The Forum’s Jan. 31, 2013 virtual event featured two experts who discussed the key steps to managing a physician valuation program and the ins and outs of common service agreements with physicians. Below are two take-aways from the event:
Develop a database to track all valuations. This is the most important aspect of a successful physician compensation program, said Ed Richardson, vice president of physician development, HCA, Inc. Among other things, HCA’s database tracks key dates related to each valuation (e.g., date the valuation was received, shelf life), as well as cross references to all other valuations related to the physician or the physician’s group.
When documenting fair market value, review multiple sources of benchmark data. In addition, account for all the factors that might effect compensation under the arrangement, said Curtis Bernstein, managing director, Altegra Health.
Learn more by accessing the event: