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Physician's Compensation: Measurement, Benchmarking, and Implementation

ISBN: 978-0-471-32361-7
224 pages
October 2000
Physician
Physician Compensation Means More Than Money

Physician compensation planning and methodology is a complex area that is influenced by many key factors. It takes experience and sharp analytical skills to manage. This invaluable handbook will serve as a guide for the physician compensation process and provide the medical practice industry with various alternatives, as there are no simple solutions to physician compensation modeling.

This volume:

  • Provides the foundation to build compensation plans that are easily understood and accepted by physicians
  • Covers compliance with government regulations
  • Includes models addressing Stark, cost allocations, departing physicians, and new recruits
  • Discusses hospital-owned practices
  • Includes production measurements covering relative value units, charges, and collections

CPAs and health care management consultants and administrators, physician management companies, hospital CEOs and CFOs, attorneys, and actuaries will find the information in Physician’s Compensation indispensable to designing effective, equitable, and appropriate compensation plans.

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Factors Impacting Physician Compensation.

The Shrinking Pie.

Defining the Pie.

Regulatory Considerations in Physician Compensation Arrangements.

Four Basic Principles of Compensation.

Tax Considerations for Physician Compensation.

Employment Agreements.

Base Salary.

Incentive Compensation.

Physician Benefit Plans.

Measuring Productivity.

Relative Value Units.

Using Relative Value Units to Measure Productivity.

Cost Allocation.

Administering the Compensation Plan.

Academic Group Practice Compensation Models.

Physician Integration Systems.

Compensating the Physician CEO.

Physician Compensation Case Studies.

Common Pitfalls.

Appendices.

References.

Index.
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LUCY R. CARTER, CPA, is the President of Carter, Young, Lankford & Roach, PC, located in Nashville, Tennessee. She currently chairs the Valuation and Litigation Services Committee for the Tennessee Society of Certified Public Accountants and serves on the Group of 100 for the American Institute of Certified Public Accountants. Ms. Carter is also a member of the Nashville Estate Planning Council and the Medical Group Managers Association, and serves on the CEO Roundtable for the Nashville Chamber of Commerce. A frequent speaker and author of numerous articles on medical management and compensation topics, Ms. Carter is also an editorial advisor for the Practicing CPA.

SARA S. LANKFORD, CPA, is the Vice President of the Healthcare Services Division of Carter, Young, Lankford & Roach, PC. Ms. Lankford currently chairs the Legislative Committee for the National CPA Healthcare Advisors Association, is a member of the American Health Lawyers Association and the Medical Group Managers Association, and is a frequent speaker on medical management and compensation topics. She is also coauthor of the AICPA practice guides, Guide to Consulting for Dental Practices and Guide to Consulting for Long-Term Care Facilities.
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