Exec Director, Physician Compensation

MemorialCare•Fountain Valley, CA

3d•Onsite

About The Position

The Executive Director, Physician Compensation (“EDPC”) is responsible for leading MemorialCare Medical Foundation’s (“MCMF”) physician compensation governance, strategy, policies, procedures, practices, benchmarking, fair market valuation (“FMV”), compliance with federal and state laws and regulations (including Stark and anti-kickback statutes), modeling, analyses, reporting, and administration of MemorialCare Medical Group (“MCMG”), MemorialCare Independent Physicians (“MCIP”), and MCMF’s independent contracted physicians. The EDPC leads the governing bodies and working groups responsible for physician compensation. The EDPC partners with executive and physician leaders to ensure physician compensation models are competitive and incentivize activities, behaviors, to meet MCMF’s clinical quality and financial performance objectives. The EDPC develops and maintains the infrastructure, systems, processes, and personnel necessary to ensure timely, accurate, consistent, and durable administration of physician compensation. The EDPC manages the performance, quality, and deliverables of the physician compensation team and consultants, and is responsible for developing and adhering to the department’s budget. The EDPC is the subject matter expert on physician compensation, productivity, and benchmarking, and applies that expertise and leadership to lead the physician compensation function, mentor and develop team members, and inspire confidence with stakeholders.

Requirements

Minimum of 5 years of director or higher-level leadership experience in healthcare or finance.
Minimum of 3 years experience leading a team of 3 or more staff.
Demonstrated expertise in complex financial analysis.
Demonstrated expertise presenting to and working with executive teams.
Bachelor’s degree in quantitative discipline, e.g., business, accounting, finance, economics, engineering, mathematics, physics, etc.
Master’s degree in business administration, healthcare administration, or a quantitative discipline.

Nice To Haves

Keeps current on emerging and new laws, regulations, and best practices by maintaining membership and engagement with key trade groups (e.g., MGMA, AMGA, AAPCP, HFMA, etc.).
Maintains access to expertise and consultants by developing and maintaining strong relationships with strategic advisors and consultants (e.g., ECG, SullivanCotter, etc.).

Responsibilities

Chairs the Physician Compensation Executive Committee (“PCEC) to ensure the effective governance an oversight of physician compensation strategy, policies, procedures, practices, benchmarking, FMV, and compliance with state and federal laws and regulations.
Chairs and/or oversees leadership of various physician compensation working groups to work through issues and proposals regarding physician compensation.
Leads the development of physician compensation strategies with key stakeholders and staff members to ensure physician compensation is competitive and incentives activities, behaviors, and performance to meet MCMF’s clinical quality and financial performance objectives.
Leads the development, documentation, and implementation of physician compensation policies, procedures, and practices in conjunction with key stakeholders and staff members.
Leads the periodic renegotiation of the MCMG and MCIP physician services agreements (“PSA”), with collaboration and support from the PCEC.
Provides guidance and oversight of physician compensation modeling and terms for PSA negotiations conducted by the network management team.
Leads the development, documentation, annual updates, and appropriate application of physician productivity and compensation benchmarking data and derivative tools in accordance with existing policies and best practices.
Leads engagements with outside consultants to timely and accurately complete periodic FMVs as needed.
Ensures physician compensation rates, models, and outcomes are compliant with MemorialCare FMV guidelines and federal and state laws and regulations.
Oversees physician compensation modeling, sensitivity analyses, and analytical workflows.
Proactively communicates and coordinates with key stakeholders and team members as needed to facilitate common understanding, action, follow-up. and closure.
Plans, prioritizes, directs, and supervises the work activities of physician compensation team and external consultants.
Mentors and develops staff. Creates a safety culture, a culture of learning and collaboration.
Ensures the timely and accurate disbursement of physician compensation, including base pay, periodic incentive payments, and ad hoc payments (e.g., excess shifts, moonlighting shifts, etc.).
Lead and direct the annual budgeting process for the MCMG and MCIP PSAs.
Meets weekly with the MCMF CFO to coordinate work and ensure strategic objectives are prioritized and completed timely.