Director - Physician Compensation (SMG)

WVU Medicine

15h

About The Position

Welcome! We’re excited you’re considering an opportunity with us! To apply to this position and be considered, click the Apply button located above this message and complete the application in full. Below, you’ll find other important information about this position. The Director of Physician Compensation at WVU Medicine is a strategic leadership role responsible for developing, implementing, and managing comprehensive physician and APP compensation programs. The role requires a strong background in compensation practices, healthcare industry knowledge, and the ability to work collaboratively with multiple stakeholders to ensure competitive and equitable compensation plans that align with organizational goals.

Requirements

Bachelor's degree in Human Resources, Business Administration, Healthcare Administration, or a related field.
Eight (8) years of compensation design experience in healthcare, health system or multisite medical groups; at least 5-7 years of leadership/people management experience
In depth knowledge of compensation methodologies and market trends including federal, state, and local compensation regulations and healthcare industry standards.
Solid foundation in understanding and analysis of business financials.
Strong analytical and problem-solving skills, excellent communication and interpersonal skills, and proficiency in compensation software and tools.

Nice To Haves

Master's degree in human resources, industrial relations, business administration, or related field.
Certified Compensation Professional (CCP) or similar certification.

Responsibilities

Compensation Strategy Development: Design, develop, and implement compensation strategies and models that support WVU Medicine's strategic objectives and promote competitive and fair pay practices for both physicians and APPs.
Program Management: Manage and oversee all aspects of physician and APP compensation programs, including salary and incentives
Compliance: Ensure all compensation plans comply with federal, state, and local regulations, including Stark Law and Fair Market Value, as well as organizational policies and procedures.
Data Analysis: Conduct regular analysis of compensation data to identify trends, benchmark against industry standards, and make recommendations for adjustments.
Stakeholder Collaboration: Work closely with SMG leadership, human resources, finance, and other departments to develop and communicate compensation strategies and practices including strategic input for future planning and growth.
Performance Management: Partner with leadership to ensure compensation plans are aligned with performance metrics and organizational goals; Familiarity with productivity metrics such as wRVUs.
Reporting: Prepare and present regular reports on compensation program effectiveness and provide insights to enhance decision-making processes; conduct recurring benchmarking for base and total compensation using industry surveys.
Education and Training: Educate physicians, APPs, and staff on compensation plans, policies, and procedures.
Financial and Business Acumen: Mindful management of budgets and forecasts for forward-looking implementations and improvements.
Compensation Governance: Coordinate and support the physician/APP compensation committee.