpretation of physician compensation policies and programs, and evaluate requests for changes and updates.
- Interpret, analyze, and implement compensation arrangements as stipulated in Physician Employment Agreements and Medical Group Professional Services Agreements
- Identify opportunities for process improvements and introduction of best practices. Conduct market and best practice research to formulate and support compensation recommendations.
- Conduct complex costing and other statistical analyses. Prepare a variety of ad hoc reports and analyses related to physician compensation as well as physician and APP productivity/billing data (wRVUs, Charges, Collections, Visits, etc)
- Prepares and distributes quarterly compensation/productivity reconciliation summaries for physicians under such plans
- Manage components and participate in of the annual physician reviews process by preparing productivity reports, providing recommendations on salary adjustments, gathering and analyzing data to determine incentive goal achievements, calculating earned bonus awards, etc.
- Maintain and audit compensation, FTE allocation (clinical vs non-clinical), specialty benchmarking matches, productivity and other relevant information in the various databases and payroll systems (e.g., ADP, MMC, TriNet, etc.) used for the different medical groups throughout CSMCF
- Prepare and Develop Profit & Loss Statements and other financial reports as needed for specific existing physician practices and/or new physician practice acquisition efforts
- Participate and Complete annual physician compensation & productivity surveys, practice operations surveys, and cost & revenue (financial) surveys
- Participate in and collaborate closely with external appraisers / consultants on the data gathering and analysis for PSA Fair Market Value (FMV) and Commercial Reasonableness (CR) reviews
- Provide physician compensation guidance, training and regulatory updates to HR and Leadership. Act as a mentor and resource for HR, Finance and other staff across the organization pertaining to physician compensation related policies and procedures.
- Partner with Finance/HR staff and organizational leadership in solving complex business/operational issues across the organization.
- Partner with Payroll, and as needed serve as back-up, on the upload of mass pay and FTE changes.
- Ensure pay practices remain compliant with federal, state, and local regulations.
ResponsibilitiesJob qualificationsEducation- High School Diploma/GED required
- Bachelor's Degree Business Administration, Human Resources, Finance/Accounting or other related field preferred
Work Experience- 5 years Finance or Compensation experience required
- 2 years Physician Compensation experience, and/or working knowledge of physician billing and productivity measures (e.g., CPTs, wRVUs, Charges, Collections, etc.) preferred
- 2 years Experience in a hospital or healthcare related environment preferred
