Job Summary
This role includes strategic direction and general compensation design, planning and implementation of the provider compensation plans. Serves as a consultant to senior management regarding provider compensation policies, programs, and issues. Provides routine reports and support to physicians and other relevant stakeholders regarding compensation levels. Is available to educate and answer questions regarding changes to compensation methodologies and/or regulations. The leader is also responsible for administration of approved provider compensation plans. Directs the activity of professional staff who perform the following as it relates to provider compensation:
- 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
- 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.
Essential Functions
Compensation Design, Implementation and Communication
- Leading the process for developing, transitioning, evolving and implementing the provider compensation model (including base pay, variable pay and incentive pay)
- 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, and Support for FMV review
- Insures data management incorporates use of appropriate and validated source systems, efficient data collection tools, integrity of data sources, etc.
- 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
- 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 process
Qualifications
Required
- Bachelor's Degree
- 5 years of relevant finance, human resources, or compensation experience
- 3 years of relevant leadership experience
- Demonstrated finance leadership or equivalent public accounting experience
Preferred
- Master's Degree
- Provider compensation experience
Physical Demands
- Pallet to Waist (6" from floor) > 5 lbs: Seldom up to 10 lbs
- Waist to Waist > 5 lbs: Seldom up to 10 lbs
- Waist to Chest (below shoulder) > 5 lbs: Seldom up to 10 lbs
- Waist to Overhead > 5 lbs: Seldom up to 10 lbs
- Bilateral Carry > 5 lbs: Seldom up to 10 lbs
- Unilateral Carry > 5 lbs: Seldom up to 10 lbs
- Pushing Force > 5 lbs: Seldom up to 10 lbs
- Pulling Force > 5 lbs: Seldom up to 10 lbs
- Sitting: Frequently
- 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 > 5 lbs: Seldom
- Forceful Pinch > 2 lbs: Seldom
- Finger/Hand Dexterity: Frequently
How Corewell Health cares for you
- Comprehensive benefits package to meet your financial, health, and work/life balance goals. Learn more here.
- On-demand pay program powered by Payactiv
- Discounts directory with deals on the things that matter to you, like restaurants, phone plans, spas, and more!
- Optional identity theft protection, home and auto insurance
- Traditional and Roth retirement options with service contribution and match savings
- Eligibility for benefits is determined by employment type and status
Primary Location
SITE - Corewell Health Place - 100 Corewell Drive NW - Grand Rapids
Department Name
Physician Compensation - Corporate
Employment Type
Full time
Shift
Day (United States of America)
Weekly Scheduled Hours
40
Hours of Work
8 a.m. to 5 p.m.
Days Worked
Monday to Friday
Weekend Frequency
N/A
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Corewell Health is committed to providing a safe environment for our team members, patients, visitors, and community. We require a drug-free workplace and require team members to comply with the MMR, Varicella, Tdap, and Influenza vaccine requirement if in an on-site or hybrid workplace category. We are committed to supporting prospective team members who require reasonable accommodations to participate in the job application process, to perform the essential functions of a job, or to enjoy equal benefits and privileges of employment due to a disability, pregnancy, or sincerely held religious belief.
Corewell Health grants equal employment opportunity to all qualified persons without regard to race, color, national origin, sex, disability, age, religion, genetic information, marital status, height, weight, gender, pregnancy, sexual orientation, gender identity or expression, veteran status, or any other legally protected category.
An interconnected, collaborative culture where all are encouraged to bring their whole selves to work, is vital to the health of our organization. As a health system, we advocate for equity as we care for our patients, our communities, and each other. From workshops that develop cultural intelligence, to our inclusion resource groups for people to find community and empowerment at work, we are dedicated to ongoing resources that advance our values of diversity, equity, and inclusion in all that we do. We invite those that share in our commitment to join our team.
You may request assistance in completing the application process by calling 616.486.7447.
