Director, Provider Compensation

Corewell Health • Grand Rapids, MI

4d • Onsite

About The Position

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

Requirements

• 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

Nice To Haves

• Master's Degree
• Provider compensation experience

Responsibilities

• Directs the activity of professional staff who perform market analysis, including facilitating survey participation, market pricing jobs, and analyzing the organization's competitive position.
• Designs, plans, and implements compensation models, including managing consulting relationships and maintaining plan documents.
• Directs the administration of the provider compensation plan, ensuring accuracy of data for physician compensation, including financial analysis and reporting.
• Manages the administration of salary planning for providers.
• Provides support for governance and approval bodies.
• Administers status changes for providers (FTE change, compensation change, bonus payments, etc.).
• Maintains provider listings (supports listing for malpractice participation).
• Proactively identifies physician practices that need improvement, review, and/or change.
• Identifies and communicates "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.
• Leads 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).
• 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.
• Ensures data management incorporates the use of appropriate and validated source systems, efficient data collection tools, and integrity of data sources.
• Ensures 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.
• Collaborates with legal counsel and health system leadership to ensure observance of organizational policies, Stark law, Anti-Kickback legislation, etc.
• Acts as 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.
• Manages relationships with external provider compensation vendors and consultants.
• Counsels dyad leadership as to the effective administration within provider compensation guidelines.
• 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.
• 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.
• Conducts market analysis, such as community need assessments, programmatic need assessment, feasibility studies, and call burden analysis as needed.
• Provides analysis to validate recruitment needs.
• Develops contracting parameters for new physician hires.
• Manages the annual provider salary planning budget and review process.

Benefits

• Comprehensive benefits package to meet your financial, health, and work/life balance goals.
• 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, pet insurance
• Traditional and Roth retirement options with service contribution and match savings

What This Job Offers

• Job Type: Full-time
• Career Level: Director