During this Feb. 23, 2017, HFMA Forum webinar, Dan Stech, principal, Pinnacle Healthcare Consulting shared strategies and examples of how hospitals, health systems, and physician groups are creating competitive and effective physician compensation plans that transition from rewarding fee for service to incentivizing physicians toward fee-for-value models.
Key takeaways from the webinar include the following:
The time for change is now. With rules and models that affect physician compensation already in place―such as MACRA (Medicare Access and CHIP Reauthorization Act), MIPS (Merit-Based Incentive Payment System), and bundled payments―hospitals and health systems should act now to tie pay to performance, said Dan Stech, principal, Pinnacle Healthcare Consulting.
Physician champions. Finding a physician who supports the compensation plan and can communicate with colleagues about changes, can cut through the noise. Don’t underestimate the power of this role in gaining buy in for physician compensation plans, said Stech.